50% of companies in India faced cyber-attacks: report

Mumbai: Amid the pandemic, 50% of companies in India faced cyberattacks at least once a day, with 16% attacked each hour, revealed the Acronis Cyber Readiness Report, 2021.

With 50% of companies in India exposed to cyberattacks, the report found that 58% of IT managers and 26% of employees in India have reported being frequently targeted by phishing attacks.

58% of employees in India suffer from weak IT infrastructure and being unable to add new devices, which is twice the global average.

India has the lowest adoption rates of Multifactor authentication(MFA) technology among IT managers with 50% not implementing it or only using it on some accounts, as per the report.

This year’s independent survey of 3,600 IT managers and remote employees at small and medium-sized companies across 18 countries including India. It provides a comprehensive overview of the modern cybersecurity landscape and the key pain points faced by businesses and remote employees worldwide.

With employees working from home, WiFi connectivity has become a top issue for 67% of remote employees in India. This is causing remote workers to cut corners on data protection procedures.

Acronis’ research from last year exposed key vulnerabilities that required businesses to plan and implement solutions since more than 80% of global companies admitted they were not prepared to transition to remote work. Below are some key findings from global statistics with a focus on India:

  • Malware attacks are also increasing in 2021: India reported 46% in the last year, far above the global average of 36.5%
  • While video conferencing attacks have decreased globally since 2020, but India reported an increase in 46% of its companies
  • In India, 26% of respondents confirmed being targeted by phishing attacks monthly
  • Smaller fraction of IT managers uses MFA on all accounts – 26% in Singapore, 21% in Australia and 18% in India

In response, organisations worldwide have begun to prepare for the growing threats – but for every step, companies are taking, cybercriminals have already taken three steps.

The demand for antivirus solutions globally has grown from 43% last year to 73.3% in 2021. However, companies are just discovering that standalone antivirus solutions no longer work against modern threats

The global demand for vulnerability assessments and patch management grew significantly: from 26% in 2020 to 45% this year. This can be attributed, in part, to the increased volume of vulnerabilities exposed this year in critical and in-core software deployments such as Microsoft Exchange servers, Chrome browsers or Apache webservers.

Not surprisingly, the demand for better and more secure remote monitoring and management tools grew over three times worldwide– 35.7% this year, up from 10% in 2020. With remote work now being recognized as a long-term default format of work, it’s more important than ever for IT managers to be able to monitor and manage a wide range of remote devices

In last year’s Acronis Cyber Readiness Report 2020, there was an increase in the adoption of new services – especially SaaS and Cloud Computing services – and this year, companies continue to adopt new solutions. However, this has increased the overall complexity of IT environments, which most likely will cause additional breaches and unplanned downtime in the future

“The cybercrime industry proved to be a well-oiled machine this year – relying on proven attack techniques, like phishing, malware, DDoS and others. Threat actors are increasingly expanding their targets, while organisations are held back by the growing complexity of IT infrastructure,” said Candid Wuest, Acronis VP – Cyber Protection Research.

“Only a small number of companies have taken the time to modernize their IT stack with integrated data protection and cybersecurity. The threat landscape will continue to grow, and automation is the only path to greater security, lower costs, improved efficiency and reduced risks,” added Wuest.

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