Indian businesses need to brace up for more cyberattacks

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Ahmedabad: Indian businesses need to brace up for more cyberattacks as they have increasingly adopted digitalisation and technology amid the COVID-19 pandemic, according to Infopercept Consulting.

As Indian businesses re-engineered their processes through digitalisation because of COVID-19 pandemic, the situation has created new cybersecurity challenges for these businesses as well.

Most of the business processes in a medium to large size companies have begun digitalisation of processes with technology adoption through the value chain. And this going to increase further but at the same time, it is giving rise to new cybersecurity threats.

According to Infopercept Consulting’s CEO and Co-Founder Jaydeep Ruparelia, the scenario where lakhs of employees are working from home has led to new cybersecurity threats.

“The measures that were in place prior to that are not as effective in the changed scenario. The cyber attackers are looking to exploit the security loopholes within the vulnerable remote networks. The sharp rise in cyberattacks in recent months shows that they have been successful too,” said Ruparelia.

“The challenge before businesses is to adapt to the new scenario to safeguard their digital assets,” added Ruparelia, who started the Ahmedabad-based managed security services company in 2014.

Today, Infopercept has presence across multiple cities in India and overseas operations in the US, Middle East, Sri Lanka, Africa and other locations,

Cyber attackers like Coronavirus, according to Ruparelia, are invisible and not much is known about them.

“We do not know who the attackers are, where they are operating from, and who and when they will target. As in the case of Coronavirus, the only way to protect ourselves from cyberattacks is to have a proper cyber defence mechanism,” he emphasized.

Multiple reports have shown a sharp rise in cyberattacks in India and across the world in the last few months as cyber attackers try to take advantage of the unprecedented situation.

Around 30-35% of the total IT spend of companies operating in traditional businesses such as banking, insurance and manufacturing is on data security. However, looking at the current challenges, it is estimated that the figure could go up to 50% or higher in 2020 as businesses spend more towards cybersecurity initiatives.

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