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Report: Over 79% of firms don’t have counter security measures for hacking



Nearly 79 percent of Indian firms do not have a computer security incident response plan (CSIRP) in place that is applied consistently across operations, a new IBM-Ponemon Institute study said on Thursday.

In the past two years, 51 percent of Indian organisations surveyed experienced a data breach and 56 percent experienced a cybersecurity incident, revealed the study conducted by US-based Ponemon Institute on behalf of IBM Security. Of the organisations that do have a CSIRP in place, 57 percent do not test plans regularly or at all. Only 23 percent reported using automation significantly in their organisation, the findings showed.

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“In India, Incident Response (IR) strategy is at a nascent stage and organisations are beginning to conceive this as an integral part of risk mitigation and resilience plan,” said Vaidyanathan Iyer, Security Software Leader, IBM India/South Asia.

“Considering the lack of a well-developed and tested IR in an organisation’s cyber resiliency strategy, enterprises need to evaluate and implement the right tools at the earliest,” Iyer added.

The IBM-Ponemon study found that globally, 77 percent of respondents indicated they do not have a cybersecurity incident response plan applied consistently across the enterprise.

Studies show that companies who respond quickly and efficiently to contain a cyber attack within 30 days save over $1 million on the total cost of a data breach on average.

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“Failing to plan is a plan to fail when it comes to responding to a cybersecurity incident. These plans need to be stress tested regularly and need full support from the board to invest in the necessary people, processes, and technologies to sustain such a programme,” expressed Ted Julian, Vice President of Product Management and Co-Founder, IBM Resilient.

Only 30 percent of the respondents reported that staffing for cybersecurity is sufficient to achieve a high level of cyber resilience while 62 percent indicated that aligning privacy and cybersecurity roles is essential to achieving cyber resilience within their organisations.

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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.

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