Covid fear aids cybersecurity business worldwide
4 years, 4 months ago

Covid fear aids cybersecurity business worldwide

Live Mint  

The covid-19 pandemic has given a shot in the arm to startups offering cybersecurity products as businesses seek to thwart remote work threats, particularly with companies allowing their employees to work from home. The Indian cybersecurity services industry is expected to grow to $7.6 billion in 2022 and register an average annual growth rate of 21% by 2025 to reach $13.6 billion, according to a recent Nasscom-Data Security Council of India report. Lucideus’s Modi said covid has seen businesses come under multiple and sophisticated phishing and ransomware attacks while grappling with work from home policies. “Post-covid, the contribution of private sector in top line has significantly gone down, while government business is consistent…there are verticals which have become almost dormant, like hospitality etc.,” said Karmesh Gupta, CEO and co-founder of WiJungle.

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History of this topic

India sees 11 percent rise in malware, 22 pc jump in ransomware attacks: Report
5 months, 1 week ago

India sees 11 percent rise in malware, 22 pc jump in ransomware attacks: Report

Deccan Chronicle  

New Delhi: Malware attacks in India rose by 11 per cent while ransomware cyber attacks jumped by 22 per cent in 2024, reflecting the escalating nature of cyber threats for businesses, a report by SonicWall said.Malware attacks rose by 11 per cent to 13,44,566 in 2024 from 12,13,528 in 2023, the 2024 SonicWall Mid-Year Cyber Threat Report said. While ransomware …

Global cybercrime cost increased by 12x faster than total cybersecurity spending
7 months, 2 weeks ago

Global cybercrime cost increased by 12x faster than total cybersecurity spending

India TV News  

As organisations continue to spend billions of dollars on cybersecurity each year to prevent their businesses from losing sensitive data and important figures, a new report on Monday revealed that the global cybercrime cost has increased 12 times faster than total cybersecurity spending in the past six years. According to data presented by Stocklytics.com, the total cybersecurity spending has grown …

Only 4% of organisations in India ready to tackle cybersecurity risks: Cisco
9 months, 1 week ago

Only 4% of organisations in India ready to tackle cybersecurity risks: Cisco

The Hindu  

Only 4% of organisations in India have a ‘mature’ level of readiness needed to be resilient against modern cybersecurity risks, said Cisco in its ‘2023 Cybersecurity Readiness Index’. Some 99% of the companies are getting ready to take action to address newer cyber challenges and they are also planning to increase their cybersecurity budgets in the next 12 months. “In …

91% Indian firms faced ransomware attacks in 2022: Report
1 year, 6 months ago

91% Indian firms faced ransomware attacks in 2022: Report

India TV News  

An information security company, CyberArka reported that more than 91 per cent of organizations in India fell victim to ransomware attacks in 2022. Furthermore, approximately 84 per cent of organizations believe that these compromises will occur as part of digital transformation initiatives like cloud adoption or legacy app migration. In addition, 92 per cent of the surveyed organizations identified code/malware …

India Saw 53% Increase In Ransomware Attacks In 2022; IT And ITeS Worst Hit: CERT-In
1 year, 8 months ago

India Saw 53% Increase In Ransomware Attacks In 2022; IT And ITeS Worst Hit: CERT-In

News 18  

India saw a 53 per cent increase in ransomware incidents in 2022 and IT and ITeS was the majorly impacted sector followed by finance and manufacturing, India’s national cyber agency CERT-In has said in its latest report. Ransomware players targeted critical infrastructure organisations and disrupted critical services in order to pressurise and extract ransom payments in 2022, according to the …

Global Cybersecurity Market To Grow 8.7% Per Year To Touch $334 billion in 2026, Says Report
2 years, 3 months ago

Global Cybersecurity Market To Grow 8.7% Per Year To Touch $334 billion in 2026, Says Report

News 18  

Even as the digitalisation of businesses is rising, cybersecurity has emerged as the top priority for organisations and consumers, and their expenses on cybersecurity are also increasing. According to a report, the global cybersecurity revenue is expected to register a compound annual growth rate of 8.7 per cent to $334 billion in 2026, from $220 billion in 2021. The report …

Firms see Covid as top risk
3 years ago

Firms see Covid as top risk

Deccan Chronicle  

Mumbai: Covid-19 has emerged as the number one risk among the various risk factors disclosed by companies launching their initial public offerings, according to their red herring prospectus. Be it equity or debt offerings that recently hit the primary market or are in the pipeline, companies across the sectors are disclosing the ways in which Covid-19 could have a material …

Most Indian firms to increase cybersecurity budget in 2022: PwC survey
3 years, 2 months ago

Most Indian firms to increase cybersecurity budget in 2022: PwC survey

The Hindu  

Around 80% of Indian organisations are likely to increase their cybersecurity budget in 2022, according to a survey by global consultancy firm PwC. As per the PwC's 2022 Digital Trust Insights Survey, the risk landscape is continuously evolving and organisations are investing more than ever in cybersecurity to manage their risks. Moreover, 41 per cent of organisations in India predict …

Almost 300% rise in cyber attacks in India in 2020, govt tells Parliament
3 years, 9 months ago

Almost 300% rise in cyber attacks in India in 2020, govt tells Parliament

Hindustan Times  

Cyber attacks amid the Covid-19 pandemic rose by almost 300% last year in the country to reach 1,158,208 compared to 394,499 in 2019, the Union home ministry told Parliament on Tuesday, citing the data from Computer Emergency Response Team. government has empanelled security auditing organisations to support and audit implementation of information security best practices.” Reddy said the government has …

COVID-19 pandemic: Why the sudden boost in digital transformation calls for tougher cybersecurity in India
4 years ago

COVID-19 pandemic: Why the sudden boost in digital transformation calls for tougher cybersecurity in India

Firstpost  

As the COVID-19 pandemic spread over the world, we saw an explosive dependence on the digital medium for everything from shopping, studying to working. In June 2020, personal and financial data of 2.91 crore Indians was leaked on to the dark web, and 3.24 million personal records were stolen or exposed in case of identity theft across India. We spoke …

If Cybercrime Was a Country, Its Economy Would Be Third in World Behind USA, China
4 years, 1 month ago

If Cybercrime Was a Country, Its Economy Would Be Third in World Behind USA, China

News 18  

How much does cybercrime cost in sheer monetary value? A new report by US-based firm Cybersecurity Ventures, has found that cybercrime is predicted to inflict damages totaling $6 trillion USD globally in 2021. “Cybersecurity Ventures expects global cybercrime costs to grow by 15 per cent per year over the next five years, reaching $10.5 trillion annually by 2025, up from …

Fraud Attempts Against Businesses in India Doubled in Covid-19 Lockdown, US Firm Finds
4 years, 2 months ago

Fraud Attempts Against Businesses in India Doubled in Covid-19 Lockdown, US Firm Finds

News 18  

There was a doubling of online fraud attempts against businesses in India during the initial days of the lockdown and the same went down subsequently as the economy began unlocking, an American information and insights company said on Tuesday. TransUnion found that suspected online fraud attempts against Indian businesses increased 121 per cent in the first phase of the pandemic, …

Indian IT Services Growth Set for Comeback in 2021, Pandemic to Fuel Digital Spends: Fitch Ratings
4 years, 3 months ago

Indian IT Services Growth Set for Comeback in 2021, Pandemic to Fuel Digital Spends: Fitch Ratings

News 18  

The Indian IT services sector is expected to return to high single-digit revenue growth in 2021-2022 galvanised by higher demand for digital transformation after a flattish 2020, according to Fitch Ratings. In a new report titled ‘Spotlight: Indian IT Services Sector’, Fitch said the impact of the coronavirus pandemic is seen to be only moderate and short term, as customers …

'Exponential' Spike in Financial Frauds Due to Dependence on Digital Payment Platforms amid Pandemic: NSA
4 years, 3 months ago

'Exponential' Spike in Financial Frauds Due to Dependence on Digital Payment Platforms amid Pandemic: NSA

News 18  

Asking citizens to be cautious while being online, National Security Adviser Ajit Doval said on Friday financial frauds have seen an exponential increase due to greater dependence on digital payment platforms following the COVID-19 pandemic. “There is a greater dependence on digital payment platform due to reduced cash handling and greater data sharing is happening online and presence on social …

82% Corporates Expect to Get Back to Pre-covid Revenue Growth by June 2021: Report
4 years, 5 months ago

82% Corporates Expect to Get Back to Pre-covid Revenue Growth by June 2021: Report

News 18  

Eighty-two per cent of Indian companies expect to get back to pre-coronavirus revenue run rate by June 2021, according to a report by PwC India. According to the report, 73 per cent respondents are expecting lower revenues in 2020-21, but only 15 per cent expect the decline extending to the next fiscal. Twenty-six per cent of the respondents would be …

Cybersecurity spending gets $1.35 billion boost in wake of online attacks against Australia
4 years, 6 months ago

Cybersecurity spending gets $1.35 billion boost in wake of online attacks against Australia

ABC  

The Federal Government wants to create more than 500 new jobs in its highly secretive cyber intelligence agency as part of what it says is Australia's largest-ever investment in cybersecurity. Key points: The $1.35 billion package includes $31 million to improve the Australian Signals Directorate's ability to disrupt cyber crime A further $118 million will be used to expand its …

COVID-19 aftermath: Funding divide among Indian startups makes survival difficult; while some bag millions, others struggle
4 years, 6 months ago

COVID-19 aftermath: Funding divide among Indian startups makes survival difficult; while some bag millions, others struggle

Firstpost  

Funding in Indian tech-led startups rose by 14 percent in the first quarter of 2020 as compared to the same period last year, yet only 16 percent startups and SMEs have cash to survive for more than three months, revealed a recent survey There are two extreme situations being noticed currently with regards to funding in the startup sector. Overall, …

Pandemic won’t stop growth in IT services sector: IDC
4 years, 8 months ago

Pandemic won’t stop growth in IT services sector: IDC

Live Mint  

The Indian business and IT services sector is expected to grow annually by 6.5% to reach $14 billion by December, despite the virus setback, according to International Data Corp.. IDC added that the IT services market is expected to grow annually at 7.6% between 2019 and 2024, slower than the 9.1% rate predicted last year. The decline in new contract …

Coronavirus Outbreak: Economy suffers 'unprecedented collapse' due to COVID-19, says survey
4 years, 8 months ago

Coronavirus Outbreak: Economy suffers 'unprecedented collapse' due to COVID-19, says survey

Firstpost  

The coronavirus pandemic is having a “deep impact” on Indian businesses and has already caused an unprecedented collapse in economic activities over the last few weeks, says an industry survey released on Tuesday New Delhi: The coronavirus pandemic is having a “deep impact” on Indian businesses and has already caused an unprecedented collapse in economic activities over the last few …

Coronavirus Outbreak: World's biggest lockdown likely to cost Rs 7-8 lakh cr to Indian economy, say analysts
4 years, 8 months ago

Coronavirus Outbreak: World's biggest lockdown likely to cost Rs 7-8 lakh cr to Indian economy, say analysts

Firstpost  

Prime Minister Modi is likely to detail the post-lockdown scenario in an address to the nation on Tuesday morning. New Delhi: The world’s biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, may have cost the Indian economy Rs 7-8 lakh crore during the 21-day period, analysts …

Many firms see rise in cyberattacks during pandemic: Survey
4 years, 9 months ago

Many firms see rise in cyberattacks during pandemic: Survey

The Hindu  

Many organisations have seen a rise in security threats and attacks during the coronavirus pandemic, a new survey by cybersecurity firm Check Point said on Tuesday. “Cybercriminals will always seek to capitalise on the latest trends to try and boost the success rates of attacks, and the coronavirus pandemic has created a perfect storm of a global news event together …

Covid-19 impact: Software startups see rise in demand but expect revenue decline
4 years, 9 months ago

Covid-19 impact: Software startups see rise in demand but expect revenue decline

Live Mint  

BENGALURU: India’s software startups are seeing a rise in demand for collaboration and employee productivity tracking tools as well as data protection services as most corporate employees are working from home amid the covid-19 lockdown. Even as some services, including video conferencing provider Zoom and collaboration software Slack, have seen a huge increase in users over the past few weeks, …

Coronavirus impact: Amid ’work from home’ trend cyber security risk increases
4 years, 9 months ago

Coronavirus impact: Amid ’work from home’ trend cyber security risk increases

Live Mint  

New Delhi: With companies across the globe turning to work from home, via the online medium amid the COVID-19 outbreak, threats to cyber security have increased. Deepak Bhawnani, CEO at Alea Consulting said: "Companies, large and small, will be impacted due to ramifications of work from home, as this will lead to cyber security risk concerns. Palo Alto Networks' Regional …

Coronavirus in India: How corporate India is helping tackle virus outbreak
4 years, 9 months ago

Coronavirus in India: How corporate India is helping tackle virus outbreak

India Today  

Several companies from across sectors are pitching in to help the government and citizens fight the Covid-19 pandemic in India. Vedanta Resources Limited CEO Anil Agarwal also committed Rs 100 crore towards fighting the Covid-19 pandemic. Many people are facing uncertainty & I’m specially concerned about the daily wage earners, we will do our bit to help pic.twitter.com/EkxOhTrBpR Anil Agarwal …

India's cybersecurity market to hit $3bn by 2022: Report
5 years, 1 month ago

India's cybersecurity market to hit $3bn by 2022: Report

India TV News  

The cybersecurity market in India is expected to grow from $1.97 billion in 2019 to $3.05 billion by 2022, at a compound annual growth rate of 15.6 per cent -- almost one and a half times the global rate, said a PwC India and Data Security Council of India report on Wednesday. While the banking, financial services and insurance sector …

With the digitisation of India, there needs to be a focus on cybersecurity
5 years, 5 months ago

With the digitisation of India, there needs to be a focus on cybersecurity

Firstpost  

If India’s desire to create a digitally-driven economy wasn’t already evident before, it surely became so after Finance Minister Nirmala Sitaraman presented her maiden budget. What’s more notable is that the new budget proposes the scrapping of Merchant Discount Rate levied on businesses for digital payments by banks and payments service providers. This is seen as a move by the …

Why India's trojan menace will only increase
5 years, 8 months ago

Why India's trojan menace will only increase

Live Mint  

Bengaluru/New Delhi: On Tuesday, Indian IT service company Wipro Ltd. confirmed reports about a phishing attack on its IT systems even as it hired an independent forensic firm to assist with the investigation. India is no exception cybersecurity continues to be a major issue in India with 76% organizations hit by online attacks in the last year, as compared to …

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