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Cyber attacks cost Indian firms $500,000 in the past 12-18 months, says Cisco study

February 22, 2018

According to Cisco’s Annual Cybersecurity report, cyber attacks caused financial damages aggregating $500,000 to Indian companies in the last 12-18 months.

For the report, Cisco interviewed around 200 organisations across diverse verticals including financial services, manufacturing, government (including defence), telecommunication, retail, healthcare, pharmaceuticals and education etc.

According to the report, establishing security is getting more complex and scope of breaches is expanding. The study found approximately 30 per cent of security professionals used products from 25 to 50 vendors and 54 percent of breaches affected more than half of their systems in 2017. Further, supply chain attacks are increasing in velocity and complexity and called for the need to be aware of potential risk of using software or hardware from organizations lacking a responsible security posture.

As per the findings, security professionals see value in behavioural analytics tools in locating malicious agents in networks. Approximately, 67 percent of security professionals said behaviour analytics tools work well. The study shows that 50 per cent of organisations rely on automation, 53 per cent rely on machine learning and 51 per cent rely on artificial intelligence.

 
 

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