Page 19 - Insurance Times October 2019

As we accelerate towards becoming a trillion-dollar digital because most cyber attacks start there, yet a higher than
economy, building the right framework for cyber resilience expected amount of IT managers still can't identify how
and security is critical for the country. The government on threats are getting into the system and when. 14% of IT
its part has taken a number of initiatives in this direction; managers who were victim to one or more cyber attacks
however, the involvement of each citizen and all last year can't pinpoint how the attackers gained entry and
organizations to make it a collective and coordinated 17% don't know how long the threat was in the
movement is must for the success of the cyber secure eco environment before it was detected.
system. India currently ranks 15th in a list of the world's
least secure countries with respect to cyber security. The The survey emphasises the need to have better endpoint
global survey '7 Uncomfortable Truths of Endpoint Security' detection and response capabilities. On average, Indian
conducted by Sophos, an endpoint security provider has organizations spend 48 days a year (four days a month)
found that 76% of Indian businesses were hit by cyber investigating potential security incidents. It comes as no
attacks in the past year, the highest after Mexico and surprise that IT managers ranked identification of suspicious
France. events (22%), alert management (19%) and prioritization
of suspicious events (13%) as the top three features they
In its global survey, Sophos said that more than 18% threats need from EDR solutions to reduce the time taken to
discovered in India are on mobile devices, almost double identify and respond to security alerts. The survey polled
than the global average, while only 7.9% were discovered more than 3,100 IT decision makers from mid-sized
on endpoints. 39% threats were discovered on the businesses in 12 countries in Colombia, Brazil, UK, France,
organisation's servers and 34.5% on its networks. 76% of Germany, Australia, Japan, India, and South Africa.
Indian businesses were hit by cyber attacks in the past year,
the highest after Mexico and France. More than 18% Key India-specific survey findings:
threats discovered in India are on mobile devices, almost
Y Most cybercriminals are detected at the server (39%)
double than the global average, while only 7.9% were
or on the network (35%); 8% are found on endpoints
discovered on endpoints. 39% threats were discovered on
the organisation's servers and 34.5% on its networks. Y More than 18% threats discovered in India are on
mobile devices, almost double than the global average
Server security stakes are at an all-time Y 92% Indian IT managers wish they had a stronger team
in place to properly detect, investigate and respond to
high:
security incidents
Server security stakes are at an all-time high with servers
Y 89% IT managers surveyed believe cyber security
being used to store financial, employee, proprietary, and
recruitment is a challenge
other sensitive data. Today, IT managers need to focus on
protecting business-critical servers to stop cyber criminals Y 97% IT managers admitted that security expertise is
from getting on to the network. They can't ignore endpoints one of the greatest issues in India
Y Three - fourth of Indian organisations admitted not
being able to take full advantage of implemented EDR
solutions
Y 67% Indian organisations plan to add Endpoint
Detection and Response (EDR) capabilities to fight
cyber attacks
Y After Mexico and France, Indian businesses most hit by
cyber attacks

Cyber risks will soon be bigger risks than

natural disasters
Cyber risks will soon become bigger risks than natural

The Insurance Times, October 2019 19