cyberthreats
As India embraces rapid digitization, its citizens, businesses, and government sectors reap substantial benefits. However, this digital revolution brings forth significant cybersecurity challenges at the same time. In this blog, we explore the current cybersecurity landscape in India, delve into anticipated trends for 2024 in the APAC region, and highlight the human factor in cybersecurity.
Current Challenges for Organisations in India
Rise in Cyberthreats: The digital era has heightened vulnerabilities – making cybersecurity paramount. India is facing a whole spectrum of cyberthreats, from financial fraud and data breaches to advanced cyber-espionage campaigns.
Diverse Attack Techniques: With its vast population, India is a hotspot for cybercriminals employing phishing, ransomware, and social engineering tactics.
Targeted Sectors: Financial institutions, e-commerce platforms, and government entities are prime targets due to their sensitive data.
Ransomware Surge: A dramatic increase in ransomware incidents has led to significant business disruptions ranging from a few days to a few weeks.
Anticipated Trends for 2024 in India and the APAC Region
AI and ML in Cybersecurity: The integration of AI and ML will be a double-edged sword – used by both cybercriminals for advanced attacks and defenders for enhanced security measures.
Cloud and AI Resources: The focus will shift to GPU Farming in the cloud, as computational resources become prime targets for cyberattacks.
Supply Chain and Infrastructure Attacks: The move towards “zero trust” models and the need for robust security protocols in supply chains will be crucial.
Cyber-insurance Evolution: Like all industries, AI is set to transform how insurance companies assess how cyber-resilient prospective customers are, and there will also be a shift to preventive measures for reduced premiums.
Weaponization of Deepfake Technology: Deepfakes are becoming a tool for manipulation and social engineering.
Persistent Phishing Threats: AI-enhanced phishing tactics may become more personalized and practical, making it even harder for individuals to identify malicious intent, leading to increased phishing-related breaches.
We believe a complete cybersecurity suite is needed to secure organisations in India. This includes consumer security, SMB and enterprise security, as well as Cyber Immune approach and intelligence-driven solutions for national SOC and ICS industries.
The Critical Role of the Human Factor in India’s Cybersecurity
While technology and digital infrastructure are fundamental to cybersecurity, the human element often becomes the weakest link in the security chain. In India, where digital literacy varies widely across regions, the role of human behaviour in cybersecurity cannot be overstated. Our recent study showed that insider threats – loopholes caused by internal employees – are as dangerous as external attacks.
Key highlights
- 1 in 4 (24%) cyber-incidents against businesses in India due to employees intentionally violating security protocol. External hacking was just 33%.
- Almost half (42%) of occurred due to the use of weak passwords or failure to change them promptly.
- Nearly 3-in-5 cybersecurity breaches were the result of staff in India visiting unsecured websites.
- Our report showed that companies faced cyber-incidents because employees did not update the system software or applications when required.
Conclusion
As we progress into 2024, the landscape of cybersecurity in India and the APAC region presents a complex mix of challenges and evolving threats. The adoption of advanced technologies like AI and ML, the increasing importance of cloud security, and the ever-present human factor, all underline the need for robust, proactive cybersecurity strategies. Organizations must stay ahead of these trends and continuously evolve their cybersecurity posture to safeguard their assets and maintain the trust of their stakeholders.
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