Investing in Cyber Security is No More an Option for Businesses. Here’s Why
The growing ransomware attacks in recent months has allowed companies to mess up data recovery with millions lost due to a disruption of operations.
However, Indian companies, particularly independent contractors, are often tired of investing in cyber security because many consider an additional cost that can be avoided.
With large volumes of data taking center stage and companies increasingly reliant on technology, the risk of such attacks became imminent. Costs related to cyber security are no longer an optional cost, but mandatory for businesses that need to wake up.
“When a critical system fails due to a power outage, an accident or a cyber attack, the ramifications for commercial operations could be the same. Indian companies must manage cybersecurity risks in the same way they manage other risks,” he said. Bryce Boland, director of Asia-Pacific FireEye technology.
The digital landscape has also changed considerably in India in recent years, the government has even recognized the growth of technology companies and the introduction of ambitious projects such as digital India. Boland said companies were more technology-dependent, more vulnerable to cyber attacks.
Where should entrepreneurs and businesses start?
First, he has a plan, Boland said. It is urgent to implement a cyber security strategy and use this strategy to guide the information collected and analyze how it is collected. This does not necessarily mean spending a lot of money because there are many new innovations that help companies protect their economic infrastructure. The security strategy of the company must be accepted, not nailed.
Secondly, as companies today are aging their businesses, wealth is increasingly related to intellectual property, which can be stolen or destroyed in a cyber attack. This wealth should be maintained, as you could rely on banks to keep their money.
“Today, many crimes in India are swept under the carpet.It is too easy for attackers to steal confidential information from all types of companies, but the prosecution of these crimes allows groups to facilitate more often, The victims, the credentials stolen in an attack later used to perpetrate others – attacks that could have been avoided if the authorities had been modified by their owners once the breach was made public, “said M. Boland.
High-risk mobile application companies
India is the second largest smartphone market in the world after China and the economy becomes faster mobile applications. Although applications are transforming many sectors of India’s economy, most of them are plagued with security problems. The companies involved in this space should devote an extra effort to grow in the long term.
Compulsory practices to follow
Make sure someone is in charge of data security
Develop a cyber security plan for the management of data security in the company as part of its business operations
You should not collect information that is not necessary to run your business, as it increases the scope of possible data loss
Make adequate investments to protect your operations from relevant threats and do not consider a waste