As per the recent reports, India receives almost 500,000 cybersecurity alerts every day, highest in the Asia Pacific region and three times the global average.
According to the joint report ‘IMC 2019’ by the Indian Mobile Congress – COAI and KPMG India, amidst the growing cybercrimes, there is a need on the part of the organisations to be open with consumers about their data collection.
Many experts believe that the consequences of the data breach of the organisations averaged almost $4 in 2018 globally. The cost of the data breach to the India organisations was about $1.85 million in the previous year.
Moreover, almost 40 per cent of the total security alerts remain unattended due to the lack of required skill professionals. At present, there are only about 50,000 professionals with cybersecurity skills in India.
With rapid digitisation, India is witnessing a boom in its digital industry and the lack of the efficient numbers of cybersecurity experts at present is the main reason why the organisations and the state at large are not adopting necessary security techniques.
Hence, it becomes essential for organisations to upskill and reskill their employees at regular intervals. Besides, more than half of the cybersecurity threats which the experts investigate turn out to be false, which exerts much more pressure on the experts.
In such a framework, where Indian digital space is continuously exposed to the data breach, the government, corporates and the educational institutions should work collectively in not only in the developing more advanced cybersecurity techniques as well as training more cybersecurity experts.
Besides, data ethics, privacy and security should form an integral part of every organisation’s policy.