Increasing focus on Cybersecurity at Corporates

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Time to Read: 3 minutes

Organisations around the world are continuously battling cyberattacks that come from a wide range of sources. Though a vast majority of these security breaches can be avoided, digital intruders armed with sophisticated technology manage to avoid detection for a long period, causing massive damage. They pose a threat to individual security as well as companies and financial institutions.

But the good thing is that one does not have to be defenceless. Cybersecurity professionals around the globe have been tasked with protecting private information along with the networks and systems that one utilises. As remote operations are expected to continue even in the post-pandemic era, organisations are working towards building a robust cybersecurity infrastructure.

FOCUS ON CYBERSAFETY

“The importance of cybersecurity cannot be questioned today. Internet users, including workfrom-home employees, need to understand how grave these threats can be and have at least an anti-virus/internet security solution and basic cybersecurity awareness to protect themselves online,” says Dipesh Kaura, general manager, Kaspersky (South Asia).

With remote workforces becoming the norm these days, companies are constantly upgrading their security infrastructure against a flurry of cyberattacks. Moreover, during these unprecedented times, there is a sudden push to ‘go digital’. For safety purpose, people are opting to shop online, make contactless payments, store data on the cloud, and so on. This push has reinstated the need for investment in strong cloud security measures by corporates.

NEED FOR UNIQUE SOLUTIONS

Fraudsters tend to exploit users’ lack of awareness through various targeted attacks that include identity impersonation and phishing for sensitive information. Technology companies should consider ensuring that safety and security is an inherent part of the solutions rather than an afterthought.

Related Article  Cybersecurity expenditure to shoot up by 37% in next 5 years: Honeywell Survey

“The most widespread threats among corporates include malware, ransomware, phishing attacks, and physical theft. Here, technology plays a pivotal role in bolstering cybersecurity. Measures like multifactor authentication by adding biometrics, dynamic authentication technologies, and artificial intelligence and machine learning (AIML) will help in detecting and containing fraudulent activities faster and quicker. Sensitising people about the risk of such fraudulent activities is also essential to raise awareness about potential risk. It’s important to educate them on how they can safeguard themselves,” says Sujay Vasudevan, vice president, cyber and intelligence solution, South Asia, Mastercard.

People, who work with sensitive and confidential data, are currently most susceptible to cyber threats. “According to a new Cisco report, three out of four organisations in India experienced more than 25 per cent increase in cyber threats or alerts amid the shift to mass remote working owing to the pandemic. Many companies have already become victims of cyberattacks,” says Trishneet Arora, founder and CEO, TAC Security.

INVESTING IN SECURITY

Speaking on similar lines, Pradeep Satya, CEO and founder, Synergy Strategic Solutions, states that many organisations inspect systems and data manually for the evidence of unexpected behaviour and indicators of a breach, compromise, or defect. “As per an internal survey among our client base, 100 per cent of the survey respondents confirmed that they had to alter their VPN capacity to cater to work-from-home needs and 64 per cent of the respondents showed an intention of increasing the event and log monitoring and will probably have to invest in a proper SOC (Security Operation Centre),” he adds.

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Increasing organisational complexity can be a hindrance if cybersecurity is not sufficiently scaled to effectively manage the changing environment by properly diagnosing, monitoring, and responding to threats.

“The financial sector, for instance, is a classic example of having strict cybersecurity procedures and norms. Implementing a robust and fool-proof cybersecurity protocol would warrant investments in resources to monitor the network,” avers Satya.

FLEXIBLE SOLUTIONS

With an increase in the frequency of cyberattacks, the spotlight has shifted to cybersecurity technologies and the use of scalable and flexible solutions that can help to secure digital transformation.

“It is pertinent for large organisations to make a shift from traditional solutions which are ill-equipped to solve modern-day security challenges, and predominantly adopt the newer technologies to protect their critical assets. Cybercrime can only be prevented by adopting a resilient security posture, moving on from incompatible solutions like enterprise Virtual Private Network (VPNs), and adopting the next generation of security concepts and technologies,” reveals Sandip Kumar Panda, CEO and co-founder, InstaSafe Technologies.

Cyberattacks can happen in several forms, including theft or unauthorised access of computers, laptops, tablets, or mobile devices, a remote attack on IT systems or websites, or attacks on the information held in third-party systems such as cloud devices. So, it is time for for companies to ensure that no one is attempting to steal their data or money.

(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.xtechalpha.com.)

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Increasing focus on Cybersecurity at Corporates

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