India faces one of the highest cyber security threats in the Asia-Pacific region with over 500,000 security alerts on a daily
basis, which is nearly thrice the number of alerts faced by global companies, according to a study by Cisco.
India leaves nearly 39% or approximately up to 200,000 alerts unattended due to lack of required skill sets, a study titled
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Asia-Pacific Security Capabilities Benchmark Study released on Wednesday stated.
“This was in line with its global peers in the APAC region who left half of the legitimate cyber threat alerts unattended. This presents a significant concern for the cybersecurity defenders who need to identify the genuine threats from a vast number of daily alerts.” Fifty-six percent of the investigated alerts in India turns out to be false adding to the burden of existing security defenders who need to ensure that they are working on the right alerts. “This leads to cybersecurity defenders experiencing cyber fatigue and
give-up on trying to stay ahead of malicious attackers and hence more work is needed to equip security professionals with adequate tools to help them get more accurate information about their environment and the attacks happening against it.”
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India witnesses the second highest instances of legitimate threats in the Asia-Pacific region behind Australia. While Australia witnesses 65% legitimate cybersecurity threat, India is at par with the regional standard at 44%.
Indian breaches caused a lower financial impact as opposed to its regional counterparts with 27% of the Indian respondents reporting the cost of a breach to less than $100,000 while a fifth of them reporting a breach cost between $5 million to $10 million, according to the report.
The cost of a breach is highest in Australia with 52% reporting that an attack costs between $1-5 million, compared to Japan (23%) and India (25%). This includes costs from lost revenue, loss of customers, and out of pocket expenses.