Business

Indian firms highly cyber-resilient in APAC region: McAfee

As much as 98% of the firms likely to invest more in security

Indian enterprises are the most cyber-resilient than all their counterparts across Asia Pacific (APAC) region as per a study by McAfee, a device-to-cloud cybersecurity firm.

The study, that covered 480 cybersecurity decision-makers across eight countries, including Australia, Hong Kong, India, Indonesia, Malaysia, New Zealand, Singapore and Thailand, showed that 97% of the organisations in India were familiar with the concept of cyber-resilience compared with Australia (73%) and New Zealand (75%).

As per Sanjay Manohar, India MD of McAfee, cyber- resilience refers to an entity’s ability to continuously deliver the intended outcome despite adverse cyber events. “An astounding 97% of organisations in India believe that they are cyber-resilient, taking the top position amongst all the other countries in the region.’’

The study also found some 98% of Indian enterprises were likely to invest more in security as regulation demanded it. Some 60% of Indian CXOs participated in the study believe that building a culture of cybersecurity was ‘strategic,’ in comparison with Australia (27%) and Singapore (40%).

“The C-Suite is more likely to believe that their organisation’s cybersecurity posture is ‘strategic’ (53%) compared to other levels of management,’’ according to the study.

“Today, organisations are increasingly vulnerable to cyberattacks that are designed to cripple their business or permanently destroy their IT systems. As digital transformation has created unintended gateways to risks, vulnerabilities, attacks, and failures, a cyber-resilience strategy can help businesses withstand disruptive cyber incidents. Cyber-resilience is an evolving perspective that is rapidly gaining recognition,’’ Mr. Manohar further said.

India is most likely to have ‘high’ impact (58%) of cybersecurity incidents on the business compared with Singapore (42%) and Australia (16%), as per the study.

McAfee in its threat predictions said, data breach, data tampering and fraud would be the top three risks plaguing enterprises in the APAC region in 2021 as they continue their digital transformation and cloud journey.

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Printable version | Feb 20, 2020 9:55:46 PM | https://www.thehindu.com/business/indian-firms-highly-cyber-resilient-in-apac-region-mcafee/article30609712.ece

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