Cyber Attack Costs Huge Revenue Loss to Indian Enterprises

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While the average revenue lost by Indian enterprises due to cyber attacks was INR 58,59,234 in 2009, the value of lost confidential data and lost productivity was also high...

Symantec Corp. released the India findings of its global 2010 State of Enterprise Security study. The study found that 42 per cent of Indian enterprises rate cyber security their top issue. This isnt a surprise, considering that 66 percent of enterprises experienced cyber attacks in the past 12 months. These attacks cost Indian enterprises an average of over INR 58,00,000 in lost revenue in 2009, apart from bigger financial losses due to loss of confidential data and productivity. Finally, organizations reported that enterprise security is becoming more difficult due to understaffing, new IT initiatives that intensify security issues and IT compliance issues.

Protecting information today is more challenging than ever, said Vishal Dhupar, Managing Director, Symantec India. By putting in place a security blueprint that protects their infrastructure and information, enforces IT policies, and manages systems more efficiently, businesses can increase their competitive edge in tod

ays information-driven world.

Enterprise security is ITs top concern

Security is of great concern to Indian enterprises. Forty-two per cent of the enterprises surveyed rank cyber risk as their top concern, more than natural disasters, terrorism and traditional crime combined. Reflecting that perception, Indian enterprises are intently focused on IT security. In fact, the study revealed that 81 per cent of the organizations feel better managing business risk related to use of IT is an important focus area for 2010. Furthermore, 92 per cent of the organizations said IT security budgets would stay the same or increase in 2010.

Enterprises are experiencing frequent attacks

In the past 12 months, 66 per cent of Indian enterprises experienced cyber attacks. Worse, 51 per cent reported that cyber attacks have stayed the same or grown over the past 12 months. The attacks experienced in 2009 were a combination of exte