Home Banking & Finance Only 4% of firms in India have ‘maturity’ to tackle cyber threats: Cisco | News

Only 4% of firms in India have ‘maturity’ to tackle cyber threats: Cisco | News

by Suchanaadainik
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Only 4 per cent of organisations in India have a ‘mature’ level of readiness needed to be resilient against modern cybersecurity risks, while 37 per cent are at the ‘progressive’ stage, 52 per cent are ‘formative’, and 7 per cent are ‘beginners’, according to Cisco’s 2024 Cybersecurity Readiness Index. Globally, 3 per cent of companies are at a mature stage. The 2024 Cisco Cybersecurity Readiness Index comes at a time when companies continue to be targeted with a variety of techniques that range from phishing and ransomware to supply chain and social engineering attacks. Also, while they are building defences against these attacks, they still struggle to defend against them, slowed down by their own overly complex security postures that are dominated by multiple point solutions. 

Key trends:

82%: Respondents said a cybersecurity incident is likely to disrupt their business in the next 12-24 months

99%: Companies expect to increase their cybersecurity budgets in the next 12 months

88%: Respondents had multiple point solutions that slowed down their team’s ability to detect, respond and recover from incidents

78%: Organisations have deployed ten or more point solutions in their security stacks, while 38% said they have 30 or more 

92%: Companies said their employees access company platforms from unmanaged devices

48% of those spend one-fifth (20%) of their time logged onto company networks from unmanaged devices.

91%:  Companies said talent shortage is a key concern

59%: Companies said they had more than ten roles related to cybersecurity unfilled in their organisation


Future cyber Investments: 


 71% planning to significantly upgrade their IT infrastructure in the next 12 to 24 months


70% plan to upgrade existing solutions, 58% plan to deploy new solutions, and 60% to invest in AI-driven technologies

First Published: Mar 29 2024 | 12:09 AM IST

#firms #India #maturity #tackle #cyber #threats #Cisco #News

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