According to a report, India faces one of the highest rates of cyber security threats in the Asia Pacific region – receiving more than 500,000 security alerts daily, which is nearly three times the global average.
According to a joint KPMG in India-Indian Mobile Congress-COAI report released on the first day of “IMC 2019”, organizations need to be open with consumers about their data being collected as cybercrimes grow.
The impact of a data breach to an organisation averaged $3.9 million globally in 2018; it was around $1.83 million in India last year.
“Nearly 39 per cent of security alerts remain unattended owing to the lack of relevant skill-sets. Though there are approximately 600,000 digitally skilled employees in India, only 10-12 per cent have cybersecurity skills, while even fewer have data protection and privacy skills,” stated the report.
The skill gap may increase further with rapid digitalization and is being cited as one of main reasons for not adopting advanced security practices and technology.
“Here, it has become essential for organizations to offer relevant training to upskill and reskill employees,” said the report.
The report also states, “As India speeds up its mission to transform into a truly digital economic, cybersecurity threats and privacy concerns could impede its success.”
