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Rs 58,00,000 as lost revenue thanks to cyberattacks

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CIOL Bureau
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BANGALORE, INDIA: About 66 percent of enterprises experienced cyber attacks in the past 12 months.  Symantec Corp. today 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.

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These attacks cost Indian enterprises an average of over Rs 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 today’s information-driven world.”

The study reccomends that organizations need to protect their infrastructure by securing their endpoints, messaging and Web environments. In addition, defending critical internal servers and implementing the ability to back up and recover data should be priorities. Organizations also need the visibility and security intelligence to respond to threats rapidly.       IT administrators need to protect information proactively by taking an information-centric approach to protect both information and interactions. Taking a content-aware approach to protecting information is key in knowing where sensitive information resides, who has access, and how it is coming in or leaving your organization. 

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.