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Cyber-security incidents rose to 208,456 in 2018 from 53,117 in the previous year which is a clear indication of the rising number of cyber incidents in the country.
As the lines between digital and physical continue to blur especially amid the how much do computer engineers make pandemic, contactless payments and digital transactions have become the new norm. A report published by IBEF said that the Indian e-commerce market is growing at a steady pace and is expected to be valued at $200 billion by the year 2026. In the same report, it was stated that internet users in the country will increase to 829 million by the year 2021. If that sounds promising, there’s a bigger threat lurking around that requires immediate attention – cyber-security.
As connectivity improves and digital transactions take the front seat, several businesses in India are expected to lose their immunity which they enjoyed in a less connected economy. Cyber-security incidents rose to 208,456 in 2018 from 53,117 in the previous year which is a clear indication of the rising number of cyber incidents in the country. Amid the growing concerns, it is imperative that India takes a stronghold against cyber-security threats by strengthening cyber-security standards and implementing better security infrastructure.
A report by Frost & Sullivan and Microsoft in 2017 confirmed that 56 percent of retail organisations in the Asia Pacific region faced a cyber-security incident. Even e-commerce leaders like Amazon India had to face a security breach where almost 400,000 seller’s data were compromised. Zomato, the online food delivery and restaurant aggregator faced a similar incident where cybercriminals stole data records of 17 million users from its database.
There’s no doubt in the fact that cyber-attacks are becoming more advanced and entrepreneurial. These attacks are large scale, fast-moving and easily able to bypass the traditional, security frameworks of the organisations. Companies are trying to safeguard themselves against cyber-attacks with older technology which only offers protection against application attacks, payload delivery and viruses. However, they are exposed to bigger threats when it comes to protection in areas like virtualized data centres, networks, mobile devices and cloud devices which simply remains unaddressed.
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