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Indian firms in danger from cyber attacks due to unregulated software: EY

Last month, over 100 countries were hit by 'WannaCry' ransomware

Press Trust of India  |  Mumbai 

Ransomware attack, Cyber security
Over 49% of chief information officers identified security threats from malware as a major threat posed by unlicensed software

More than 60 per cent of the used by companies in is unregulated which poses a threat of cyber attacks, according to business practices firm EY.

"Many organisations secure their hardware. However, they do not pay attention to the used, which could be unregulated," Maya Ramachandran, Partner, Advisory Services Practice, EY told PTI.


As per data of Indian (CERT-In), over 50,300 incidents like phishing, and defacements, and denial of service attacks were observed in the country during 2016.

Last month, over 100 countries were hit by 'WannaCry' ransomware in one of the most widespread cyber attacks in history.

According to a recent EY survey, over 49 per cent of chief information officers identified security threats from malware as a major threat posed by unlicensed software, while 26 per cent employees admitted to installing outside on work

"Several large corporations and multinational companies have started setting up asset management offices that would look into the leading best practices of using including compliance and licensing terms to the vendor," Ramachandran pointed out.

However, middle market companies are more concerned about running the business and may ignore peripheral matters including cyber security, she added.

An organisation with stringent asset management practices can operate a secure and cost effective IT environment, she said.

asset management would address inadvertent downloads of malware through unauthorised software, or of unknown vendors and use of removable media to download that is not supported in a environment.

It would also address issues like use of older versions of software, the unauthorised connection of personal devices to networks, among others.

First Published: Sun, June 11 2017. 14:44 IST
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