India needs to do more on cyber risk management: FireEye

Sophisticated cyber threat actors are growing and posing big challenges for organisations in India, a top executive from cyber security company FireEye said on Wednesday, adding that although Indian firms are getting better in cyber risk management, they still have a lot of ground to cover.

"The financial services sector is at risk and the segment constituted 39 per cent of Mandiant cybersecurity firm's forensic investigations in Asia Pacific (APAC) last year," Shrikant Shitole, Senior Director and Country Head for India, FireEye, said in a statement.

FireEye on Wednesday released its global "M-Trends 2018" report.

According to Shitole, the company found that the attackers were present in APAC organisations' networks for a median of 498 days before being detected, which is almost five times longer than the global median of 101 days.

"Indian firms are getting better at discovering compromises, but they still have a long way to go. As cyber attacks become more frequent and sophisticated, I hope the leaders will take active part in cyber risk management and data breach preparedness. With determination and the right resources, Indian firms can stay ahead of the attackers," Shitole added.

The median dwell time for APAC also increased this year to 498 days, from 172 days in last year's M-Trends report.

Throughout 2017, Iran grew more capable from an offensive perspective, the report pointed out.

Mandiant, which was acquired by FireEye in a deal worth in excess of $1 billion in 2013, observed a significant increase in the number of cyber-attacks originating from Iran-sponsored threat actors.

"While they have captured notoriety over the past year, especially for their destructive attacks, much of their espionage activity has gone unnoticed," the report said.

FireEye also said that organisations are increasingly being re-targeted. Nearly 49 per cent of customers with at least one high priority finding were successfully attacked again within one year.

--IANS

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