Indian cos cyber security functions not as per need: Survey

It is very difficult to have an organisation with 100 per cent cyber security as development of new technologies is leading to increase in cyber threats, a top cyber security official said today.
"We need to have better resiliency in our system as there is nothing 100 per cent secure. Higher and deeper resiliency will help us to protect our infrastructure," National Cyber Security Coordinator at National Security Council, Gulshan Rai said while releasing an EY report.
He said that no organisation can be 100 per cent secure but lot of cyber attacks can be mitigated by building resiliency within the organisation.

At the event, Rai released EY survey findings on cyber security of organisations in the country which said that 75 per cent Indian entities have admitted that their cyber security functions are not as per their requirement while 38 per cent have said that their boards are not 'fully knowledgeable' about risk from cyber attacks.
The research was conducted between June-August 2016 covering 124 C-Suite leaders and Information Security and IT executives across various sectors in India.
"The survey included small, mid-cap and large companies. Some of them are listed companies. It also included government organisations," Nitin Bhatt, EY India's Risk Advisory Leader said.

In the survey, 69 per cent of Indian respondents reported an increase in their cyber security budgets over the last 12 months and almost three-fourths expect budgets to increase further in the next year.
"Despite the increased investments, 75 per cent of the Indian respondents say that their cyber security function does not fully meet the organisation's needs," the report said.
It added that the findings are in line with the global trend where more than half of the respondents reported increased budgets on cyber security, but 86 per cent are still not confident of their cyber security functions.