Technology to financial services: Cyber frauds hurt organisations

Almost half of all organisations in India say they have experienced cyber fraud during and after the pandemic. Technology, media and communication, financial services, and manufacturing are the most affected sectors, according to the ‘Financial and Cyber Fraud Report 2024’ by Grant Thornton Bharat. One reason for cyber frauds is limited investments in governance protocols. More than one-third of the organisations are unsure if their anti-fraud and cybersecurity programmes have successfully reduced fraud. The survey polled 250 senior executives across industries.