According to the reports of Cisco, banking and finance, government and critical infrastructure were among the most targeted sectors in India by cybercriminals in 2018-19. Also, about 26% of these overall attacks cost organisations in the country upwards of $5 million each.
“The hackers are persistent, and their campaigns are very targeted. We have found that sectors like banking and finance (20.1%), government (19.6%) and critical infrastructure (15.1%) were among those that continue to face the highest threat of cyberattacks,” Cisco India and SAARC Director (Security Business) Vishak Raman told PTI.
“Cybercriminals are also increasingly targeting sectors like defence (15.1%), IT, telecom and healthcare,” he added.
“They are using a host of mechanisms like a point of sale attacks to target sectors like retail, hospitality, entertainment and e-commerce. Ransomware is used to attack public sector entities, transportation as well as banking and finance verticals,” he said.
He also cited an Asia-Pacific Security Capabilities Benchmark Study conducted by Cisco in which 21% respondents said the cost of a breach for them was between $5-9.9 million, while another 5% said it was more than $10 million for them, reported PTI.
“Companies are now spending on not just protection but also increasingly on proactive threat hunting, more forensics,” he said.