Corporates' laxity resulting in massive data leaks- The New

Corporates' laxity resulting in massive data leaks- The New Indian Express


Express News Service
BENGALURU:  Rising instances of data breach at companies since the onset of the Covid-19 pandemic have placed sensitive information including financial details of millions of Indians at risk. India’s top firms including Air India, Big Basket, Flipkart, Mobikwik, JusPay and Dominos, among others, have been targeted by hackers since last year. A majority of such firms, however, have either not informed the impacted users or denied occurrence of such attacks. 
Experts say that lack of clarity on the cybersecurity regulations in India has also added to the laxity on part of the companies. According to a report by a US telecom firm Verizon, a firm may face losses to the tune of $21,659, due to a single data breach incident with 95 per cent of incidents falling between $826 and $653,587. In India, according to the MHA estimates, there was a 300 per cent increase in cyber attacks on companies in 2020 compared to 2019.

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