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Cyber attacks lost 40 percent customers base in 2016 of breached organisations

Over one-third organisations that experienced a cyber breach in 2016 reported loss of customer, opportunity and a revenue loss of more than 20%, according to Cybersecurity Report.

The report surveyed nearly 3,000 chief security officers (CSOs) and security operations leaders from 13 countries.

Two big changes have happened in the cybersecurity practice in India over the last couple of years. First, the network has now become the first line of defence for your entire infrastructure, no matter if the infrastructure is on-premise, on the cloud on are laptops, desktops or mobile devices. Secondly , there is a growing realisation that breaches will definitely happen, so there is a crying need to come up with solu tions to mitigate those breaches once they happen.

India saw an 85% increase in IP blocks, which represent the security system blocking an email sender because of their behaviour.

The significant increase in IP blocks could be attributed not just to the rise in spam volume but also to security repu tation systems adapting to the new information automatically gathered about spam senders. Emerging economies like Brazil, Mexico, Vietnam and China have also seen significant increase in IP blocks.

The report found that spam accounts for 65% of the total email volume, thriving through spam-sending botnets like Necurs, and 8% of this spam is malicious. Cyberattackers also found new ways to attack enterprise systems, with some advertising campaigns employing brokers that act as middle managers, masking malicious activity. This gives attackers a virtual “cover“, allowing them to move with greater speed, maintain their operational space, and evade detection.

The Report also found that 20% of breached organisations lost customers, with 40% of them losing more than 20% of their customer base. As many as 29% lost revenue and 23% breached organisations lost business opportunities.

Old-fashioned adware software that downloads advertising without user permission, continued to be the leading cause of infecting 75% organisations investigated.

Cloud also proved to be an entry point for attacks, with 27% employee-introduced, thirdparty cloud applications being categorised as high risk.

 

Reference from-  The Economic Times