In the digital world we live in, a data breach is a common occurrence, and so far, it has cost India almost Rs 16.5 crore so far. Recent reports from a survey conducted by Ponemon Institute powered by IBM Security show that the data was collected from more than 500 organizations that experienced a real-world data breach. The study found it clear that the rise in data breaches was mainly due to the fact that there was a sudden shift in operations during the pandemic. The cost of the same increased by 10 percent when compared to the pre-pandemic levels.
IBM’s Prashant Bhatkal, security software sales leader, has stated that the sudden shift to wfh during the pandemic was unexpected, and it had created a disruption in the security segment while most of the organizations were focusing on shifting online and worrying less about security. He furthermore added that the country witnessed the highest number of data breaches during the pandemic, and some organizations are yet to recover from the impact. Even though many companies managed to make huge profits during the pandemic, they failed to focus on the security aspect. Only proper security measures in place and the use of automation, AI, cloud security, and zero trusts can prevent damages in the future.
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