ABSTRACT
Over the last few years, India has witnessed an exponential increase in cybercrime. In 2017, India ranked third after US and China as the most vulnerable country in terms of risk of cyber-attacks. As data thefts have increased by over 700% from 2016 to 2017, the average cost of a data breach has reached USD 1.7 million. With new regulatory compliance requirements such as GDPR, the Boards and executives are increasingly being held accountable for management of cyber security risk. The goal of this paper is to introduce cyber security and its importance, work done in this areas, cyber security technologies, and challenges. A key finding of this research is that despite significant investments in training and awareness-building, employees still end-up clicking on malicious emails and sharing sensitive information on insecure websites. Indeed, careless and malicious employees account for a vast majority of data breaches in companies. There is a critical need to focus on the “human” element of cyber-security to enhance cyber-resilience. This paper would help to understand survey result and data security challenges faced by Indian companies.
