Indian firms lost $500,000 to cyber attacks in 1.5 years: CISCO survey

Cyber attacks in the country caused financial damages to the tune of about $500,000 to India companies in the last 12-18 months, says a study.
"...more than half of all attacks resulted in financial damages of more than $500,000, including, but not limited to, lost revenue, customers, opportunities, and out-of-pocket costs," the technology firm Cisco 2018 Annual Cybersecurity report released today said.

Cisco interviewed around 200 organisation across vertical in the country including financial services, manufacturing, government (including defence), telecommunication, retail, healthcare, pharmaceuticals, education.

The report said that security is getting more complex and scope of breaches is expanding.
"Defenders are implementing a complex mix of products from a cross-section of vendors to protect against breaches. This complexity and growth in breaches has many downstream effects on an organizations ability to defend against attacks, such as increased risk of losses," the report said.