HomeNewsCyberattacks cost Indian SMBs ₹3.5 crore in past 1 year: Cisco
BENGALURU : More than half of small and medium businesses in India that suffered cyber incidents in the past 12 months said that cyberattacks cost their business more than ₹3.5 crore, according to a new study by Cisco titled ‘Cybersecurity for SMBs: Asia Pacific Businesses Prepare for Digital Defense’.
The Cisco study found that while SMBs in India are more worried about cybersecurity risks and challenges, they are also taking a planned approach to understand and improve their cybersecurity posture through strategic initiatives.
SMBs are ramping up their investments in cybersecurity, with almost half of Indian SMBs having increased their security investment since the start of the pandemic by more than 5%. These investments are well distributed across areas such as cybersecurity solutions, compliance or monitoring, talent, training, and insurance, suggesting a strong understanding of the need for a multi-faceted and integrated approach to building a robust cyber posture.