KOCHI:Panish Hangal, partner, Arka Advisory Services India, Bengaluru, said our legal system must be further strengthened to tackle Aadhaar database leak. Speaking at a seminar on ‘Cyber Security for Business Resilience’ organized by Indo- American Chamber of Commerce here, he pointed out that in US and European countries, the legal system is so stringent that huge penalty has to be paid for a data breach.
“As the Facebook authorities didn’t give us any undertaking on the privacy of data, we are not in a position to go for legal remedy against the company for data breach”, Panish said, in a reply to a question.
In today’s scenario, data breach is the biggest threat a business can face.
How one can protect his business from this risk? Many business owners feel that their company is too small to be at risk. Figures revealed by Symantec show that over 43% of cyber attacks in the recent past were targeted towards small businesses. This shows why cyber security is all the more critical to small and medium-sized business than larger ones, who may have the resources to constantly upgrade their security systems from time to time.
Cyber security is not just about technology and computers. It involves people, information systems, processes, culture and physical surroundings as well as technology. It aims to create a secure environment where businesses can remain resilient in the event of a cyber breach. Email ‘phishing’ attacks regarding payment requests have impacted numerous clients in recent months resulting in millions of dollars of financial fraud. Laptops, desktops and handheld devices are being hacked using malicious software resulting in exfiltration of sensitive and confidential corporate documents.
Again disgruntled former employees are sabotaging information systems impacting the company’s business operations.Information Security Management System (ISMS) implementation leading to ISO 27000:2013 certification can help organisation’s with a structured approach for achieving or maintaining their objective, adds Panish Hangal.Indo- American Chamber of Commerce Kerala Chapter chairman P Ravindranath welcomed the gathering and Sujatha Sunil offered a vote of thanks.