With India’s continuous shift towards digitalisation of payment transactions, cybercrime has become more and more lucrative for cybercriminals. If the magnitude and multitude of data breaches reported worldwide in the recent past is any indication, India has a lot to be concerned about. It is reported that cybercrime is projected to reach $2 billion by 2019, which is a four-fold increase in the cost of security breaches over 2015. Likewise, during the last year, unknown malware downloads rose by over 900%, with more than 970 downloads per hour compared to 106 in the previous year.
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SP Jain School of Global Management,
Thought Leadership,
Finance & Economics,
Disruptive Technologies