Cyberattacks have had an effect on 64% of Asian businesses: Reports

Although the majority of people in Asia believe that ransomware and privacy violations are the biggest cyber risks, only 26% of them have increased the security of their computers, devices, and systems, and 31% have not enhanced their data protection capabilities.

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In Asia, despite fast digital transformation, an increase in cyberattacks, and an expansion of cyberthreats, nearly 7 out of 10 businesses are confident in their cyber resilience. On the other hand, nearly half (48%) acknowledge that there is still space for improvement in terms of the cyber hygiene precautions necessary to manage cyber threats. According to the Asia Insights of The State of Cyber Resilience report, which was released on Tuesday by Microsoft Corp. and Marsh, the world’s top platform and productivity provider for the mobile-first, cloud-first world, and the top insurance broker and risk advisor in the world, respectively,

According to the survey, more than 64 percent of Asian organisations have experienced a cyberattack. Ransomware was cited as the top concern for nearly 7 out of 10 respondents (68 percent) among the numerous cyber dangers (58 percent ).

The State of Cyber Resilience: Marsh Microsoft Cyber Survey Findings Report was just released by Marsh India. This study is based on a poll that Marsh and Microsoft performed this year with 660 respondents.

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More over 80 of the 660 responses were from Asia. How were their perceptions different from those of their colleagues globally, particularly in terms of their blind spots? While 69 percent of respondents expressed trust in the cyber resilience of their organisations, nearly half (48 percent) acknowledged that their cyber hygiene procedures might be strengthened.

Although the majority of people in Asia believe that ransomware and privacy violations are the biggest cyber risks, only 26% of them have increased the security of their computers, devices, and systems, and 31% have not enhanced their data protection capabilities.

In comparison to the global average of 17%, 35 percent of respondents only examine new technology for cyber hazards after an attack or incident has taken place.

Critical cyber controls are also inadequate in 34 percent of the countries, compared to 22 percent globally, where endpoint detection and response are absent.

Notably, less than half of all businesses worldwide—12 percent—quantify their financial exposure to cyber risk.

Our paper goes beyond simply providing data highlights to investigate the ramifications and offer solutions to these problems. The Asia edition is included if you want to read more.