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Information security spend to rise in India: E&Y

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Survey finds 60% of respondents setting up controls to check new risks.

Information security has become one of the leading priorities for Indian companies.
Information security has become one of the leading priorities for Indian companies.

Big deal

Top-five priorities for organisations in India and abroad are business continuity, data leakage, information security risk management, compliance with regulatory requirements and corporate policies

Top trends include increase in auditing capability and stronger identity and access management system

Our Bureau

Mumbai, Dec. 7

Indian organisations will increase spend on information security this year, according to an Ernst & Young report.

The top five priorities for all organisations, both here and abroad, are business continuity, data leakage, information security risk management, compliance with regulatory requirements, and corporate policies.

Nearly 1,600 organisations in 56 countries participated in E&Y's 13 {+t} {+h} annual Global Information Security Survey released on Tuesday.

Priority

Information security has become one of the leading priorities for Indian companies with 61 per cent of respondents agreeing that their employer would be spending more this year on information security as compared to 46 per cent globally.

“The traditional enterprise border is in the process of becoming a legacy. Workforce mobility, cloud computing and use of social networking media are driving changes in the environment. Security measures have to match these trends to mitigate the potential impact,” said Mr Terry Thomas, Partner Risk Advisory Services, E&Y.

However, only 55 per cent of Indian respondents said that adoption of cloud computing will increase, if certification is made available based on an agreed standard or if organisations can show certification by an accreditation body.

Agreeable framework

“To fill this vital gap, professional bodies and institutions should work together to evolve an agreeable framework from which a standard can emerge,” said Mr Thomas.

According to E&Y, 60 per cent of the respondents are implementing security awareness controls to mitigate new or increased risks. Other top trends include increase in auditing capability and stronger identity and access management system.

Universally, while organisations see business continuity as one of the top five risks, no action is taken to assess and extend the (business continuity) management capabilities of critical third parties, says E&Y.

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(This article was published in the Business Line print edition dated December 8, 2010)
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