Mumbai: Anti virus software and security solutions provider McAfee, Inc. yesterday revealed the staggering cost and impact of cyberattacks on critical infrastructure such as electrical grids, oil and gas production, telecommunications and transportation networks.
A survey of 600 IT security executives from critical infrastructure enterprises worldwide showed that more than half (54 per cent) have already suffered large scale attacks or stealthy infiltrations from organised crime gangs, terrorists or nation-states. The average estimated cost of downtime associated with a major incident is $6.3 million per day.
The report, In the Crossfire: Critical Infrastructure in the Age of Cyberwar, commissioned by McAfee and authored by the Centre for Strategic and International Studies (CSIS), also found that the risk of cyberattack is rising.
Despite a growing body of legislation and regulation, about 64 per cent of the Indian respondents believe that the current law in the country is inadequate against tackling cyberattackers.
India, Spain and Italy reported lowest security adoption rates - all under 40 per cent. Worldwide, only 20 per cent think their sector is safe from serious cyberattack over the next five years.
McAfee global threat intelligence data suggests that India has recently replaced China (and Russia and Romania) as the richest hunting ground for hackers bent on recruiting infected computers for botnets, another possible result of the disparity between the two countries' security adoption rates.