Data loss shocker: 1 in 6 Indian corporates impacted, says Symantec

Internet security solutions leader Symantec, has unveiled findings of a study on the mounting risk of data loss in Indian enterprises – and it is not a pretty picture: one in six Indian enterprises is impacted by critical issues of data loss.

“ Information is the new dollar”  said Vishal Dhupar, Managing Director, Symantec India, “The need to protect sensitive information like source code, intellectual property, employee and customer accounts has made businesses realize that data loss can turn into a catastrophe and become a competition, compliance and credibility black hole”. He was speaking to  the media in Bangalore, on Monday, while discussing key sections  of  the study  that was conducted for Symantec by  analysts IDC (India).The study carried out in August this year included 142 respondents across banking financial services,  manufacturing, media/entertainment, telecom, IT enabled services etc.

Among important findings:

  •  More than 16 percent of organizations in India admitted to facing a data loss issue in the recent past. 
  • By and large, such data loss is due to  threats from within the organization, not necessarily intentional – but a threat nevertheless.
  • Yet ironically, only 15 percent of the surveyed organizations have adopted any form of data loss prevention measures
  • Respondents judged that more than 50 percent of information residing within their organization  would be  classified as sensitive.. a somewhat high number, possibly reflecting the nature of  key business in the Indian outsourced services sector.
  • Large enterprises particularly in banking and financial services, showed the highest awareness of Data Loss Preventon (84 percent) while adoption was very low in medium and small enterprises. The other  key sectors investing in DLP  in India, include IT/ITes (30%), Telecom (18%) and  Manufacturing (12%)

/Bangalore Nov 3 2009