Only 2% Indian firms spent substantially on their cybersecurity budget this year: KPMG report

As many as 72% Indian companies faced a cyberattack this year, even as cyber criminals got ever more aggressive and sophisticated. And while there was a recognition of cybercrime being a major threat, only 2% organisations spent more than 20% of their IT budget on information security and cyber defences.

These and several other observations are part of the findings of consultancy KPMG’s “Cybercrime survey report 2015,” released on Monday. The respondents include over 250 C-level executives from organisations across different sectors including banking and finance, manufacturing, oil and gas, infrastructure and government and telecom.