Indian Companies more Prone to Cyber Attack, 60% Software Unregulated

More than 60% of the software used by companies in India is unregulated which poses a threat of cyber attacks, according to business practices firm EY. According to EY survey, over 49% of chief information officers identified security threats from malware as a major threat posed by unlicensed software, while 26 per cent employees admitted to installing outside software on work computers.

Maya Ramachandran (Partner, Advisory Services Practice at EY) said :

“Many organisations secure their hardware. However, they do not pay attention to the software used, which could be unregulated.”

“Several large corporations and multinational companies have started setting up software asset management offices that would look into the leading best practices of using software including compliance and licensing terms to the software vendor.”

“Middle market companies are more concerned about running the business and may ignore peripheral matters including cyber security.”

“An organisation with stringent software asset management practices can operate a secure and cost effective IT environment.”

Software asset management would address inadvertent downloads of malware through unauthorised software, or software of unknown vendors and use of removable media to download software that is not supported in a corporate environment. It would also address issues like use of older versions of software, unauthorised connection of personal devices to corporate networks, among others.