Cybersecurity and Data Privacy Industry in India
With Globalisation, India has opened doors to new technologies. With new forms of technology, there are also new threats that affect the technology used. The cybersecurity and data privacy sector in India has evolved over a while. In FY 2019-20, this sector has provided more than USD 4.3 Billion. As per the Compound Annual Growth Rate, this sector is supposed to grow over more than 21% by 2025. Companies with effective IT departments have implemented cybersecurity and data protection policies to remove any cybersecurity threats.
The growth of this sector will be influenced by the constant collaboration between companies and IT service providers.
What is Cybersecurity and Data Privacy Services?
Cybersecurity is understood as a procedure where security systems are used to protect systems, servers, emails, cloud storage, and emails. Cybersecurity is not just security to devices but also security for programs, software, and devices.
Every organization should have an effective cybersecurity protocol to counter any form of a Cybersecurity threat. This protocol has to effectively implemented throughout all departments in the organization. An organization is not just safe by implementing the protocol. The organization has to devise strategies to constantly update protocols. Through constant implementation, an organization can protect its systems from significant cybersecurity threats.
Data Privacy, also known as data protection, is the terminology used when it comes to protecting users' sensitive data. Data privacy is a branch of IT security that is concerned with the management of data.
Data protection revolves around the following:
- Protection of Sensitive Data.
- Sharing of Data with Third-Party Organisations.
- Any form of Regulatory Restrictions on the Use of Data.
Normally organizations that work with consumers would ask them to fill in a form that contains confidential and sensitive information. This information must be secure and stored correctly. Cybersecurity and Data Privacy overlaps in an organization, as confidential information would come under the data privacy area, and protecting such information would come under cybersecurity.
Scope of Cybersecurity and Data Privacy Services
These services are essential in the organization for the following reasons:
- To protect systems and servers from cybersecurity and data breaches.
- To ensure compliance is followed by the organization regularly.
- To keep the organization safe from any form of cyberattacks.
- To ensure that employees are well informed about cybersecurity actions taken by a company.
Regulation Behind Cybersecurity and Data Privacy
In India, there is no particular law that deals with cybersecurity issues. The Information Technology Act, 2000, regulates information technology, cybersecurity, and data thefts. The Government of India has brought out rules and regulations related to information breaches.
Some of the regulations and rules are as follows:
- The Information Technology Act, 2000.
- The Information Technology (The Indian Computer Emergency Response Team and Manner of Performing Functions and Duties) Rules, 2013.
- The Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data ) Rules, 2011.
- The Information Technology (Intermediaries guidelines)Rules, 2011.
- The Personal Data Protection Bill 2018.
- GDPR – General Data Protection Rules 2018.
An organization following proper cybersecurity protocol has to ensure to abide by the above rules.
Eligibility Criteria for Cybersecurity and Data Privacy
There are no particular eligibility criteria for an entity to streamline a cybersecurity and data privacy service protocol.
Any organization, company, partnership, Non-Government Organisation, or other entities are allowed to have cybersecurity and data protection protocols. An organization can outsource this work to a third-party IT company.
Procedure for Cybersecurity and Data Privacy Protocol
An organization having personal data and information would be readily willing to have a system for cybersecurity and data protection. The following have to be maintained for an effective cybersecurity protocol in an organization.
Cybersecurity Protocol Process
- Management Driven Policies- When a cybersecurity protocol is introduced in an organization, it must be documented. Once documented, the cybersecurity protocol can be introduced within the organization. The protocol has to be accepted and implemented by the management of the organization.
- Implementation of Employees- Once the cybersecurity protocol is implemented within the organization, all the employees must be trained regularly.
- Business Training and Real-Time Events- All the business units must be trained on cybersecurity policies. An organization can have a real-time(cyber threat) scenario that affects the business. The business will analyze whether to conduct further training on action-driven policies based on the action taken by the business during the real-time situation.
- IT Training- Information technology is the key used in developing cybersecurity protocols. Therefore, the IT team in an organization must constantly develop processes to ensure cybersecurity protocols are updated.
- Security- Both information and physical security are important elements of an organization's effective cybersecurity protocol. Hence the organization must make sure to have systems in place to ensure physical and informational security is present.
- Constant Monitoring- Just having a security protocol for cyber-related attacks is not enough. An organization must have effective ways to monitor cybersecurity and information threats that affect the organization.
Data Protection Protocol Process
- Transparency- An organization must be transparent at all levels of hierarchy. Hence, it is crucial to conduct an informational audit. Large organizations are required to conduct this more occasionally as there are bigger changes of information breaches on customer data.
- Data Security- Every organization with a data protection framework must ensure proper standards related to the use of data and security. Data privacy is essential when an organization collects the personal data of an individual. First and foremost, the data which is collected by an organization must be encrypted. This will avoid the misuse of information by a particular source. Once information is in an encrypted form, it has to be stored by the company in a database. Data Security also involves compliance with relevant data protection regulations. A company that is involved in storing data would have to comply with the principles of the General Data Protection Bill, 2018. A company has to not only comply with data protection principles domestically but also has to comply with the principles internationally. If the company has a presence in the European Union or deals with customers from the EU, then compliance with the norms related to General Data Protection Rules (GDPR, 2018) is mandatory.
- Governance and Accountability- Data governance should be implemented throughout the organization. Without a practical framework for data governance, storing information on customers would be impossible. Every employee of the organization must be accountable for their actions. This would not apply just horizontally in an organization. It would also apply in a vertical hierarchy.
- Privacy Rights- Before implementing the policy in an organization, the organization must understand that respective rights related to the protection of the privacy of employees must be respected. An organization collecting information must provide consent forms to customers. An organization can only process this information once customers have given consent. Once consent is provided, an organization can utilize such information.
Cybersecurity and Data Privacy Threats
An organization has to ensure that effective cybersecurity and data privacy systems are in place to reduce potential threats in an organization. The following are cybersecurity and data privacy threats which affect an organization:
Types of Cybersecurity and data privacy threats:
- Email Phishing- Phishing is understood as an illegal and fraudulent attempt to secure private information related to an individual or company. The fraudster obtains the information by sending surprising information such as a lottery or an award. The individual receiving such email is not required to provide information to the fraudster. If the information is provided, it will be used fraudulently.
- Trojans- Trojan is a malicious code or a program that is used to steal information from individuals' devices. Trojans used can take full control of the computer. The software in the Trojan would look genuine to the user. However, once this is clicked on, the software will take complete control over the system.
- Ransomware- It is a program of software that is used to encrypt information available to an individual. Some of this information is encrypted; the fraudster will demand money as a ransom to release the information present in the computer or device.
- Wiper Attacks- Wiper attacks are somewhat similar to ransomware. In a wiper attack, the information present in the hard drive is temporarily or permanently erased by the software.
- Email Spam- Cybercriminals use this method to target individuals' email addresses. Bulk emails are sent to the inbox of the individual. The individual can erase email spam by deleting the mail. However, an individual email user has to be cautious before opening any email.
- Intellectual Property Theft- It is a way in which the intangible rights of the user are stolen. Some of the intangible rights include Copyrights, Patents, Trademarks, and Designs. Such information can be stolen from a website or an article which is written by an individual. There are both legal and non-legal remedies for such stolen information.
- Money Theft- Money theft can be through a form of application or website. Cybercriminals target banking and payment applications to steal money from individuals.
- Data Manipulation- Manipulation of Data is just making some amendments in data to affect the reputation of organizations to a large extent.
- Drive-by Downloads- This is an unintentional way to download a particular drive. This drive will steal information. Having an adblocker is the best way to reduce this cybersecurity threat.
- Malvertising- It is a method used by cybercriminals to carry out illegitimate advertising. Malware and virus are placed on advertisements, and these advertisements are channeled on the internet. They are also placed on websites.
- Rogue Software- This is also known as a fake software that installs itself in the laptop or computer device to remove necessary files.
- Unpatched Software- A software which is weak and is vulnerable to more amount of cyberattacks is known as unpatched software.
How can cyber threats and data braches be reduced?
An organization can implement secure cybersecurity and data privacy protocol to reduce the number of cyber threats in an organization. Effective implementation and evolving are the critical factors that affect the organization.
How can Enterslice help in Cybersecurity and Data Privacy Services
- Enterslice can assist your organization by reacting to cybersecurity threats.
- We have a team of trained IT professionals who can carry out effective IT and systems security audits to ensure your organization is free from cyber and data threats.
- Our professionals will help your organization implement effective protocols related to cybersecurity and data privacy.
- The compliance team will make sure you are compliant with the laws related to information technology and data protection.
- We also offer cyber risk management services that are beneficial to your organization.