Indian BFSI sector faces 1.6x higher cyber-attack rate globally

A joint study by Boston Consulting Group (BCG) and Data Security Council of India (DSCI) reveals that India's Banking, Financial Services, and Insurance (BFSI) organisations experience cyber-attacks at a rate significantly higher than the global average. The research indicates these institutions face attacks 1.6 times more frequently than their international counterparts. This alarming finding underscores the growing cybersecurity challenges confronting India's financial sector, which handles sensitive customer data and transactions. The study highlights the need for enhanced security measures, employee training, and investment in advanced threat detection systems across Indian BFSI organisations to mitigate escalating cyber risks. Source: Express Computer.