‘If You Spend More On Coffee Than It Security, You Will Definitely Be Hacked’

BVG India Global Head Rupal Sinha on Saturday said investment into a preventive and troubleshooting cybersecurity management is a must for companies today. She added that if companies spent more on coffee than on IT security, they were highly likely to be hacked.

Speaking at the CAPSI Security Leadership Summit 2022, Sinha said there are only two types of companies, those who have been hacked and those who will be hacked. She emphasised that companies need to take cybersecurity seriously in the present day to prevent cybersecurity incidents. 

“Organisations in India in recent times are seeing a lot of cyber hacks, where ransom money has been demanded in very large sums,” she said.

Sinha stressed this was an indication that in terms of categorisation of attacks, ‘cyber’ was taking the top position, even above business disruption and natural catastrophes. “This means that it needs to be taken very seriously,” the BVG India Global Head added.

For organisations, Sinha advised they need to change system passwords across the company, every month. She said if this is not done, organisations risk opening up their emails and platforms to compromises. This could result in siphoning off of sensitive data and funds.

“Most of the cyberattacks come through emails and for most of the emails we get tempted to reply within the first 10 minutes. And there you are, you have an attack and malware is sitting on you.”

She said that organisations often fail at not having a constant training program, not identifying, protecting and responding to security incidents. Sinha emphasised that companies need to take investing in cybersecurity management seriously.