Saturday, May 28, 2022
News

'Information & Cyber Insecurity' are biggest risk in business operations: IRS 2017

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Friday, Jun 23 2017 IST
Federation of Indian Chamber of Commerce and Industry (FICCI) has said that 'Information & Cyber Insecurity' as the biggest risk in 2017. According to 'India Risk Survey (IRS) 2017, done by FICCI in association with Pinkerton, there has been an increase in incidences of cyber-attacks and potential espionage on cyber-security. The survey said that Information & Cyber Insecurity has become more pronounced due to the shift that the nation is undergoing towards digitisation of various assets and services being delivered via internet and mobile platforms; and the ever-present loopholes that hackers breach upon. The WannaCry malware incident has been, by far, the worst incident this year in which several systems were attacked, both of the public and the private sectors. India Risk Survey 2017 which was released today by FICCI consists of 12 risks that pose the most significant threats to business perception and operations in the country. The new age risks are interconnected and overlap across domains, sectors and geographies. New risks have been identified on the basis of this year's survey, which include: risk of non-compliance, business investment risk and legal regulatory risk.'Terrorism and Insurgency' risk rising up two spots from its position last year has been ranked as the second biggest threat to businesses in India this year. India has been featured 16 times in Global Terrorism Index in the list of 10 countries most affected by terrorism for the period 2000-2016.Left-Wing Extremism (LWE) perpetrated by communist terrorist groups remains the most severe terrorist threat. The persistent risk posed by 'Terrorism and Insurgencies', creates a risk perception in the minds of investors with interest in the Indian market. Although, India has invested heavily in its security capability to mount effective counter-terrorism and counterinsurgency operations this risk, however the effects of the perception of this risk continues to affect businesses especially with respect to foreign investment.The ranking of 'Corruption, Bribery & Corporate Frauds' is at number 3 in the survey. As per World Bank's Doing Business 2017 rankings, India currently stands at 130 out of 189 countries. There is an overall sense of lowering corruption via regulations such as GST, Demonetisation, Make in India, the Digital India Program. However, the nature of corruption is such that it refuses to be completely removed.The India Risk Survey 2017 ranks 'Natural Hazards' fourth highest risk to businesses, up from last year's seventh position. India is considered at a 'high risk' of natural hazards with flooding identified as the most significant risk to businesses and communities in the country. More UNI ADP SHK 1733

-- (UNI) -- C-1-1-DL0429-946472.Xml

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Former Haryana CM Om Prakash Chautala ge...
Delhi court to pass order against ex-Har...
Sushil Modi calls Bengal govt's move to ...
Physical activity, healthy diet can help...
Sambhaji Raje withdraws nomination for R...
Uttarakhand to implement Uniform Civil C...
More...    
 
 Top Stories
We have team that can win the title... 
PTI's 'Haqiqi Azadi March' cost gov... 
Centre launches Indian Business Por... 
India-Bangladesh Mitali Express to ... 
Plea in Mathura court claims Hindu ... 
Former Punjab minister Vijay Singla... 
Tamil Nadu: Woman police officer he... 
Being exposed to new things makes p...