These and many such incidents show that cybercriminals will always adapt to new trends and situations whether in the use of new malware or targeted attacks techniques to continue their attacks, she added.

She said the severity of attacks has intensified against financial and banking institutions as well as retail outlets globally.

“Total attacks have exposed more than 10 million personal records as of July 2014 and that strongly indicates that organisations need to adopt a more strategic approach to safeguarding digital information,” she said.

Such incidents often lead to stealing of consumer’s personal information like customer names, passwords, email addresses, home addresses, phone numbers, and date of birth.

These types of personal privacy breaches have affected organisation’s sales and earnings, while leaving customers unable to access accounts and dealing with service disruption, Mr. Pilao said.

“The pace of change in technology sector has never been as rapid as it is now, and as a result we see firms struggling to keep up with the latest developments,” she said.

Mr. Pilao added that it is essential that Indian businesses treat information security as a principal constituent of business strategy as time and again it has emerged as one of the top countries witnessing cybercrime.

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