Cyberattacks keep offices on their toes

NEW DELHI : Indian companies are seeing a wave of cyberattacks as hacker groups and criminals attempt to take advantage of employees working from their homes on vulnerable networks, security experts said.

In addition to the losses that they may incur due to business disruption caused by cyberattacks, firms are having to significantly boost spending to secure their networks, pushing up costs even as revenues dry up.

Such attacks have doubled between 17 and 20 March in India, according to an April PwC report. Software services provider Cognizant reported last week that a ransomware attack on the company is expected to have a revenue impact of as much as $70 million in the second quarter. The US-based has most of its staff in India.