Hackers coming for Indian firms as fintech rises

Indian enterprises face a high level of cybersecurity risks, putting the country among the top five most targeted markets globally, as democratisation of data and money access to hitherto unbanked populations and an explosion in digital modes of transaction caused a spiral in potential risk exposure for many companies.

Anil Valluri, managing director of India & SAARC, Palo Alto Networks, India, said the world’s most populous nation saw a 75% increase in cybersecurity budget allocation for 2023 compared with the previous year, marking it one of the highest increases in the APAC region.