Increase cyber security spending to match growing threats

Increase cyber security spending to match growing threats

New Delhi, Feb 14 (IANS) The government should increase spending on cyber security to a level that matches the changing threat landscape, a study by an industry chamber said on Tuesday.

“The government should allocate adequate budget for cyber security related initiatives such as capacity building, training of the workforce, implementing awareness programmes, and promoting research and development,” said the joint study conducted by Assocham and consulting firm PricewaterhouseCoopers (PwC).

The study suggested the industry should make budgets to expand efforts to attract and retain qualified cyber professionals.

“It is important to take proactive measures rather than reactive methods as building safe environments will always be the best line of defence against rising cybercrime,” the paper titled ‘Recommendations — cyber and network security’ said.

It said the government should look at developing comprehensive and mature security policies to ensure that emerging technologies such as Cloud and Smart Cities are protected from cyber threats and risks, and help create a dynamic digital economy.

“Security by design ensures reduction in overall cost to the business and increases the efficiency of the system by making it robust and secure.”

The joint study suggested that in order to promote global cyber security cooperation, India should ensure active collaboration with other countries and global cyber security agencies through international treaties, bilateral agreements and Memorandum of Understandings in order to understand the latest threats and take proactive security measures.