June 27, 2023 - securitylinkindia

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New Security and Fire Safety Solutions for India Unveiled at SAFE West India 2023

MassMediaLink India LLP SecurityLink IndiaJune 27, 2023November 14, 2024015 mins

5000+ attendees and 75+ brands from around the world gather for the debut edition from 18 to 20 May Industry lauds the release of special ‘India Risk Review’ white paper report by MitKat Advisory Informa Markets in India India’s leading B2B event’s organizer, inaugurated the first edition of the Security and Fire Expo (SAFE), West India (18- 20 May) today with the aim of bringing key stakeholders in the security domain on one platform and to deliberate on new-age challenges to the security of cities and organizations. The SAFE expo is a subset of the IFSEC, India and has also seen great success in South India. The threeday exhibition and two-day conference being held at the Bombay Exhibition Centre, Mumbai, was met with an enthusiastic, positive response on the very first day, bringing in higher levels of anticipation for the rest of the event. As the SAFE West expo enters its second day, it presents a unique opportunity to connect and network with India’s largest assembly of decision-makers, specifiers, and end-users. The event is showcasing the swift advancements in India’s security market and emphasized on trends, innovations, challenges, and opportunities required for its future growth and expansion. The opening ceremony took place in the presence of key dignitaries – Dr Rukmani Krishnamurthy, Ex-Director, Directorate of Forensic Science Laboratories, Govt. of Maharashtra & Academic council member, National Forensic Science University, Gujarat, Ministry of Home Affairs, Capt. Sanjeev Tiwari, ARVP, ASIS India West Region; Vinay Khanduri, CPP, CFE, Head, Security & Vigilance, Adani Electricity, Capt. Rajesh Sharma, Founder & Board Member, Global Association for Corporate Services; Yogesh Mudras, Managing Director, Informa Markets in India and Pankaj Jain, Sr. Group Director & Digital Head, Informa Markets in India in an august gathering. At the inaugural ceremony of SAFE West India, Dr Rukmani Krishnamurthy, Ex-Director, Directorate of Forensic Science Laboratories, Govt. of Maharashtra & Academic council member, National Forensic Science University, Gujarat, Ministry of Home Affairs said, ‘‘By integrating innovative security measures, such as CCTV, RDX detection, and more, we are extending the realm of forensics into the corporate sector. Cybersecurity is now a critical necessity, backed by government focus and the need for corporate monitoring to minimize risks. Our approach includes preventive training for law enforcement, corporate professionals, and individuals in positions of power. To tackle complex cyber issues such as intellectual property theft, traditional system checks are insufficient. Hence, we employ innovative techniques like lie detectors to efficiently narrow down culprits and resolve matters effectively. Our focus on preventive technology and security innovations ensures a comprehensive and forensically integrated security system which we hope we can all integrate going further.” Highlighting the importance of security, Vinay Khanduri, CPP, CFE, Head, Security & Vigilance, Adani Electricity said, “The convergence of physical security and cyber-IT may not be inevitable; rather, it is the IT aspect that will encompass and integrate physical security within the overall security framework. As professionals with considerable years of service ahead, it is crucial for us to continuously upgrade, upskill, and align ourselves with this evolving landscape. Exhibitions like this provide an excellent platform to explore the latest market technologies and gain insights into prospects. I am grateful for this opportunity and eagerly anticipate the unveiling of the technology that awaits us today.” Capt. Rajesh Sharma, Founder & Board Member, Global Association for Corporate Services also said, “The volumes and magnitude we witnessed here today has surpassed what was previously seen in India. SAFE West has undoubtedly done a commendable job, and we aspire to create a similar platform to our center of excellence. As the saying goes, if we use yesterday’s tool in today’s business, we will be out of business tomorrow. Thus, this platform becomes essential for all of us. Here, we can encounter firsthand what we otherwise search tirelessly for online. I am confident that we will all derive immense benefits from this experience, as it solely depends on the connections and relationships we establish.” While comparing security industry with auto industry, Capt. Sanjeev Tiwari, ARVP, ASIS India West Region said, “This platform serves as an exceptional experience for users, demonstrating its immense value with numerous participants, exhibitors, and OEMs showcasing their technologies. When we compare it to users in the auto industry, they are often ahead of manufacturers, possessing a clear understanding of their needs. However, in the realm of security, safety, and fire safety, users generally lack awareness of the cutting-edge technologies available today. Platforms like this bridge that knowledge gap, empowering users to comprehend and leverage these technologies for optimized security. Over time, security has evolved from relying heavily on manpower with limited processes and technology to embracing advanced technology, robust processes, and reduced human intervention. With this purpose in mind, this initiative stands as an outstanding endeavor.” Top industry leaders and pioneering innovators came together at SAFE West India 2023, sharing the latest research, developments and products revolutionizing security and fire safety, specifically targeting the Western Indian markets with over 75 brands. These included companies like Earth, Hikvision, Prama, Realtime, Tiandy – Premier Partners – Biomax, eSSL, Magtech, Rova, Syrotech, Timewatch, TP Link, Voltaic Zkteco, Aavik, Avtron, Bioroles, COFE, CCL, D P Garg, Eagle Eye Networks, Fyber, Hubris, SOS, Lifelong, Securus and many more. Hikvision has even launched their eDVR 1TB for enhanced storage capacity, eSSD Technology helps in 45% energy savings at SAFE West India 2023. Hikvision has launched three new products at SAFE West 2023. During the launch Ashish P. Dhakan, MD & CEO, Prama Hikvision India Pvt. Ltd said, “We see a great synergy of these products with the safe reopening phenomenon happening now in the post-pandemic times. The schools, stores, offices, retail shops and many other application scenarios can benefit from the ‘touch-free’ experience that face recognition provides. With advanced deep learning technology and diverse practical functions, we expect that MinMoe DSK1T320 Access Control Terminals can bring more security and efficiency to our small and medium sized customers, making access control, time and attendance, much easier. This is…

Feature

The 2023 Global Ransomware Report

MassMediaLink India LLP SecurityLink IndiaJune 27, 2023November 14, 2024029 mins

While 78% of organizations believe they are ‘very’ or ‘extremely’ prepared to mitigate an attack, 50% still fell victim to ransomware last year Vishak Raman Vice President of Sales, India SAARC and Southeast Asia at Fortinet Executive summary Fortinet recently surveyed 569 cybersecurity leaders and decision-makers from organizations of all sizes and industries around the globe to understand their perspectives on ransomware, how it has impacted their organizations, and what strategies they have in place to mitigate a potential attack. In this year’s survey, more than 80% of respondents say they are ‘very’ or ‘extremely’ concerned about the threat of ransomware, yet a similar number (78%) of organizations surveyed also believe they are ‘very’ or ‘extremely’ prepared to thwart a breach. Despite those concerns and feelings of preparedness, half of the organizations surveyed still fell victim to ransomware last year. Of the organizations that experienced a ransomware incident, 71% said they paid at least a portion of the demanded ransom, even though 72% indicated they detected the incident within hours (often within minutes). And while nearly all respondents had cyber insurance, this didn’t guarantee that all costs would be covered, or data restored. In fact, only 35% of those affected by ransomware recovered all their data after the incident. It’s not all bad news, though. In fact, despite economic uncertainty, nearly all leaders surveyed (91%) expect increased security budgets in the coming year to invest in technologies and services that further safeguard their networks from a potential ransomware attack. In general, security leaders’ top priority is to implement advanced technologies such as artificial intelligence (AI) and machine learning (ML) that enable faster threat detection, followed by central monitoring to speed response. And specifically, Internet-of-Things (IoT) security and next-generation firewalls (NGFWs) topped the list of areas and products that leaders planned to invest in, with the greatest increase in plans to implement endpoint detection and response (EDR) and secure email gateway (SEG) solutions. This is a promising plan, as phishing emails were the number one method respondents reported ransomware actors used to gain entry. And of course, the endpoint is the ultimate destination of ransomware. “Though three out of four organizations detected ransomware attacks early, half still fell victim to them. These results demonstrate the urgency to move beyond simple detection to realtime response. However, this is only part of the solution as organizations cited the top challenges in preventing attacks were related to their people and processes. A holistic approach to cybersecurity that goes beyond investing in essential technologies and prioritizes training is essential” Interestingly, while many security leaders have traditionally believed that buying the best individual product for a project will yield the strongest cybersecurity posture, this year’s survey data indicates that those organizations that reported taking a point product approach were the most likely to become a victim of ransomware. However, technology is only part of the solution. The survey found that four out of the top five challenges in preventing ransomware were related to people and processes. As ransomware proliferates and attacker methods grow in sophistication, organizations of all shapes and sizes are a target, making it crucial that security leaders invest in the right technologies, people, and processes now to prevent a ransomware incident in the future. The Growing sophistication of ransomware makes every organization a target While ransomware has existed for decades, the global threat remains at peak levels. It also continues to become more sophisticated, causing increasing harm to organizations worldwide. According to observations from the FortiGuard Labs Incident Response (IR) team, financially motivated cybercrime accounted for the highest volume of incidents (74%) in 2022, with 82% of financially motivated cybercrimes involving the deployment of ransomware or malicious scripts. While year-over-year ransomware growth has slowed in 2022 – following the explosion of this attack method in 2021 – the frequency of it is still increasing. For example, in the first half of 2022, FortiGuard Labs observed the introduction of 10,666 new variants – that’s double the number seen in the six months prior.2 The likely reason for the change is that Ransomware-as-a-Service (RaaS) operations are maturing, enabling cybercriminals to successfully introduce new, more sophisticated, and aggressive variants than ever before. And they are also being more selective, specifically targeting organizations able to provide a large payout. In contrast to the early success of RaaS, which initially relied on volume – more affiliates meant more opportunities to infiltrate networks and launch attacks – RaaS operators are increasingly becoming more selective regarding the associates they allow to join their operations. This more systematic approach to executing ransomware attacks is yielding greater success. For starters, they’re spending more time conducting reconnaissance to identify lucrative targets, meaning that many ransom demands now reach well into the tens of millions of dollars. Additionally, the ransoms these groups are demanding from their targets now tend to be commensurate with the organization’s size and industry. Many cybercriminal organizations use a formula to determine what amount to ask for so that a victim is more likely to pay. This growing maturity of ransomware operations is to be expected, given that RaaS is a significant driver of Crime-asa-Service (CaaS). Yet, as RaaS operators become more aggressive with their playbooks and incorporate increasingly destructive elements into attacks – such as the growing use of wipers – organizations of all shapes and sizes must implement appropriate security strategies to mitigate potential breaches. Ransomware attacks are common and costly Given the evolution and growing sophistication of ransomware operations, it’s not surprising that 84% of organizations represented in this year’s survey remain ‘very’ or ‘extremely’ concerned about this threat, which is even higher than the 76% of respondents that expressed the same level of worry when surveyed in 2021. However, despite these concerns, 78% also believe they are ‘very’ or ‘extremely’ prepared to prevent or mitigate a ransomware attack (up significantly from the 63% who felt that way in the prior survey). In fact, more than 90% of those surveyed said that having a ransomware strategy…