Number of Data Security Attacks Increased During COVID-19 Pandemic

Large and small businesses, corporates are working from home; private sector banks are requesting customers to use digital means for transactions, food and essentials are being ordered online. With more data feeding in, will it compromise the security of Data? was one of the most important questions raised in today's Corporate Punch session. 

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The ongoing pandemic has pushed the world further towards digitization, and these changes in behaviour are likely to have lasting effects even when the economy starts to pick up.  Increasing application of digital solutions, tools, and services are speeding up the global transition towards a digital economy. 

Large and small businesses, corporates are working from home; private sector banks are requesting customers to use digital means for transactions, food and essentials are being ordered online. With more data feeding in, will it compromise the security of Data? was one of the most important questions raised in today’s Corporate Punch session.

Here is what the panellists had to say at India’s largest 6 day virtual panel discussion on Zoom organized by CorpGini on the topic ‘How technology can help companies operate during a pandemic?’  

Akhilesh Tuteja – Global Cyber Security practice, Co-Leader & Partner, KPMG India said , “There’s going to be some compromise in security because of digitalization. The numbers of phishing cases have increased immensely in India, with lots of frauds happening around this time masked as Covid19 threats. 

The other unique technology trends discussed by the panellists during the session were:

– An increase in the usage of drone technology by the government for surveillance and by e-commerce giants and start-ups for delivery for essential supplies will be observed, said Hitesh Sachdev, Head of Startups – ICICI Bank

– There is a tremendous update in workflow management systems. People were still using physical papers and everything before and now it’s all digitalized. Gautam Balakrishnan, CMO (Services) – Tata Projects Limited.

– Hitesh Sachdev , Head of Startups – ICICI Bank: Virtual call centers and chatbots can help lighten the load from employees and customer solutions. Telesales is becoming more and more relevant

– Puneet Kaur Kohli, CTO & CIO, Manappuram Finance Ltd.: For sales, the field-level delegation has become paperless, the everyday new feature is added to mobility, all Relationship Management has gone digital

 In conclusion a very important question was asked by Mr. Ankur Garg, Chief of AI – Sonasoft, Venture Partner – Z Nation Lab, “Does security defines technology or technology defines security?

In response Mr. Akhilesh Tuteja – Global Cyber Security practice, Co-Leader & Partner, KPMG India said, “Security is way beyond technology, technology is the creator of data/information and security has to go hand in hand. if there is no data/information there is no requirement of security. Only if you have valuable data being shared, you need security. Security is a big profit center. I think security goes way beyond technology. In a large sense, it is about personal security, hygiene, and many more points.”

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