Finclusion
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog
No Result
View All Result
Paytm
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog
No Result
View All Result
Finclusion
No Result
View All Result
New research shows that understaffing is a key problem to fighting crimes online. (Image Source: Pexels)

New research shows that understaffing is a key problem to fighting crimes online. (Image Source: Pexels)

Cybersecurity in the digital era — New research shows that understaffing is a key problem to fighting crimes online

October 9, 2023
in Fintech
414 8
0
Share on FacebookShare on Twitter

In today’s digital age, almost everything is happening online from making payments, ordering food, chatting with friends, to official work. However, with the increasing footsteps of digitalisation, cybercrime has also gained pace. 

According to a report by Hindustan Times quoting PTI, as per a new study by an IIT Kanpur-incubated start-up named Future Crime Research Foundation (FCRF), financial frauds accounted for over 75 percent of cyber crimes in the country from January 2020 till June 2023, with nearly 50 percent cases related to UPI and internet banking. Social media-related crimes like cheating by impersonation, cyber-bullying, sexting and email phishing accounted for 12 percent of the online offenses during the period, the study showed.

You might also like

Paytm and Google Pay, along with PhonePe, are now integrating FRI alerts into their platforms. (Image by Storyset on Freepik)

Paytm, PhonePe, Google Pay Join DoT’s New Push to Curb Cyber Fraud with FRI Integration

May 26, 2025
Paytm Appoints Ramana Kumar as CEO for Middle East. (Image Source: Paytm)

Paytm Appoints Ramana Kumar as CEO for Middle East to Lead Global Expansion Strategy

May 23, 2025

Globally, the top three attack concerns remain the same as last year—enterprise reputation (79 percent), data breach concerns (69 percent) and supply chain disruptions (55 percent), according to ISACA’s annual research report, State of Cybersecurity 2023, Global Update on Workforce Efforts, Resources and Cyberoperations. 

Cybercrime and Cybersecurity

Cybersecurity plays a major role in protecting against cybercrime. But what if cybersecurity teams are understaffed or are facing difficulty in retaining qualified cybersecurity professionals?

According to ISACA’s annual research report, “New cybersecurity data hones in on where cybersecurity pros come up short, with soft skills, cloud computing, and security controls emerging as the biggest skills gaps in today’s cybersecurity professionals globally and in India”

The report added that 40 percent of Indian respondents say their cybersecurity teams are understaffed, according to the ninth annual survey—which explores the latest cybersecurity threat landscape, hiring challenges and opportunities, and budgets, with insights from 113 security leaders in India.

Cybersecurity Staffing and Skills

69 percent of survey respondents in the country face difficulty in retaining qualified cybersecurity professionals. “Globally, continuing to reduce retention woes may be difficult given that benefits offered to cybersecurity pros have been declining—potentially driven by economic uncertainty. According to respondents worldwide, university tuition reimbursement dropped 5 percentage points to 28 percent, recruitment bonuses fell two percentage points, and reimbursement of certification fees dropped by a percentage point, compared to 2022,” the report stated. 

Top 5 Technical Skills in Cybersecurity

India-based respondents are looking for the following top five technical skills in cybersecurity pros while hiring:  

  1. Cloud Computing: 46%
  2. Penetration Testing: 42%
  3. Forensics: 38%
  4. Identity and access management: 38%
  5. Data protection: 38%

When looking at soft skills, critical thinking (59 percent), problem solving (51 percent), decision making (49 percent), communication (47 percent), and leadership qualities (33 percent) come in as the top five skills global employers in India are seeking in cybersecurity job candidates. 

Respondents in India examined where cybersecurity professionals are lacking—cloud computing (50 percent), soft skills (43 percent), security controls (43 percent), network related topics (41 percent), and pattern analysis (35 percent) as being the biggest skills gaps they see today.

How to Mitigate Top 5 Technical Skills in Cybersecurity

Top approaches to mitigate the above mentioned technical skills gaps are training non-security staff who are interested in moving into security roles (55 percent), increasing use of reskilling programs (46 percent), using performance-based training (33 percent), leveraging AI/automation (32 percent), and increasing usage of contract employees or outside consultants (30 percent). 

When addressing nontechnical skills gaps, organizations are leveraging online learning websites (62 percent), corporate training events (50 percent), mentoring (49 percent), and academic tuition reimbursement (21 percent).

Tags: cybercrimeCybersecuritycybersecurity in IndiaDigitalisationISACA

Related Stories

Paytm and Google Pay, along with PhonePe, are now integrating FRI alerts into their platforms. (Image by Storyset on Freepik)

Paytm, PhonePe, Google Pay Join DoT’s New Push to Curb Cyber Fraud with FRI Integration

by Finclusion
May 26, 2025
0

In a major step to fight cyber fraud and financial scams, the Department of Telecommunications (DoT) has rolled out the...

Paytm Appoints Ramana Kumar as CEO for Middle East. (Image Source: Paytm)

Paytm Appoints Ramana Kumar as CEO for Middle East to Lead Global Expansion Strategy

by Finclusion
May 23, 2025
0

Fintech major Paytm has appointed Ramana Kumar as the Chief Executive Officer for its Middle East business, marking a significant...

Hide Payment is aimed at giving users greater control over how their payment records are displayed.

Paytm Rolls Out ‘Hide Payment’ to Boost Privacy in Mobile Transactions

by Finclusion
May 19, 2025
0

Paytm has introduced a new feature called ‘Hide Payment’—a user-centric enhancement that allows individuals to privately hide or unhide specific...

PB Fintech FY25 PAT Jumps 5.5x to ₹353 Cr. (Image source: PB Fintech website)

PB Fintech FY25 PAT Jumps 5.5x to ₹353 Cr, Revenue Grows 45% to ₹4,977 Cr

by Finclusion
May 16, 2025
0

PB Fintech, the parent company of Policybazaar and Paisabazaar, reported a robust financial performance for FY25, with profit after tax...

Next Post
Paytm's strategy aligns well with the Indian government’s digital transformation agenda and the regulatory drive for an open and scalable payment system. 

Paytm CEO Foresees 500 Million Payment Users in India's Future

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finclusion

© 2024 Finclusion

Quick Links

  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog

© 2024 Finclusion

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version