Wipro Limited, a global IT, consulting and business process services Company, has released its 2019 State of Cybersecurity reports. The report highlights the rising importance of cybersecurity defense to the global leaders, the emergence of CISO as a C-Suite role.

According to the report, one in five CISOs report directly to the CEO, and 15 percent of organization have secured over 10 percent of their overall IT budget for security budget. While, 65 percent of organizations are tracking and reporting regulatory compliance and 25 percent of organizations are performing security assessments in every build cycle. In addition to this, 39 percent of organizations now have a dedicated cyber insurance policy. The above points have seen a dramatic rise from previous years.

The annual report is based on three months of primary and secondary research. This research includes surveys of security leadership, operations analyst and 211 global organizations across 27 countries.

About 25 percent of decrease is seen in publicly reported breaches; while the number of records exposed during attacks has increased by 164 percent and 232 records were exposed per second. Around 38 percent of data records breached were a combination of personally

identifiable information and security credentials such as passwords, as attackers target more specific information for higher monetary value.

With rise in cloud and IOT adoption, 28 percent of organizations consider cloud account hijacking as the most challenging security threats to their cloud environments, and 26 percent of organizations are prioritizing security assessment of IOT devices to eliminate new risks. Nearly 67 percent of organizations are now willing to share indicators of compromise, and 33 percent of organizations are willing to share attacker’s tactics, techniques, and procedures with industry peers. To avoid further attacks, 39 percent of organizations now have a dedicated cyber insurance policy, which has increased by 12 percent from 2017. And 28 percent are participating in cyberattack simulation exercises coordinated by industry regulators.

Amidst growing threats, leaders are collaborating more than ever before in new and innovative ways to mitigate the risks

Raja Ukil, Global Head for Cybersecurity & Risk Services, Wipro Limited states, “With organizations riding the digital wave, security strategies need to be enhanced to address the changing landscape and enable a smooth and safe transition. Security is also evolving to be a pervasive part of core business operations, and countries are establishing active cyber defense strategies and functions to foster partnerships with the private sector enterprises and with other countries. Amidst growing threats, leaders are collaborating more than ever before in new and innovative ways to mitigate the risks.”