Website protection is central to business survival and growth, has been highlighted by data from across the globe. There are still many who believe that their websites are somehow secured against these vicious attacks or that a simple vulnerability scanner is a sufficient security. This lackadaisical approach to web application security combined with the increasing lethality and sophistication of attacks is causing the number of attacks to keep rising.
COVID-19 has fast-tracked the transition to digital payments across the Asia-Pacific (APAC) region as consumers opt for the comfort and safety of digital channels rather than expose themselves to disease vectors such as cash. The current COVID-19 pandemic has further accentuated the importance of digital payments among the consumers.
At the same time, the vulnerabilities are often caused in the website owing to insecure coding practices, choice of frameworks with known vulnerabilities and security misconfigurations, and the use of insecure themes, plugins, and so on. As per the survey, 75% of organizations intend to shift some of their employees to remote-work permanently, this would expose to potential cyber-attacks.
India is one of the fastest-growing digital consumer markets in the world, with more Indians coming online every day. That makes the country a very lucrative market for tech companies. Chinese tech firms including Alibaba, Tencent ,TikTok-owner ByteDance compete regularly with the likes of Facebook, Amazon and Google to reach Indian consumers. Four of the top five smartphone brands in the country are Chinese and control about 80% of the market while homegrown brands have only 1% of the market.
Another, most important thing to consider is as China has set the goal of creating the world’s most advanced artificial intelligence and machine learning by 2030, with the data coming from Chinese apps in the country, their most advanced technology is in the works . If the flow of data being collected from India is broken then the work of their Artificial Intelligence Project will be severely affected.
Given that the threat landscape is fast-developing, new vulnerabilities are identified frequently and the risks facing a website are changing rapidly, there is no one best security solution or strategy. So, staying updated on the latest in security and continuously tuning the strategy is essential.
India has an asymmetric trade relationship with China, its largest trading partner after the United States. India imports intermediate and finished products from China including electrical machinery and equipment, consumer electronics, chemicals, pharmaceuticals and electronic components among others.
Chinese investments into Indian companies have steadily grown in recent years and the data shows, Chinese investors have put an estimated $4 billion into Indian start-ups. As of March, 18 of India’s 30 unicorns — start-ups valued over $1 billion — have received funding from Chinese investors.
India already introduced restrictive measures on Chinese foreign direct investments before last month’s border clash. Reuters reported that the Indian government is reviewing around 50 investment proposals involving Chinese companies under those measures. Analysts says, that any accelerated moves from New Delhi to reduce India’s exposure to China in the short-term may result in supply disruptions and higher input costs, making it a costly move for the economy.