Digital transformation in India is accelerating, but with this comes the looming threat of cyberattacks. Emerging technologies, such as the Internet of Things (IoT) and 5G, are driving new growth opportunities for the country and opening up its connected ecosystem. However, this has introduced new risks for organizations, with more and more touchpoints and entryways for cybercriminals to exploit.
“Cyber attackers have a number of concerning methods they can employ, like spearphishing for example. It just takes one email or fraudulent attachment with persuasive language to cause considerable damage to your organization.”Nandan Patil, Country Manager- India, LogRhythm
According to Statista, over 1.3 million cyber-attacks were reported throughout the region in 2022. Critical organizations such as hospitals are among those frequently targeted by threat actors. Cybersecurity vendors are responding to this ever-growing challenge by increasingly leveraging and developing innovative solutions to secure customers’ assets. The cloud, artificial intelligence (AI), and machine learning (ML) are all being increasingly leveraged within their solutions to protect critical data.
In a conversation with Nandan Patil, Country Manager- India, LogRhythm, we discovered many facets of the cybersecurity industry. Nandan has spent over 20 years in the industry and worked with Microsoft, Wipro, EMC Software, and SIFY.
Navigating the Modern Threat Landscape
Data breaches are a continually growing issue across the globe, with more than 6 million data records exposed globally in the first quarter of 2023. India is no exception to this, and the region is at risk of considerable losses from new and emerging threat tactics.
According to Nandan, cybersecurity is still in its infancy, and not every region or organization has attained the same level of security or technological advancement. Even though the industry is evolving, there are now different technologies organizations should be turning their attention to. “There was a time in which we had to explain what a firewall was,” says Nandan. “Nowadays we are past that as firewalls are commonplace, but we must instead explain cloud technologies like Secure Access Service Edge (SASE).”
With rising cyberthreats comes the rise of new security technologies and it can be hard for organizations to know where they should be investing their budgets. For example, over recent years, the industry has witnessed the rise of Extended Detection and Response (XDR) solutions. This technology has seen rapid adoption as it excels at analyzing data sources to identify threats. However, it only focuses on a narrow set of data, and therefore cannot analyze large volumes of data simultaneously. Without also having a Security Information and Event Management (SIEM) platform in place, organizations remain vulnerable to damaging threats. SIEM solutions collect, store, and report on log data to identify potential security incidents on behalf of security analysts. The solution covers a broad range of use cases in order to keep up with the expanding threat landscape.
Today’s Top Security Trends
There are a number of factors that can contribute to a successful cyber-attack. Operating systems (OS) that aren’t updated, social engineering attacks, and phishing emails are just some of the different methods bad actors can use to gain access to data. One thing that threat actors frequently exploit is human error. Employees mistakenly giving their credentials to cybercriminals is an easy way into the system, and according to Statista, 6 out of 10 employees in the first quarter of 2023 reported attempted phishing emails.
“In India we’re very active on social media platforms. But this can lead individuals to expose a lot of personal information, which can then be leveraged by threat actors,” Nandan added. “Cyber attackers have a number of concerning methods they can employ, like spearphishing for example. It just takes one email or fraudulent attachment with persuasive language to cause considerable damage to your organization.”
More and more organizations are steadily making cybersecurity a business priority. Critical industries are investing heavily in cybersecurity and SIEM platforms to ensure the protection of sensitive data. “The financial sector has been an early leader in embracing cybersecurity,” said Nandan. “They have been utilizing Security Operations Center (SOC) operations for the last 8 to 10 years, and other industries should consider investing in their security as well.”
According to Nandan, the other industries investing in, and prioritizing cybersecurity are manufacturing and transportation. The services sector such as oil and gas companies are lagging behind other industries in terms of cybersecurity.
In response to mounting threats, the Government has introduced guidelines for the protection of critical infrastructure to provide a framework for organizations to follow. These guidelines call for organizations to invest in their protection, but the adoption of cybersecurity measures still fluctuates extensively from industry to industry.
Consolidating Your Security Approach
Organizations need effective security solutions to identify any suspicious activity in their network. LogRhythm’s comprehensive product portfolio offers the choice of cloud-native SaaS SIEM platform, LogRhythm Axon and self-hosted SIEM platform, LogRhythm SIEM to support its customers, no matter where they’re at in their cybersecurity journey.
“We see ourselves as the next generation of SOC. We have moved on from Relational Database Management Systems (RDBM) to Big Data Technology to keep up with modern threats,” said Nandan. “The introduction of technologies like IoT, 5G, etc. has created numerous entry points that require a dedicated platform to prevent threat actors from taking advantage of them. The older technologies such as RDBM have limitations when it comes to tackling such large volumes of data that SIEM solutions don’t.”
“Our searches are among the fastest in the entire peer group. We have User and Entity Behavior Analytics (UEBA) built into our platform along with Network Detection and Response (NDR), Security Orchestration Automation and Response (SOAR) and, MITRE ATT&CK framework. Most SIEM platforms incorporate UEBA as a third-party product, but this is not the case with our solution. We also have SOAR built into our platform.”
LogRhythm SIEM not only looks at the logs but also stores and reports on the data. “I think putting all the technologies together in one platform provides us with a distinct advantage and we have not priced it separately,” added Nandan.
The User Interface (UI) of LogRhythm’s security solution is simple and easy to navigate to speed up the operation process. “Our solution can be up and running within 10 days, giving organizations comprehensive visibility across their systems in record time,” added Nandan. “LogRhythm’s SIEM can integrate seamlessly into an organization’s security strategies to reduce overworked teams’ workloads.”
Expanding Security Solutions Across India
By deploying security solutions, organizations protect against evolving threat tactics and continue to thrive in the growing Indian digital market. In 2024, LogRhythm is looking to further expand into the Indian market and penetrate more sectors. The company aims to provide more SME customers with powerful and accessible cybersecurity.