Information technology giant Wipro has today released it’s ‘State of Cybersecurity Report 2017′, in which the firm has claimed that “Cyber-security threat is one of the main risk to its business” and also stated that such threat are bringing its financial obligations to its customers.
The development took places a few month after, when “WannaCry’ ransomware hit a several of system across the telecom’, healthcare and other sectors and gained a lots of popularity in the countries like India, Russia, America, United Kingdoms and 100 other countries.
It has been the most widespread cyber attack in the history of internet, which infected the computers that were running older versions of Microsoft operating systems such as XP, locking access to files on the computer.
While filing to the US Securities Exchange and Exchange Commission, Wipro said that despite the fact that the number of devices is connected to the cloud, the impact of threats is increasing.
Adding that unintentional access to personal and business data, misuse, fraud, misuse, loss / delays, deliberate or accidental act of its employees or other stakeholders.
“As various security control mechanisms are deployed at different layers of technology and reapplied periodically, it can always be difficult to succeed by considering the complexity of the environments.”
“Any potential cybercrime that affects privacy, honesty … can bring financial, data disclosure, confidentiality, security, reputation, loss of customer, legal, regulatory and contractual obligations to Wipro and directly affect customers and partners” It described.
In its latest reports, Wipro said that in 2016 at least 1.38 billion registrations of data were breached as a result of data breaches in businesses around the world. There are about 43 records at this moment.
Such violations not only affect business activities, but at the same time, they often cause serious customer concern for businesses to break down after these attacks.
After the threat are reported, this negative weather is reflected in the decline in share prices and / or lower online trading, resulting in the bottom line of the company.
Infosys, the larger rival of Wipro, has a similar warning note in its annual files.
While Infosys is preparing adequate infrastructure and business continuity plans against cyber security breaches, it can be an effect in effective voice and data communication between various development centers and customers’ sites due to such anomalies.