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New Indian Express
26-05-2025
- New Indian Express
PEO arrested for embezzling Rs 1.37 crore
BERHAMPUR: Golanthara police on Sunday arrested the panchayat executive officer (PEO) of Laudigaon under Rangeilunda block in Ganjam on charges of misappropriating around Rs 1.37 crore government funds. The accused is Samir Kumar Mishra. The fraud came to light after a complaint was filed by block development officer of Rangeilunda Biswajit Ray. A resident of Aska, Samir had joined as the PEO of Keluapalli panchayat around six years back under a rehabilitation scheme after the death of his father who was also an executive officer. The accused was also managing the affairs at Laudigaon panchayat since the last one year. However, after appointment of Susanta Pattanaik as the new PEO of Keluapalli earlier this month, he was in charge of Laudigaon panchayat. Berhampur SP Saravana Vivek M said Samir was the custodian of cheque books, cash books, and other financial documents of Keluapalli since 2019 and he was responsible for managing the funds of the panchayat with the sarpanch's approval. However, last year, he reportedly forged the sarpanch's signature to embezzle funds from a joint account in Union Bank's Tulu branch.
Time of India
20-05-2025
- Business
- Time of India
Only 7% of organisations in India ready for cyber threats: Cisco report
Amid a growing wave of AI-driven cybersecurity threats, only 7% of organisations in India are adequately prepared to defend against them, according to Cisco's 2025 Cybersecurity Readiness Index. This is a modest increase over the 4% reported last year. Overall readiness remains alarmingly low, particularly as hyperconnectivity and the rise of AI continue to introduce complex new security challenges. The report is based on a double-blind survey of 8,000 private sector security and business leaders in 30 markets. This is a research method where both the participants and the researchers interacting with them are unaware of certain key aspects of the study, to avoid bias. The report states that 9 in 10 organisations faced AI-related security incidents last year. However, only 66% of respondents are confident that their employees understand these threats. About 63% believe their teams fully understand how malicious actors use AI to execute sophisticated attacks. Live Events 'As cyberattacks grow in scale and sophistication, the risks now extend far beyond data loss. Organisations face operational disruption, damage to brand reputation, and erosion of customer trust,' Samir Kumar Mishra of Cisco India & SAARC said in a statement. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Also Read: Cybersecurity agency CERT-In flags spike in online threats Understanding the foe The lack of cybersecurity readiness in India is high as 81% of respondents anticipate business disruptions from cyber incidents within the coming two years. About 96% of organisations are using AI to understand the threats, 88% use it for threat detection and 77% for response and recovery. This shows that the technology contributes equally on both sides of the fence. Another important finding was that 46% of employees use approved third-party generative AI tools . However, 28% have unrestricted access to public Gen AI tools and 43% of IT teams are unaware of employee interactions with Gen AI. With hybrid work models, 90% of organisations are exposed to security risks as employees access networks from unmanaged devices. Investment priorities shift About 98% of organisations plan to upgrade their IT infrastructure . However, only 54% allocate more than 10% of their IT budget to cybersecurity (a 7% reduction year-over-year). A staggering 92% of respondents identified a shortage of skilled cybersecurity professionals as a major challenge, with 65% reporting more than ten positions to fill. Looking ahead, respondents identified malicious actors and state-affiliated groups as more significant threats to their organisations than internal risks.
Time of India
20-05-2025
- Business
- Time of India
Indian enterprises' cybersecurity budget lags even as AI-driven threats rise: Cisco
NEW DELHI: Only 54% of the surveyed organisations in India are allocating a meaningful IT budget to cybersecurity despite a rise in cyber threats, particularly driven by artificial intelligence (AI), according to the findings of a latest Cisco survey released on Tuesday. 'While 98% of organisations plan to upgrade their IT infrastructure , only 54% allocate more than 10% of their IT budget to cybersecurity (down 7% year-over-year), emphasising a critical need for more focused investment in comprehensive defense strategies,' Cisco said in its findings. The vendor said that AI is 'revolutionising security and escalating threat levels', with 95% of organisations facing AI-related security incidents last year. However, only 66% of respondents are confident their employees fully understand AI-related threats, and 63% believe their teams fully grasp how malicious actors are using AI to execute sophisticated attacks. 'This awareness gap leaves organisations critically exposed,' Cisco said. At the same time, 92% of respondents said the shortage of skilled cybersecurity professionals is a major challenge, with 65% reporting more than 10 positions to fill. Cisco, in its report, has recommended fortifying cybersecurity across identity intelligence, machine trustworthiness, network resilience, cloud reinforcement, and AI fortification against cyber threats. 'As AI transforms the enterprise, we are dealing with an entirely new class of risks at unprecedented scale - putting even more pressure on our infrastructure and those who defend it," said Cisco Chief Product Officer Jeetu Patel. 'Organizations must rethink their strategies now or risk becoming irrelevant in the AI era.' 'As cyberattacks grow in scale and sophistication, the risks now extend far beyond data loss—organisations face operational disruption, damage to brand reputation, and erosion of customer trust,' said Samir Kumar Mishra, director (security business), Cisco India & SAARC. 'Addressing the talent shortage and mitigating risks from unmanaged devices and shadow AI will be equally critical to building resilience and safeguarding trust in an increasingly digital world,' Mishra said. Cisco said its findings are based on a double-blind survey of 8,000 private sector security and business leaders in 30 global markets.
