- Fraud is anticipated by 39% of CSO to be the most concerning internal security threat over the coming year compared with a regional average of 28%.
- India is the highest country in the region and second highest country globally behind South Africa to expect the disruption of energy supplies to be a security-impacting hazard next year.
- CSOs plan to make use of several technologies such as internet of things, biometrics and facial recognition technology in their physical security operations.
- More CSOs to use drones, unmanned aerial systems, smart cities and smart buildings technology than anywhere else in the region.
The threat of insider fraud and violence against employees are anticipated to be greater security threats in India in the coming year than anywhere else in Asia Pacific.
According to World Security Report, published by G4S, fraud – deception intended to result in gain – committed by employees in India is anticipated by 39 per cent of CSO to be the most concerning internal security threat over the coming year compared with a regional average of 28 per cent.
Just under a third of CSOs, at 29 per cent, said external fraud will be a threat to their company compared with a regional average of 22 per cent.
“Violence against employees will be a greater external threat in India at 36 per cent than any other country in the world with the exception of Kenya. At 38 per cent, CSOs view violence against employees as a greater internal threat than anywhere else in Asia Pacific – the regional average is 17 per cent,” the report said.
“While cybersecurity often dominates the headlines, the report shows that physical security incidents are just as concerning for CSOs, if not more so. It also highlights the sheer range – and volume – of security-related challenges the country faces,” Rajeev Sharma, Managing Director for G4S India, said.
Some of these, he said are long-standing – for example, violence against employees could easily relate to the safety of female workers when travelling alone – while others, such as climate change, are more recent concerns that CSOs are now grappling with.
Supply chain attacks
However, the report said that supply chain attacks are also expected to be more of an external security threat in India than any other country globally next year, while theft of company physical property is expected to be a greater internal threat than any other country in the region.
CSOs say that subversives – hackers, protestors, spies – pose the most concern out of all threat actor groups next year at 57 per cent, up from 45 per cent last year. India is the joint second highest country in the region alongside Thailand to view this group as a threat.
Geopolitical tensions
Sanjay Verma, Regional CEO G4S Asia Pacific, said that Asia Pacific is a hugely important and dynamic region for the world’s biggest businesses, with their manufacturing and global supply chains often based in the region, while also being at the epicentre of increasing geopolitical tensions.
“The year ahead looks set to be a challenging one, with Asia Pacific expecting to be heavily impacted by economic unrest. Security leaders are cognisant of this and very focused on their security preparedness as the region recovers post-Pandemic and with a healthy rate of growth expected in 2023.”
Turning to security-impacting hazards, India is the second highest country in the region – and fifth highest country globally – to expect climate change to be a genuine security-impacting hazard next year at 52 per cent. This compares with a regional average of 40 per cent and a global average of 38 per cent.
At 50 per cent, India is the highest country in the region – and second highest country globally behind South Africa – to expect the disruption of energy supplies to be a security-impacting hazard next year. The regional average is 32 per cent and the global average is 33 per cent.
To use advanced technology
The report goes on to find that CSOs plan to make use of several advances in technology in their physical security operations.
Top of the list is biometrics and facial recognition technology, which 59 per cent of respondents in India say they will use over the next five years. The regional average is 41 per cent and the global average 40 per cent.
More CSOs in the country also say they will use drones and unmanned aerial systems (UAS) and smart cities and smart buildings technology than anywhere else in the region.
In terms of the financial cost of internal and external security incidents, more than a third of CSOs, at 38 per cent, say they have lost revenue as a consequence over the last year. This is the second highest percentage in the region behind Taiwan.
Related Posts:
- 74% of Indian enterprises hit by ransomware in 2022
- Classiscam will remain one of the major global scam operations this year