For example, if a large e-commerce company gets hacked for just 10 seconds, it’s a direct balance sheet impact and a reputational loss, which is the more of an intangible impact.
Saket Modi, co-founder and CEO of Lucideus, an IT Risk Assessment and Digital securities provider gave us more information about online threats in this new-age internet world.
Even for an offline product, for example — retail stores. There is a massive dependence of people on technology and digital.
You can now walk in and customise your entire experience. People are now moving from being passively involved with digital to being actively involved.
If you recall, in the corporate world 10 years back, digital was only about office automation, installing an ERP software or a tally, or install a printer, so that things could be formatted better, few things became more time and cost efficient but that was the extent.Since this transition is happening, hacks are getting sophisticated too.