The threat of insider fraud and violence against employees is anticipated to be greater security threats in India in the coming year than anywhere else in the Asia Pacific. That’s according to the first-ever World Security Report published by G4S, a London-based global security company. 1,775 Chief Security Officers (CSOs) in 30 countries at large, global companies with total revenue of more than $20 trillion took part in the research.
Fraud – deception intended to result in gain – committed by employees in India is anticipated by 39% of CSOs to be the most concerning internal security threat over the coming year compared with a regional average of 28%. Just under a third of CSOs, at 29%, said external fraud will be a threat to their company compared with a regional average of 22%.
Violence against employees will be a greater external threat in India at 36% than in any other country in the world except Kenya. At 38%, CSOs view violence against employees as a greater internal threat than anywhere else in Asia Pacific – the regional average is 17%.
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%, up from 45% last year. India is the second-highest country in the region alongside Thailand to view this group as a threat.
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%. This compares with a regional average of 40% and a global average of 38%.
At 50%, 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% and the global average is 33%.
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% of respondents in India say they will use over the next five years. The regional average is 41% and the global average is 40%.
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%, say they have lost revenue as a consequence over the last year. This is the second-highest percentage in the region behind Taiwan.
Further findings from the World Security Report for India:
Security threats and incidents
- Alongside the USA, it recorded the joint second-highest rate of protests or demonstrations globally last year at 25%. The regional average was 15% and the global average was 14%.
- It experienced the second highest rate of misuse of company resources or data behind Kenya at 46%. This compares with a regional average of 38% and a global average of 35%.
- 66% say their physical security budget will increase significantly over the next 12 months. The global average is 46% and the regional average is 42%.
- 70% say their cyber security budget will increase significantly over the next 12 months. The global and regional average is 50%
Future of security
86% say the recruitment of security officers will be challenging over the next five years on par with the global average of 84%.