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Cloud Technology Could Be Key to Curb Data Breaches: ThoughtSol CEO

© AP Photo / Elise AmendolaIn this June 19, 2017, file photo, a person types on a laptop keyboard in North Andover, Mass.
In this June 19, 2017, file photo, a person types on a laptop keyboard in North Andover, Mass. - Sputnik India, 1920, 17.03.2023
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A report by Swedish VPN services firm Surfshark has ranked India seventh among countries witnessing the most data breaches. In 2022, 4.7 million email accounts in India were breached.
As digitalization is picking up rapidly in India, it has also caused risks of data breaches and cyber fraud.
Last week, at least 40 people in Mumbai lost hundreds of thousands of rupees after clicking on a link sent to them via a fake bank message.
In yet another incident, a government employee working as officer on special duty for Chhattisgarh's culture minister lost INR 100,000 ($1,211) in four installments as he clicked on a link sent via fake message.
The government, along with several private tech firms, is working to provide effective solutions to curb cyber fraud.

What is ThoughtSol?

ThoughtSoL, a tech solution and service provider company that provides cloud, security, data centers, digital and next-generation solutions, as well as services, is making determined attempts to advance, create, and innovate while increasing its client base and modernizing business.
In an interview with Sputnik, ThoughtSol CEO Vinet Kuumar talked about the most vulnerable sectors in terms of data breaches, how to prevent cyber breaches, and deliberated on other issues.
Sputnik: India is the seventh most cyber-breached country in the world. How can the issue of cyber breaches be dealt with?
Kuumar: I believe that the most effective way to deal with the issue of cyber breaches is to focus on strengthening our cyber security infrastructure. We must invest in cutting-edge technology and tools to ensure that our systems remain secure from any malicious online threats.
Additionally, we must ensure that our employees are regularly trained on the best practices for cyber security to help reduce any potential risks.
Furthermore, we should continuously monitor our systems for any suspicious activity and immediately take corrective measures in case of any breach.

Data Protection Bill: Potential and Possible Flaws

Sputnik: The government has introduced the Data Protection Bill. Do you think the bill is effective and its implementation will help address the issue of data breaches?
Kuumar: Yes, the Data Protection Bill has the potential to be effective in addressing data breaches. The bill outlines a set of regulations that companies must follow in order to protect their customers' data and protect against unauthorized access.
This will help to ensure that companies take necessary steps to prevent data breaches and protect their customers' data. Additionally, the bill requires companies to take appropriate measures to ensure that personal data is securely stored and managed.
This will also help to reduce the risk of data breaches and protect customers' data. The implementation of the bill will also help to create a culture of data security, which will further help to reduce the risk of data breaches.
Sputnik: What challenges do you see in the bill?
Kumar: One of the biggest challenges I see with the recently passed Data Protection Bill is that it fails to provide workable solutions for the prevention of data breaches. While the bill does contain measures to protect the data of individuals, it does not provide any concrete steps to help organizations prevent data breaches.
Additionally, the bill does not address the need for organizations to have better security protocols in place. It is important for organizations to have strong security measures in place to protect their data, but the bill does not provide any guidance on how to do this.
Therefore, organizations will still be vulnerable to data breaches and will have to rely on their own resources to protect their data.

Healthcare and Pharma as Main Targets

Sputnik: Which are the most vulnerable sectors in terms of data breaches?
Kuumar: I believe the most vulnerable sectors in terms of data breaches are those that rely heavily on digital systems and networks to store and process sensitive information. This includes sectors such as healthcare, pharma, finance, retail, and government.
Healthcare is particularly vulnerable due to the high volume of personally identifiable information (PII) stored on its networks, while finance is susceptible due to the large transaction volumes and money transfers taking place on its networks.
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Retailers are often targeted due to the high volume of customer information they hold, and government organizations are vulnerable due to the sensitive data they must store and process.
All of these sectors must be vigilant about data security, as a breach of their networks can have serious financial and reputational consequences.

Cloud Solutions: What Does It Involve?

Sputnik: How can the cloud help companies protect their data?
Kuumar: I believe that cloud technology can help companies protect their data in several ways. Firstly, cloud solutions provide a secure, off-site storage for data that is accessible from any Internet-enabled device. This reduces the risk of physical theft or damage that could occur with on-site storage solutions.
Secondly, cloud solutions offer multiple layers of security, from authentication to encryption, to protect data, making it difficult for unauthorized users to access confidential information.
Third, cloud vendors use the latest technologies to detect and prevent malicious activity and data breaches, ensuring that data remains safe and secure.
Finally, cloud solutions provide businesses with an easy, cost-effective way to back up and store their data.
This way, if data is lost, businesses can easily restore it from the cloud without having to invest in expensive hardware and software. Overall, cloud technology is an effective way for companies to protect their data and ensure that it remains secure and confidential.
Sputnik: How are you targeting the growing fintech and health tech sectors?
Kuumar: Our strategy in targeting the rapidly growing fintech and health tech sectors is to focus on creating innovative solutions that can help streamline processes and increase efficiency. We are utilizing advanced technologies such as artificial intelligence, machine learning, big data analytics, and blockchain to create innovative products and services that will help our clients improve their operations.
Additionally, we are actively investing in research and development in these sectors to stay ahead of the curve in terms of technological trends and advancement. Our team of highly skilled professionals is constantly exploring new ideas and ways to develop better solutions for our customers.
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