Last year, Bengaluru topped with the highest number of cyber attacks according to a report by a cybersecurity firm. Read on to know more about the latest report…
According to a study by Quick Heal Technologies, a cybersecurity firm, revealed that last year Bengaluru being the technology hub and the top destination for IT jobs, recorded the highest instances of cyber attack attempts.
According to Quick Heal’s findings, ransomware was reported up to 14 times per minute, signaling increasing risk. Ransomware accounted for 23% of the total malware detections. Cybercriminals are now selling malware as a service (MaaS) along with ransomware as a service (RaaS). While cybercriminals have been using various means of conducting cyber attacks, the internet of things (IoT) is fast becoming the latest and rapidly trending means of a cyber attack. Cryptojacking has replaced ransomware as the number one threat for consumers and enterprises.
“This can be attributed to the relative scalability and simplicity of the millions of devices that can easily be turned into potential victims, to cause cyber attacks of a larger scale and stronger impact,” the report pointed out.
Mumbai, National Capital Region (NCR) and Kolkata are the other major cities in India that were major targets for cyber attacks, with 973 million malware attacks approximately on Windows platforms identified in 2018. This implies an alarming 2.67 million cyber attacks per day. According to Quick Heal security firm, Mumbai, Delhi, Bengaluru, Kolkata and Pune remain ‘most at risk’ to cyber attacks.
The study report revealed that Window devices, which saw 1,985 attempts per minute last year, were targeted far higher than Android or devices on any other mobile platforms. On Windows, Ransomware was reported as the most common form of cyber attack.
Cyber criminals usually target vulnerabilities on the IT systems, online or offline, to install trojan virus or download data unlawfully. Sometime these vulnerabilities exist on older versions of apps and websites that are not removed completely, at other times the nodes between various connected devices (computer, server, cloud, connected devices like a smart watch) may be left exposed with potential to be compromised.
Technology evolution and innovation make it more challenging to detect cyber crimes. Even if the targeted companies are using technology, cybercriminals still find their ways to target. Most cases go undetected as multinational internet giants and social media companies refuse to share information with the police. A primary impact of cybercrime is financial, and Cybercriminals may target private personal information, as well as corporate data for theft and resale. Businesses may also incur direct costs from a criminal cyber attack, including the cost of hiring cybersecurity companies to do incident response and remediation.
The Road Ahead
As it is evident from this report, this trend will continue and grow, as technology facilitates the emergence of cybercrime. As of now, Law enforcement agencies is in danger of slipping further behind the highly sophisticated criminals. In order to lessen their impact on the economy and the public’s confidence, preventing, detecting, investigating, and prosecuting economic crimes must become a priority. Furthermore, new resources, support for existing organizations and innovative solutions are needed to control this growing problem in India.