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Deciphering the motivation and impact of cyber attacks

CERT-In, India’s cybersecurity agency, released a consultation last week about a massive phishing attack in India. The introduction of digital services has placed India at the forefront of hacker groups, many of which are connected to neighbouring countries. The coin takes a deep dive.

Cyber-attacks against India are on the rise?

Since mid-March, when the number of Covid 19 cases in India began to rise and the offices encouraged people to work from home, attacks on many Indian companies have also increased. According to the PWC, many Indian organisations have experienced high unemployment between the ages of 17 and 20. March 2020: 100% increase in cyber attacks. According to Kaspersky’s May Report, the number of cyber attacks on Indian companies increased in the first half of 2010. quarter 2020 compared to the fourth quarter This means an increase of 37% in the first quarter of 2019. Phishing attacks, which consist of offering information about Covid-19s and equipment or carrying out free tests with the intention of stealing personal data, have also increased in India in recent months.

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Cyber attack

Who are these people or nations targeting India?

According to Subex, a telecommunications analyst firm, India was the most targeted between April and June 2019. Most cyber attacks on India were carried out in Slovenia (74,998), Ukraine (55,772), the Czech Republic (53,609), China (50,000) and Mexico (35,201). Hacker groups with ties to Pakistan have also stepped up their attacks on the Indian government and individuals. China is suspected of being behind the conspiracy against government institutions, telecommunications and pharmaceutical companies. The two hacker groups, Gothic Panda and Stone Panda, who are behind these attacks, have close ties with the Chinese People’s Liberation Army.

Which target is most vulnerable?

The problems caused by coronaviruses in the workplace have only exacerbated cyber security problems. Any organisation that is forced to move its activities online as quickly as possible is vulnerable. Even people who are not fully aware of best security practices and are using digital payment solutions or tools for the first time are vulnerable.

What are the consequences of cyber attacks?

According to the IBM 2019 report, cyber attacks and data loss organizations in India cost an average growth rate of ₹12.8 between July 2018 and April 2019. At a global level, the average cost of data breaches in this period was ₹27 crore. In addition to the losses due to malfunctions, cyber attacks can lead to loss of brand value. It can also lead to lawsuits and heavy fines being imposed on the ground by the government or the regulator. The proposed Personal Data Protection Act provides for a maximum fine of ₹15 crore or 4% of the annual turnover in case of violation.

What’s the purpose with India?

Most cyber attacks are motivated by financial gain. Hackers use vulnerabilities to access the company’s network and then block them in their systems, forcing them to pay ransom. In recent years, however, the number of state-sponsored attacks on India has increased. The reason for this is a warning to India or to companies that are critical of rival neighbours such as China and Pakistan. Many large hacker groups are looking for intellectual property, which is crucial for any company that wants to sell it to Dark Web.

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