Rs. 1.25 lakh crores lost to cyber crime in India in 2019!
Galatta | Oct 23, 2020, 07:46 pm
Advancement of technology has forever had its negative aspects too and has been both a boon and a bane, at all points of time in our history! Ever since the World Wide Web and the internet came into public use, it has made our lives a lot easier but at the same time, opened up an easier way for cyber criminals to access our financials and misappropriate them! A recent report states that a massive amount of Rs. 1.25 lakh crores worth losses were sustained by Indians in 2019, due to cyber crime! National Cyber Security Coordinator Lt. Gen (Dr.) Rajesh Pant has revealed that this is only likely to go up, as our country rolls out the 5G platform and begins developing smart cities. He also added that only a very few Indian companies are involved in the cyber security business and that there is a huge vacuum in this sector!
Mr. Pant also expressed his opinion that a dedicated industry forum be set up in India, for developing cyber security, especially indigenous, desi solutions to fight against cyber attacks! While addressing an event recently, Pant said, "Last year, the official figures were Rs. 1.25 lakh crores lost due to cyber crimes in India. Ransomware attacks are increasing everyday and these criminals have been working from home. They have no qualms and are heartless people. They are attacking hospitals because they know that in an emergency, hospitals will pay." He also added that there are a number of vulnerabilities in our smart devices, especially mobile phones, which people use to access a number of services.
Explaining his statement, Pant said, "We did an analysis on the attack vector in a mobile phone. We found that it is not only apps but there are 15 different attack vectors from where I can hack into a mobile phone. That includes the operating system, its processors, memory chips, communication interfaces, bluetooth as well as Wi-Fi." One of the most dangerous sources found to leak data are the pre-installed apps in phones and those apps which have been installed form unverified or third party sources! In his Independence Day address to the nation on August 15th, our Prime Minister Narendra Modi had revealed that a new cyber security strategy was being developed and would soon be presented to the nation, as the dependance on cyber space will increase multifold, in the coming years! We hear that the National Cyber Security Strategy (NCSS) is presently at the final level, waiting for the final signatures to be rolled out! Stay secure and keep your private data safe!