Did you know?
According to a Business Standard article, approximately 82% of Indian businesses suffered a ransomware attack in 2020!
Also the cost of recovering from the impact of a ransomware attack in India triple over the past year, rising from $ 1.1 million in 2020 to $ 3.38 million in 2021.
As the Indian government strived to digitize the country, companies also rushed to digitize their business processes and operations. While this technological advancement has helped organizations grow their businesses, it has also increased the risk of exposure to critical data and intellectual property theft. From cyber attacks on critical infrastructure to new forms of social media misuse, India has been plagued by various cyber threats for years.
Due to the precarious state of cybersecurity in India, the country has been the target of hundreds of meticulously planned and executed cyber attacks. Modern hackers have learned to use thousands of different techniques and methods to gain access to organizations’ information and money. Any organization that owns sensitive data or relies on real-time calculations is a potential target of a cyber attack.
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What do the numbers say?
With the rapid increase in online fraud, data breaches and cyber scams, India has become one of the countries most affected by cybercrime. Here are some statistics reflecting the cybersecurity landscape in India.
- According to government data presented to parliament, nearly 1.16 million cases of cyberattacks in India were reported in 2020, marking an average of 3,137 cybersecurity issues reported every day of the year.
- IBM’s “2020 Cost of a Data Breach Report” reported that the average cost of a data breach in India in 2020 was $ 2 million, marking an increase of 9.4% since 2019.
- An Inc42 article revealed that since the arrival of the COVID-19 pandemic, India witnessed a 4000% increase in phishing emails and a 400% spike in the number of rule violations.
- According to this article from Inc42, 66% of organizations in India have experienced at least one data breach or cyberattack since switching to a remote working model during the pandemic.
- The FBI Internet Crime Report found that India is ranked third in the world among the top 20 countries to fall victim to cybercrime.
Recent cybersecurity incidents in India
Besides these spikes in cyber attacks and crime, there has been a plethora of catastrophic cyber attacks against organizations across India.
- In May 2020, Edutech Unacademy startup suffered a data breach that resulted in the accounts of 22 million Indian users compromised. The email addresses, usernames and passwords of compromised accounts have been put up for sale on the dark web.
- In October 2020, the data from users of the giant online grocery platform called BigBasket has been listed for sale in an online cybercrime market. The personal information of about 20 million Indian users was sold for $ 40,000. Information for sale included names, email IDs, PINs, cell phone numbers, password hashes, addresses, locations, dates of birth and IP addresses.
- In January 2021, COVID-19 lab test results thousands of Indian patients leaked online apparently through government websites. The disclosed data has been made publicly available on Google. Sensitive information included patients’ dates of birth, full names, centers where testing took place and dates of testing.
- In February 2021, Personally Identifiable Information (PII) of 500,000 Indian police officers was offered for sale on a database sharing forum. The data was traced back to a police examination conducted on December 22, 2019. The information disclosed included the full names, email identifiers, cell phone numbers, dates of birth, criminal history and FIR records of the exam candidates.
- India’s second-largest stockbroker, Upstox, suffered a data breach in April 2021 that reached its 2.5 million customers. Over 56 million KYC data files have been leaked, including email IDs, date of birth, passports, PAN, and more. The infamous ShinyHunters hacker group gained access to KYC details and contact data by compromising a third-party warehouse.
- In November 2020, the data of 1.4 million Indian job seekers leaked online after cyberattack on IIMjobs job portal. The compromised data included the names, email addresses, phone numbers of the victims, the exact location of the users, links to their LinkedIn profiles and their industry.
These incidents clearly indicate the growing need for organizations in India to apply strict cybersecurity protocols and follow cybersecurity best practices. It is only with the coordinated efforts of the public and private sectors that we can hope to stabilize the increasingly deteriorated state of India’s cybersecurity landscape.
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The article The Current State of Cyber Security in India first appeared on the Kratikal blogs.
*** This is a syndicated Security Bloggers Network blog from Kratikal Blogs written by Dhwani Meharchandani. Read the original post at: https://www.kratikal.com/blog/the-current-state-of-cyber-security-in-india/