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Tag: Cyber security Measures

  • Cyber Attacks: India the Third Most Cyber-Attacked Nation

    The digital world has made our life easier and faster. Nowadays, anything is possible with just a click or a touch. It wouldn’t be wrong to say, that our life revolves around the internet. Every business, organisations, and companies are on the internet. However, with the increase in the use of the internet in the world, we have seen a drastic increase in cybercrime as well. Many organisations and faced cyber-attacks on them.

    Firstly we need to understand what a cyber-attack is. A cyber-attack can be defined as a malicious activity or planned attempt by any organization or an individual to steal or corrupt the information of the system of another organization or individual. Cybercriminals or hackers generally use various methods to attack the system; some of them are malware, ransomware, phishing, denial of service, and other methods. In this article, we will talk everything about India being the third most cyber-attacked nation and what steps the Government has taken. So, let’s take a look at them.

    Types of Cyber Attacks
    Reasons Behind Cyber Attacks
    Biggest Cyber Attacks in India
    Steps Taken by Indian Government

    Types of Cyber Attacks

    Cyber attacks are done in many forms by criminals and hackers and some of them are defined below:

    Malware

    Malware can be known as malicious software, which includes spyware, viruses, worms, and ransomware. Malware violates laws and launches a network through a vulnerability, generally happens when a person clicks on a minacious link or email attachment that then installs the risky software into your system without your permission. Once this software attacks your system, the malicious software can manage to do things such as install some more malicious and additional harmful software, can obtain and spy on all the information present on the hard disk, can disrupt some components of the system, and can block your access to manage some important components of a computer network.

    Phishing

    It is a cyber-crime in which a target receives an Email, telephonic call, or a text SMS by someone who pretends to be a lawful organization or institute to lure the targets into providing essential data and sensitive information such as banking details, credit cards, and debit card details, personal information, and various account passwords. Then these details are used by the attacker to access the information-which can further result in financial loss, cyberbullying, cyber blackmailing, and identity theft.

    Man-In-The-Middle Attack

    This cyber-attack is also known as eavesdropping, takes place when attackers insert themselves in between transactions of two-party. Once the attacker interrupts the traffic, they can rectify and steal information. On less secure public Wi-Fi, attackers can indulge themselves between a visitor device and the network through the same Wi-Fi connection. Without having an idea, the user passes all information through the attacker- after the malware reaches inside the device, the attacker can install malicious software to steal all of the victim’s data.

    Denial-Of-Service Attack

    DoS is a cyber-attack that is meant to shut down a server, network, and machine by making them inaccessible to the right users. DoS floods the target with traffic, or it just sends irrelevant information that triggers a crash of the server or network.  Sometimes attackers can also use multiple compromised devices to attack. This is known as Denial-of-service (DoS).

    SQL Injection

    Structured Query Language Injection is a cyber-attack that takes place when the attackers insert the malicious coding inside the server that takes over the SQL and forces the system server to disclose the crucial information and data. SQL Injection destroys the database, and the attacker can modify or delete the data stored in the database, causing persistent changes to the application behavior or content.

    DNS Tunneling

    It is the most damaging DNS attack. Domain Name Systems turns into a hacking weapon. DNS tunneling is a cyber-attack where the hacker or attacker encodes the information of other protocols or programs in DNS queries and responses. DNS tunnelling generally holds data payloads-which can be added to an attacked DNS server and is used to control applications and remote servers.

    Reasons Behind Cyber Attacks

    There are several reasons why these cyber attacks take place and they are:

    • To gain business financial details.
    • To gain customer financial information (for example- Bank details).
    • To gain product design or trade secrets.
    • To gain login credentials and email addresses of various customers or staff.
    • To gain or steal sensitive personal information.
    • To make a social or political point.
    • To destroy a business competitor.
    • For financial gains.
    • Cyber-warfare: It is a war caused by the Internet to leak information.

    Biggest Cyber Attacks in India

    SIM Swap Scam

    In Mumbai, two hackers were arrested for transferring almost 4 crore rupees from various bank accounts in August 2018. They illegally transferred money from the bank accounts of numerous individuals just by gaining SIM card information. Both the hackers blocked individual SIM cards, and with the support of fake documentation, they pulled out transactions with the help of online banking. Various company accounts were also on the target.

    Hacking of Indian Healthcare Websites

    In 2019, Health Care websites became the target of cyber-attack. As confirmed by US-based cybersecurity firms, hackers broke in and invaded a leading India-based healthcare website. The hackers were able to steal the information of about 68 lakh patients as well as doctors.

    Hacking of UIDAI Aadhaar Software

    In 2018, around 1.1 billion Aadhaar cardholders’ personal information was breached. According to data by UIDAI, more than 210 websites leaked the essential Aadhar details online. Data leaked included Aadhaar, mobile numbers, PAN, bank account numbers, IFSC codes, and mostly all the personal data of all individual Aadhaar cardholders. If it was not quite shocking, some anonymous hacker was selling the Aadhaar information of individuals for 500 rupees through WhatsApp.

    ATM System Hacked

    In 2018, cyber attackers targeted the ATM servers of Canara Bank. Almost around 20 lakh rupees were stolen from various accounts of Canara Bank account holders. There were around 50 targets estimated according to information provided by the source. The cyber attackers were able to steal the ATM details of around more than 300 account holders. Hackers were using skimmed devices to wipe out the information from debit cardholders. The transactions made by hackers from various accounts amounted from 10,000 rupees to a maximum amount of 40,000 rupees.

    Cosmos Bank Cyber Attack in Pune

    Attacked by hackers in the year 2018. The cyber-attackers pulled off almost 94.42 crore rupees from Cosmos Cooperative Bank, which shook the entire banking sector of India. Hackers were able to steal huge amounts by hacking the ATM server of the Bank and gathering the information of debit cardholders and visa details. Hackers from around 28 countries immediately withdrew all the money as soon as they were informed.

    Global Weekly Cyber Attacks per Organisation
    Global Weekly Cyber Attacks per Organisation

    Steps Taken by Indian Government

    To counter these attacks, the Government of India has taken a few steps to secure companies and organisation from being victim.

    Personal Data Protection Bill

    The bill implies the processing and storage of any critical data related to individuals living only in India. It majorly states that the sensitive and essential personal information of the individual should be stored locally; however, it can only be processed abroad under some terms and conditions. The bill also focuses on making social media companies more accountable and urging them to solve issues related to the spread of irrelevant and offensive content on the internet.

    Website Audit

    Surrounded by the rising number of government website hacking, data theft, email phishing, and privacy breach cases in India, the Indian government has taken initiatives to conduct an audit on all of the websites and applications of the government. Under this initiative by the Indian government, around 90 security auditing organizations have been enlisted by the government for auditing the best practices of information security of the Indian government data.

    CERT-In

    The advancing Indian Computer Emergency Response Team (CERT-In), which is responsible for operating the national agency for handling cybersecurity, has helped in decreasing the rate of cyber-attacks on government networks and servers in India. The implementation of cybersecurity awareness and anti-phishing training across Indian government organizations and agencies has assisted employees working in technological department of government sectors in fighting cybercrimes. Apart from spreading awareness of the hazard caused by phishing attacks to the public, CERT-In has issued advisories and alerts regarding the latest cyber countermeasures and vulnerabilities to counter and tackle them.

    Cyber Surakshit Bharat

    India aims to strengthen the cybersecurity ecosystem in coordination with the government’s vision for making Digital India. The Ministry of Electronics and Information Technology has come up with the Cyber Surakshit Bharat movement. This program is in association with the National e-Governance Division of India. Indian governance system has transformed digitalization rapidly; therefore, the requirement of good governance is important. With such an initiative by the government, there would be an increase in awareness against cybercrime and building the capacity for securing the CISOs and the frontline IT staff across all government organizations in India. Apart from just awareness, the first public-private partnership also includes a series of some workshops to make government employees fight against cybercrimes and help professionals with cyber security health tool kits to take down cyber threats.

    Conclusion

    Cyber-attacks have now become a weapon to launch attacks on different organisations. Mainly they are done to attain secrets of organisations or Governments. Unfortunately, because of this India has become prone to cyber-attack and in 2020, it recorded 1.16 million breaches alone. Some steps have been taken to counter these attacks, however more and more strong cyber security is needed.

    FAQs

    Which countries get cyber attacked the most?

    Top 3 countries that cyber attacked the most are:

    • Japan
    • Australia
    • India

    What do you mean by Cyber Attacks?

    A cyber-attack can be defined as a malicious activity or planned attempt by any organization or an individual to steal or corrupt the information of the system of another organization or individual.

    Which country is the best for cybersecurity?

    Sweden has suffered the lowest rate of malware infection. It is considered as one of the best country with cybersecurity.

  • What Is Cyber Insurance and Why Is It a Must for Your Company?

    With the advent of digitalization, the rise in threats of cyber-attacks comes in. We have reported large figures in cases relating to cyber-attacks both in the corporate sector and among individuals as well.

    Cyber-attacks have played a major role in bringing cyber insurance to the core. Cases of rising cyber fraud are not only limited to companies but also individuals. Therefore, cyber insurance is a considerable option.

    An immense rise in the cyber insurance market has been seen globally. The figures are estimated to reach USD 20 billion by 2025. Indian base for cyber insurance is around Rs. 500-700 crores.

    Several cyber insurance providers cyber insurance to cover individuals and companies as well. A few cybercrimes coverage included in the cyber insurance policy are social media liability, cyberstalking, IT theft loss, cyber extortion, and many others.

    A majority of cases reported globally and in India are related to e-mail based attacks, malware or ransomware, and phishing attacks.

    What is Cyber Insurance?
    Why is Cyber Insurance a Must for Every Company?

    What is Cyber Insurance?

    The term cyber insurance is synonymous with cyber risk insurance and cyber liability insurance coverage. A cyber insurance policy helps an organization to continue to run even in case of a security breach. It acts as a friend in disguise that offers a helping hand in times of crisis.

    Cyber insurance acts as a helping hand to mitigate the exposure of risk by offsetting the costs involved as it consists of various policies of recovery in case of a breach regarding cyber security.

    Why is Cyber Insurance a Must for Every Company?

    The reports of Ponemon Institute’s Cost of a Data Breach says that data breach costs $3.9 million on average. It includes remediation, continuity costs, fees, etc.

    Cyber insurance comes into light as a friend in disguise that assures an organization needs not to bear all these costs alone. Cyber insurance helps to get prepared to respond effectively in case of a data breach.

    The 2019 survey report by Marsh and Microsoft mentions that about 47% of businesses have cyber insurance cover. Apart from this, 89% of businesses are in confidence that their cyber insurance policies cover the costs of any cyber event that might occur. These stats depict an increasing number of organizations buying cyber risk insurance.

    Cyber risk insurance is important for risk mitigation. A single cyber-attack on an unprepared company can put it totally out of business. Therefore, the implementation of a cyber risk management program is a must for all small and big organizations. The program must include at least the following three things:

    • Notices the risks to which an organization might be exposed to
    • Helps a company prevent breaches
    • Helps the company to recover from a possible breach

    Following are a few reasons that make cyber insurance a must-have:

    • Not only the big businesses but also the small companies are targeted by hackers. Small businesses are at a greater risk instead, as they do not have proper financial resources to bounce back after a cyber attack or data breach.
    • Data is a critical business asset that must be protected. The value of data is as important as the device in which it is stored. A cyber policy offers coverage for data restoration in the event of a breach of data.
    • The organization might face harsh penalties in case of loss of credit card data. According to stats, credit card crime is a $7.5 billion industry worldwide and growing. Even the smallest retailers are exposed to this risk.
    • A ransomware attack, a computer virus, or an untrustworthy employee may shut systems down; a cyber insurance policy can cover your losses including the compromise with the data or the device in which it is stored.
    • Cyber insurance also covers costly claims such as defamation, breach of information, copyright infringement, etc.
    • Cyber Insurance policy offered by the companies ensures public trust and a reason to the customers to remain connected and save a large number of future sales resulting from customers that the company might lose to its competitors.
    • To ensure financial safety against any kind of cyber fraud, as any kind of breach ultimately leads to a lot of expense. Insurance companies offer cyber insurance policies that also cover any sort of monetary loss.

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    Conclusion

    Any business venture that stores data online or in any way use technology is at risk of a cyber-attack. The outcomes can be shattering. Stats mention that the average cost to resolve a data breach issue is about $7 million.

    Cyber insurance helps the company recuperate after a data breach. It is an essential option that includes costs of business interruptions, legal fees, revenue loss, public relations expenses, equipment damages, and legal costs. Cyber insurance plays a vital role in shielding the organization in the long run before a breach occurs.

    With Indian businesses getting online, cyber insurance in India is the need of the hour with the proliferating cases of online breaches. Cyber frauds have taken a higher jump during the Covid-19. It has experienced a rise with the increase in digital payments.

    Cybercrime is the world’s fastest-growing crime, cyber insurance is the solution.

    FAQs

    What is cyber insurance?

    Cyber insurance is insurance that covers your liability and protects your company from Internet-based risks.

    What are the benefits of cyber insurance?

    Cyber insurance provides Data breach coverage, Legal support, and protects you from phishing, email spoofing.

    What do cyber insurance policies cover?

    Most cyber insurance covers any data that has been lost, damaged, stolen or corrupted due to the security breach.

  • 10 Ways How you can Secure your Startup against Cyber Risks in 2021

    Startups and small businesses are at serious risk of cybercrime. Ransomware, IoT attacks, DDoS attack and deepfakes are threats to growing companies who lack the professional protection that larger firms may enjoy.

    It’s crucial that startups and small businesses invest in IT security to provide the protection they need to power productivity. If you’re struggling to identify where to start, here are 10 ways to set up cybersecurity for startups.

    Why Startups must get serious about protection
    Invest in Antivirus protection
    Commit 100% to the cloud
    Protect all Passwords
    Create Professional policies
    Restrict Network access
    Safely store sensitive data
    Establish a culture of security
    Have a Recovery backup plan
    Invest in protection
    Work with a IT partner
    FAQ

    Why Startups must get serious about protection

    Almost half (46%) of all UK businesses were the victims of cyber-attacks, the Government found in a 2020 survey. Across the world, 53% of small businesses are targeted by hackers and online criminals, says Cisco – and the threat level is increasing.

    Of those businesses attacked, 33% experienced a cyber breach once a week in 2020, costing almost £1,000 each time to fix the problem. As well as incurring expenses, companies can suffer from data losses and damage to reputation that can be more difficult to claw back.

    While startups may not have established a profile, missing protection makes them easy targets for online criminals. A lack of investment in infrastructure, personal safety, and a robust IT security culture means that startups can be easy pickings for online predators.

    The National Cyber Security Centre has created a set of simple guidelines for startups, but these are far too basic for most businesses.

    At Syntax, we work with businesses of all sizes to safeguard their IT systems and provide IT security solutions that deliver the highest levels of protection.

    Invest in Antivirus protection

    While the Government may have recorded a fall in viruses or other malware (from 33% to 16%), strong antivirus software should still be the first investment you make.

    Online threats have increased by almost 30% during the Coronavirus pandemic, as digital criminals attempt to take advantage of lapses in online defenses.

    Antivirus software acts as a first line in protection, alerting you to threats and safeguarding your systems from identified risks. While it may be tempting to use free antivirus software, avoid it. Investing in a professional antivirus package is the only way to enjoy total peace of mind and protection.

    Installing your antivirus software is just the start; you’ll also need to ensure that everyone in your organisation installs updates as soon as they’re released as new threats emerge every day.

    Think you’re protected using a Mac? Macworld provides a list of all threats, and it’s growing every day. Whatever platform you use, invest in anti-virus software.

    Commit 100% to the cloud

    Storing documents and data in the cloud isn’t just convenient; it can be much safer too. As a business owner, you maintain control and oversight of all information. You’ll have an audit trail, too, enabling you to see who is accessing what data and when. It’s easy to generate audit logs in Microsoft 365, providing total transparency.

    By using cloud services, you can hopefully avoid dangerous practices, such as saving to a local computer, emailing files through a web-based provider, or using external storage devices such as USB sticks.

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    Protect all Passwords

    An incredible 85% of all data breaches were caused by human error, including poor password protection, Verizon found in its 2021 survey. The problem is your people. A Google survey found that 65% of people used the same passwords for multiple accounts. This gives hackers and online criminals easy access to your systems.

    Staff must understand the risks of poor password etiquette, including reusing the same password multiple times. Other simple but common issues include writing passwords down or sharing them with other employees.

    Create Professional policies

    The Federation of Small Business recommends you create a password policy to ensure staff choose (and don’t reuse) passwords, and we agree. But you should go further. Every startup and small business should develop professional policies to safeguard IT systems.

    A strong policy will spell out precisely what you expect of each staff member, including what they shouldn’t access, how to manage data, keep passwords secret and more. An IT policy will also ensure that your organisation adheres to legislation, including GDPR and UK data protection rules.

    Restrict Network access

    Cloud platforms enable you to set tiered access levels, allowing only those who need the information to access it. This may mean that only your accounts team, for example, can access information on invoices and outgoings.

    It’s critical as insider threats – where someone within your organisation intentionally accesses information they should – are on the rise. Research in 2020 found that 60% of all data breaches are caused by insider threats. Don’t give anyone – outside or inside your organisation – a chance.

    Safely store sensitive data

    Data is likely to be an organisation’s greatest asset and its most significant risk. Protecting data isn’t just a legal duty; an information breach can lead to long-lasting damage to your reputation too.

    Cloud storage systems provide extra safety for your data. For example, you can set tiered access, provide password protection and see who has accessed data and when. Secure cloud storage systems are also external to your business and regularly backed up, removing one stress point from your IT security.

    Establish a culture of security

    We’ve identified that your people are often the weakest link in your IT security, but it doesn’t have to be that way. Establishing a positive security culture ensures that all staff – from the boardroom to the backroom – take IT security seriously.

    Each member of staff should understand their role in keeping your startup safe. Installing updates, protecting passwords and identifying potential threats are just some of the ways you can create a culture of IT security.

    It’s also critical that staff have the confidence to immediately raise an alert if something goes wrong (and unfortunately, it will).

    Have a Recovery backup plan

    It’s highly likely that you’ll experience an IT security threat, so we recommend that every startup has a robust disaster recovery plan. Each plan should include details of how you’ll manage your hardware, software and essential systems in a crisis.

    The priority here is to ensure the safety of crucial data and to restore systems as soon as possible so you can continue to work.

    Using cloud-based systems and software can reduce your time offline, restoring productivity – and profitability – as quickly as possible.

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    Invest in protection

    Smaller businesses invest proportionally smaller amounts in IT security than larger firms, stats show. This increases their risk of damaging data breaches and online threats.

    Every startup should ensure that IT security is a priority and invest in it. There’s no one-size-fits-all approach here; the amount you spend depends on your organisation, systems, and the security risks you face.

    Our advice is to regularly review IT security spending and avoid the temptation to cut costs or corners.

    Work with a IT partner

    Managing IT security is a full-time job, but too many startups struggle to balance priorities, compromising their protection. Working with an experienced partner can prove to be a cost-effective way to manage your IT systems.

    Outsourcing support can be cheaper and more effective than in-sourcing the task to an already over-stretched IT team. Experienced providers can deliver 24/7 support and guidance, as well as protecting you from new and emerging threats.

    FAQ

    Do startups need cybersecurity?

    Yes, If you’re a small business or a startup you are vulnerable to hackers and so you should step up your cybersecurity to Keep your startup safe from hackers, data loss and breaches.

    What are the 3 major types of cybersecurity?

    Cloud Security, Network Security, and Application Security are the 3 major types of cyber security.

    Why do small businesses need cybersecurity?

    Small businesses should invest in cybersecurity  to protect their own business, their customers, and their data from growing cybersecurity threats.

  • Why Password manager is Essential for your Business in 2021

    Password Managers are considered to be essential even if it for your personal use or a business. In the recent years with the increase of cyber crimes and various other cyber related activities, it is always wise to choose a password manager for your business or an enterprise. Let’s look at some of the reasons why password management is important for your business.

    Strong passwords
    Unique Passwords
    Remembering passwords
    Password Retrievals
    Browser Password management
    Phishing attacks
    Multi-factor authentication and syncing of devices
    FAQ

    Strong passwords

    Your employees are most likely not to use any strong passwords. Most of them would not like to create new passwords and most likely they would choose to go with a simpler one. As we tend to forget passwords many of us use the password that we have already used across various platforms.

    Nowadays with password-cracking software, it is easy to crack all the passwords and it is said that passwords which were considered strong and safe 5 years back are considered to be easy to crack now. Hence password manager is important for setting up of strong passwords and automation of logins.

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    Unique Passwords

    You will have to invest some of your time to create a unique password and most of them would randomly make a unique password. The carelessness of some employees may lead to the breach of data. Passwords aren’t considered secure unless and until it has 12 characters with a combination of upper, lower case, special characters, and numbers.

    Some of them would take initiative and patience to create a unique password but they will have to ensure that they memorize them. Because of this the people again try to repeat the same passwords across different platforms.

    Password managers have inbuilt algorithms that can generate unique passwords and store them securely which will let you use the platforms without remembering the passwords.

    Remembering passwords

    Most of the companies try to make a secure environment by asking the employees to change passwords after regular intervals. This sounds to be secure, but when put into practical use it is not.

    When the employees are asked for a frequent password change, your employees would find it hard to remember and they would save the passwords for an easy access to it.

    They may note it down in some platform or physically write it down. This is again considered to be risky. Whereas the password managers provide an option to not have to remember the passwords.

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    Password Retrievals

    It is considered by the IT departments that the major task they undertake is retrieving the passwords on a daily basis. The employees may forget their passwords because of frequent changing of passwords or because they tried creating a unique password and couldn’t memorize it.

    The retrieval of passwords would take a lot of time of the help desk and this is not a cost-effective task for a company. Whereas password managers have features where you wouldn’t have to remember or memorize your unique password.

    Browser Password management

    Most of the browsers offer a feature for password management. They will provide you an option to remember your passwords, so that you can easily log in to your frequently used platforms. But this is not a password manager and does not ensure safety. This feature is only for ease of use of the browser and to increase the number of people to use the browser.

    It means that your login credentials and details are easily accessible by any hacker and are left out in the open.

    Cost of data breach in India
    Cost of data breach in India

    Phishing attacks

    Phishing attacks are the most effective ways through which cyber criminals try getting access to your login credentials. Phishing emails or forwarded messages would seem like its from a legitimate source. But that actually is a way to get access to your login credential and will solely capture your passwords.

    Phishing Attack
    Phishing Attack

    It is most likely that a human being gets into a phishing attack than a password manager. Password managers will have a record of trusted websites and if the domain name doesn’t match, they wouldn’t provide the login credentials.

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    Multi-factor authentication and syncing of devices

    You will most probably need to login through various devices such as mobile phones, desktops, tablets, etc. and there are no specific platforms or an application which will easily let you login through devices other than password managers. Password managers will provide an option to sync between various devices of your choice.

    Two-factor authentication provides an extra layer of security to your passwords. It is a feature which is provided by various password managers which uses an extra step to access your login credentials such as answering a question or sending an OTP to your mobile phone. This will add an extra layer of protection to every data stored in your password manager.

    FAQ

    Is it good to have a password manager?

    Many people re-use the same password on multiple websites. Password managers makes it possible and easy to use a different random password for every account.

    Can malware change your password?

    A malware in your computer with the help of the third party could reset your passwords on other websites and gain access to almost any of your online accounts.

    What is the best Password Manager 2020?

    LastPass is considered the best Password Manager, because of its ease of use convenience, security and price.

    Conclusion

    There are a lot more benefits of using a password manager for your business.  It can be one of the effective tools which are required by your business.