The rise of the cyber-espionage era – This is just the beginning

Since the inception of cybersecurity as merely being a terminology used as an optional asset has become the epicenter of the digital era. There’s almost no industry today which doesn’t employ digitization as a part of its function. It has been reported that a lot of organizations have been affected by a variety of cyber-attacks like ransomware attacks and zero day attacks. In the recent times, since the CoVID-era, India has most certainly witnessed a sharp increase in the attack landscape. Sophos, an IT company based off Britain has reported that a staggering 52% of the Indian organizations have been affected by cyber-attacks. The data breaches that have resulted in this statistic is as old as 12 months. As per Sophos, three of the major categories of attacks that have resulted in this high number of attacks are AI/ML driven attacks, malware and nation-state attacks and will continue to pose as threats for the next couple of years.

Recent alleged cyber attacks on Mobikwik and ACER have set a question mark on the information security in India. Additionally, they remind us that these cyber-attacks not only bring about monetary impact yet additionally compromise information security, placing the economy and lives of numerous in harm’s way. In 2020, India saw most noteworthy number of digital attacks after Japan in the Asia-Pacific region, according to a report by IBM X-Force Intelligence Index. The report additionally proposed that India represented 7% of the all-out attacks in Asia. A few threats and risks including information breach, phishing assaults, ransomware are a portion of the regular digital dangers tormenting Indians every day. In spite of being the biggest base of web customers, India keeps on leftover defenceless against a few public and worldwide digital attacks. [Reference]

Source: Reference

Among the 52% of affected Indian organizations, more than 70% of them said that the attack fell in the serious or intense classification and about 65% of them said that it took longer than seven days to mitigate the attack. This is notwithstanding 66% of the over viewed organizations universally expressing that they have proactive ability against cyber-attacks, the biggest level of any country in Sophos’ research. While the drive for digitization has been at the forefront of government initiatives over the last 7 years, cybersecurity is an area which is still nascent in terms of development in India. While attacks are expanding in recurrence and seriousness, cybersecurity financial plans remained to a great extent unaltered as a level of income somewhere in the range of 2019 and 2021. Simultaneously, India detailed the most noteworthy level of organizations that have an independent security spending plan. Moreover, they expect a rise in the median percentage of technology budgets spent on cybersecurity from 9 percent today to 10 percent in the next 24 months.

The Indian digital space isn’t driven by severe guideline when contrasted with other nations like USA, Europe and Canada. It turns out to be comparatively a simpler undertaking for attackers to abuse security provisos against uncovered organization devices. India’s digital impression is tremendous, no doubt. This adds to the likelihood of getting hacked as well. What’s more, with regards to phishing attacks, digital mindfulness and digital cleanliness are imperative in keeping a solid guarded stance against assaults of this sort. Eventually, security is about right sizing the threat landscape. On the off chance that the threat expands, financial plans ought to likewise increment, yet in this environment of vulnerability, we’ve seen organizations adopt a moderate strategy to security spending, which is affecting their capacity to remain in front of cyber criminals.

Article by Kaushik Sundararajan

I am a security professional specializing in network security. With vivid experience in different industries, I am looking to explore the current cyberspace and discuss the ideology of certain ideas from a different perspective.

Published by The Art of Cyber-Space

I am a security professional specializing in network security. With vivid experience in different industries, I am looking to explore the current cyberspace and discuss the ideology of certain ideas from a different perspective.

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