The biggest story of 2016 is undoubtedly the alarming rise of cyber crime. A look at global IT industries explains that we’re facing a lack of efficient professionals. According to the Cyber Security Ventures ‘Cyber Security Jobs Report’, there were 1 million cyber security job openings in 2016. The number is expected to grow to 1.5 million by 2019.
Against the backdrop, the scenario of India’s cyber security industry is no exception. A quick glance at one of the most notable security breaches in the country shows:
1) Cyber criminals breached the country’s largest government site – the Indian Railways Catering and Tourism Corporation (IRCTC) website, stealing around 10 million records from the server of the e-ticketing portal.
2) A cyber criminal by the name ‘Faisal’ allegedly breached the website of Canara Bank, defacing it by inserting a malicious page and blocking some of its payment services.
3) Fraudsters broke into the email account of Binny Bansal, CEO of Flipkart, sending two emails to the Chief Financial Officer (CFO) demanding a sum of $80,000.
Further look at similar incidents show that majority of these attacks happened in the e-commerce and banking sectors. The reason for this is found to be a high value of personally identifiable information )PII) in these industries.
According to ‘M-Trends 2016, Asia-Pacific Edition’ by Mandiant Consulting, Indian organizations are more susceptible to data breaches. Poor investments in high-end security solutions are to blame, as experts say. This must sound caution to smaller and bigger organizations both.
In the wake of this, the Indian government has started to invest money in recruiting cyber security experts. Partnerships with top international security firms have also been registered. The recent Memorandum of Understanding (MoU) between the national cyber security agencies of India and the U.K. is a step in the direction. The exchange of technical information on cyber attacks, security incidents and solutions will benefit both countries in fighting cyber crime together.
Source: infoconglobalTags: solution & services
Categorised in: infoconglobal
This post was written by Prime Research Team