‘Cybercrime’ is the rising thunderstorm

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The ascending or descending of economies and the growing and falling demands in the markets are two rational factors for the surge and plunge of tech companies, but when there is an insensible reason for the plunge of a firm, that’s never acceptable. The IT & tech majors are nowadays troubled with rising illicit loss caused to them by cyber criminals. cybercrimes are continuously rising and deepening the hole for the whole industry that if not barricaded yet, it will lead to complete breakdown.

According to recent report released by National Crime Records Bureau – NCRB, the cybercrimes registered within IT act grew 50% in India in between 2012 and 2013. The maximum of offenders are in from the age group of 18 to 30 years. The Indian states with maximum of cybercrimes reported are Uttar Pradesh with 682, Andhra Pradesh with 651 and Maharashtra with 907.The maximum number of arrests for cybercrimes under IT Act held in Maharashtra with 426 in numbers, Andhra Pradesh with 296 in numbers and Uttar Pradesh with 283 in numbers. The Indian states with most dramatic growth in cybercrimes under IT Act combines, Uttarakhand with 475% from 4 to 23 cases and Assam with 450% from 28 cases to 154. Besides, the Andaman & Nicobar Islands recorded an increase of 800% from 2 to 18 cases.

According to report, the maximum numbers of cybercrimes in 2013 were targeted at hacking computers. The transmission of obscene content or publication in electronic form came at distant second in category. There were total 2,516 registered cases targeted at hacking PCs in 2013, among which 1,011 criminals were arrested. The total numbers for obscene content transmission were 1,203, among which 737 criminals were arrested. This trend indicates that the cybercrime is maturing in the country, said Cyberlawyer Payan Duggal. “Hacking is no more aimed at attaining technological superiority, but for the monetary gains,” said Duggal.

According to NCRB data, the registered cybercrimes under IT Act has grown straight by 51.5% from 2012 to 2013. Plus, the crimes registered under Indian Penal Code grew by 122.5% in the same period. Together, there is an increase of 63.73%. Last year, IPC had 23.5% of registered cybercrimes and IT Act had 76.5%.

India is at the second position in the list of countries with maximum cyber attacks on mobile devices. According to the reports of Kaspersky, most of attempts had been made for phishing and stealing banking details. India combines 7.9% of attacks at the second position followed by Vietnam with 3.96%, Ukraine with 3.84% and UK with 3.42%. Rest of top ten seats are tagged to Germany with 3.2%, Kazakhstan with 2.88%, US with 2.13%, Malaysia with 2.12% and Iran with 2.01%.

In the year 2013, about 100,000 malicious programs were detected for mobile devices, which were more than the double of previous year’s figures 40,059, according to Kaspersky. Kaspersky also notified that most of that is, about 98.1% of attacks were targeted to Android devices in 2013. There were about 4 million malicious apps used by cyber criminals in their targets to Android devices. “The majority of mobile malware aimed at users’ money in 2013. The number of mobile malware modifications which were focused to phishing, theft of banking card information and money theft increased by a factor of almost 20,” it added. Kaspersky blocked about 2,500 such attempts.

In India, there are more than two-third of cyber attacks targeted on large enterprises and these are generally those criminals who are willing to wait longer for achieving huge rewards, according to security software maker, Symantec. There is an acknowledgeable shift in the behaviour of cyber criminals, as now they plot for months before stealing huge heists rather than swiftly hitting on smaller rewards, said Symantec India’s technology sales director, Tarun Kaura. “They are focusing on huge firms, with more than 69% of targeted attacks in the country processed on them,” said Kaura.

In the globe, the targeted attacks were 91% in the year 2013 and remained for almost three times longer than the year 2012. According to Internet Security Threat Report by Symantec, there was about 62% rise in the data breaches globally, from the last year and that resulted in revelations of more than 552 million identities. In the year 2013, each of the eight top data breaches concluded into the loss of tens of millions of data records. Whereas, in 2012, there was only a single data breach that marked the threshold.

“A single mega breach can cost up to 50 smaller attacks. As the standard of sophistication continues to rise among attackers, the surprise was about their extended patience that makes them wait for striking until a huge and better reward is available,” he said. The scope and size of breaches is exploding, making the reputation and trust of businesses stand at a risk and increasingly compromising with the personal and critical information of consumers like card numbers, account numbers and password details.

According to recent reports, cybercrimes in India have cost about Rs 24,630 crore that is $4 billion in 2013. This estimate has been concluded by Delhi High Court commission. “Internet frauds in India have alone cost $4 billion that is about Rs 24,630 croroe in 2013, as now the cyber criminals are incorporating more sophisticated ways such as ransomware and spear phishing,” said court in the report.

The figures and facts included in the report submitted by Surinder S Rathi, who is additional district judge and OSD to Delhi Legal Service Authority – DLSA. This is done with the pursuance of court about a comprehensive study upon various such issues combining the cost emerged in processing the criminal justice system. The bench of justices comprising, J R Midha and Gita Mittal, is yet to release the quantum of sentence to three convicts combining Vikas Yadav in 2002 Nitish Katara murder case. The bench has asked DLSA to compute the cost emerge in this trial as well, along with counting the compensation paying capacity of the convicts. However, the report includes no further details about cybercrimes stalking in India.

Now, India has risen concerned about the strongly representative and democratic nature of the present system of internet governance that combines the management of critical internet resources and that has raised the importance of cyber jurisprudence for ensuring cyberspace security. The India’s joint secretary of Ministry of External Affairs and Indian representative, Vinay Kwatra notified about the Future of Internet Governance at Global Multi-stakeholder Meeting held on April 23-24.

The proposal of decentralising internet believes in its significance because of exposures of mass inspection by Edward Snowden in wikileaks in the recent months. Plus, India has been criticized for the present structure of internet governance system and is demanded to build it more broaden and stronger with multi stakeholder as the backdrop of Snowden revelations.

At the meet, the Indian communication minister, Kapil Sibal had showcased the concept of Equinet at the Internet Governance Forum in Baku, Azerbaijan, in 2012. India feels that the country’s internet governance should be transparent, multilateral, democratic and representative, with the relevant and respective participation of governments, civil society, private sector and international organizations.

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