B.I.D

Cyber Security – Hacking Still Exists

In this era of digitalization, we share all our information with the online sites blindly whether it is Google, Facebook, Instagram or any shopping website. You must be aware that even the single click of a user on any website is traced and the respective data and information are used against him/her in order to perform the marketing and other business strategies.

In the past, we also have come across news related to hackings, viruses and bugs, website crashes, etc. While your computer is connected to the Internet, the malware a hacker has installed on your PC quietly transmits your personal and financial information without your knowledge or consent. Or, a computer predator may attack the private information you unwittingly revealed. In either case, they will be able to:

  • Hijack your usernames and passwords
  • Steal your money and open credit card and bank accounts in your name
  • Ruin your credit
  • Request new account Personal Identification Numbers (PINs) or additional credit cards
  • Make purchases
  • Add themselves or an alias that they control as an authorized user so it’s easier to use your credit
  • Obtain cash advances
  • Use and abuse your Social Security number
  • Sell your information to other parties who will use it for illicit or illegal purposes.

It has been cited in the news articles of Business Today & Business Standard that 76% of Indian businesses were hit by cyber-attacks in 2018. According to the survey report, in India, most cybercriminals are detected at the server (39 percent) or on the network (35 percent); 8 percent are found on endpoints. The survey also revealed that 97 percent of IT managers admitted that security expertise is one of the greatest issues in India. While 92 percent of Indian IT managers wish they had a stronger team in place to properly detect, investigate and respond to security incidents and 89 percent of IT managers surveyed believe cybersecurity recruitment is a challenge.

Whether you work in the technology sector or not, you may be rightly wondering when the software profession will fix this problem and, finally, start to secure your personal data. It’s an understandable expectation, and fixing it will first require a hard look at the root causes of this rising problem.

It has been found that the visibility is not there. IT professionals are unable to know about the kind of attacks. They don’t know how many modes it has actually traveled and how the attack is damaging, which are the endpoints, where it has actually made damage. All that visibility is not available and it is also not helping them to take right decisions. The main industries that are still facing such cyber-attacks are the financial services, oil and gas and energy sectors along with media and entertainment.

Actual cybersecurity products sales worldwide in 2017 was USD95 billion, with system integration and managed services for cybersecurity being worth about USD35 billion, and annual maintenance and support contracts being worth about USD10 billion. It has been predicted that the growth of a USD4 trillion trilateral to one worth USD7 trillion by 2030. Today, 85 percent of cybersecurity in India is Kaspersky Antivirus, use of which the US government has banned in most of its own sensitive organizations due to the lack of adequate cybersecurity standards in India.

From the very childhood, we are listening to the very known quote “Prevention is better than cure.” What if a company (which might be founded by you) comes with a solution that is not only able to trace back the hacker and the modes it has traveled with the help of advanced technologies like blockchain but is also able to prevent the attacks before happening. Your company might be the one who will not only notify about the attack to the users and clients before happening but also will trace the different modes through which the malware bugs or viruses have been introduced in the systems and capture the hacker.

You can also go through the 60 must-known Cyber-security statistics for 2019 worldwide and challenges and opportunities in India.

Become an Innovation Catalyst with Bots ‘N Brains to solve the problems around us and help India become a better country.

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