Sun. Sep 22nd, 2019

Banking, Government Institutions and Infrastructure Projects Targeted By Most Cyber Criminals in 2018-19: Cisco

Banking-finance, government institutions and important infrastructure projects were the most targeted cyber criminals in India in 2018-19. This information is revealed by the latest report of the tech company Cisco. The report also said that 26% of cyber-attacks were attacks that resulted in a loss of $ 5 million (about Rs 35 crore) or more in every case.

Visak Raman, Cisco’s India and SAARC Director (Security Business), said, “Hackers are constantly active and they set their targets very thoughtfully. We have found that 20.1% of the total attacks occurred on banking-finance related institutions. The second number is that of government institutions. 19.6% of the total cyber-attacks in 2018-19 were done on government institutions. Significant infrastructure ranks third with 15.1% attacks. ‘He said that cyber criminals are now targeting defense, IT, telecom and healthcare even more than before. Defense institutions accounted for 15.1% of the total cyber-attacks in the last financial year. Cybercriminals now use multiple mechanisms to attack. Point of sale attacks are mostly done to target retail, hospitality, entertainment, e-commerce. In addition, ransomware is used to target public sector units, transportation, and banking-finance.

Raman cited an Asia-Pacific Security Capability Benchmark Study done by Cisco, saying that 21% of the institutions that carried out cyber-attacks reported that they received about 40 to 9.9 million dollars (about 35 crore to 70 crore rupees) from the attack. ) Has been lost. At the same time, 5% of the institutions have lost more than $ 10 million (about 70 million rupees) from these attacks. It is not that only cyber-attacks have caused loss of revenue. Customers and other expenses are also included in this. Some institutions have also suffered relatively small losses. In 27% of the cases, the amount of loss has been less than 1 lakh dollars (about 70 lakh rupees) or less. In some cases the amount may be small but, overall, the figure becomes quite large. To avoid these, companies are trying to identify potential threats in advance.