350% rise in cybercrime in India in 3 years: Study

Cybercrime in India rose by approximately 350 per cent from 2011 to 2014, as operational systems built around legacy technologies with weaker protocols are more prone to cyberattacks, a joint study by Assocham-PwC said.

The cases were registered under the Information Technology (IT) Act, 2000, from 2011 to 2014.

The Indian Computer Emergency Response Team (CERT-In) has also reported a surge in the number of incidents handled by it, with close to 50,000 security incidents in 2015, noted the study titled ‘Protecting Interconnected Systems In The Cyber Era.’

The study highlighted that operating systems are increasingly subject to cyberattacks, as many are built around legacy technologies with weaker protocols that are inherently more vulnerable. The continued and regular sharing of cybersecurity intelligence and insights is essential to improving the resilience of these systems and processes from emerging cyber risks.

“Cyberattacks around the world are occurring at a greater frequency and intensity. Not only individuals but businesses and governments, too, are being targeted. The profile and motivation of cyber-attackers are fast changing,” said the joint study.

A new breed of cybercriminals has now emerged, whose main aim is not just financial gains but causing disruption and chaos to businesses, in particular, and the nation at large, it added.

The study said attackers can gain control of vital systems such as nuclear plants, railways, transportation or hospitals that can subsequently lead to dire consequences such as power failures, water pollution or floods, disruption of transportation systems and loss of life.

The study revealed that, in the past, the attacks have been mostly initiated from countries like the US, Turkey, China, Brazil, Pakistan, Algeria, Turkey, Europe and the UAE, adding with growing adoption of internet and smartphones, India has emerged as one of the primary targets for cybercriminals.

FIGHTING A HIDDEN ENEMY

• The Indian Computer Emergency Response Team (CERT-In) has also reported a surge in the number of incidents handled by it, with close to 50,000 security incidents in 2015

• The study highlighted that Operational systems are increasingly subject to cyber-attacks, as many are built around legacy technologies with weaker protocols that are inherently more vulnerable

• The continued and regular sharing of cybersecurity intelligence and insights is essential to improving the resiliency of these systems and processes from emerging cyber risks