Give local push to cyber security solutions: IT firm executive

As cyber security threats become more frequent and sophisticated, representatives of Indian IT security firms have asked Centre to encourage use of indigenously developed solutions and services to cut down on possible security lapses in foreign products and softwares.
China has already stopped sourcing products and softwares from foreign anti-virus companies, citing security reasons.
According to a PricewaterhouseCoopers (PWC) report, the average estimated loss due to cyber security incidents globally stood at USD 2.7 million, 34 per cent more than in 2013. In India, it rose to USD 1.2 million, almost 20 per cent higher than the previous year.
The report states that India's cyber security market size will jump to USD 1 billion in 2015 (from an estimated USD 500 million last year). In India, consulting, implementation, support and managed security services comprise 55 per cent of the market.

"Most of the virus attacks seem to be originating from abroad. Made in India solutions should thus be applied to Internet security solutions that are critical and crucial," Sanjay Katkar, CTO, Quick Heal Technologies, an IT security solutions provider, told reporters here today.
Research has indicated that cyber attackers extorted approximately USD 76,522 (Rs 50 lakh) between February and April 2015, from around 163 victims by targeting over 40 video game-related files belonging to games such as RPG Maker, Call of Duty, Dragon Age, StarCraft, MineCraft, World of Warcraft, World of Tanks and Steam, he said.

Katkar said Quick Heal has identified TeslaCrypt - a new crypto ransomware that targets Windows users and encrypts video game related files.

Ransomware is a sophisticated malicious programme that takes control of the infected computer or its data, and demands money (ransom) from its victim, he said.
"Quick Heal successfully detected and blocked stealing of sensitive documents from the servers of a government-owned defence research and development institution last year. This attack was carried out through a genuine looking email with an infected attachment," Katkar said.