As per the IBM analysis, the attackers benefitted from the socio-economic challenges brought about by Covid-19 and targeted businesses that were at the forefront of the Covid response such as hospitals, medical and pharmaceutical manufacturers, as well as energy firms powering the supply chain. He said that there are only a few Indian companies that are making some of the cybersecurity products and there is a big vacuum in the sector.
Use confidential computing for a higher level of isolation for secure enclaves of data. It encrypts data during processing, whereas earlier, data had to be decrypted just before being processed, leaving it potentially vulnerable. In India, ransomware (sending suspicious links via emails/messages) to block access to one’s personal files/data) was the most rampant cybercrime accounting for 40% of all attacks.
The organizations need to strengthen their cloud environments with a zero-trust approach to their security strategy and leverage artificial intelligence (AI) to monitor, detect and contextualize dynamic behaviors and movements across hybrid cloud environments, to verify the legitimacy (or lack of) of a threat and automate a response.
Cybercrimes in India caused Rs 1.25 lakh crore loss and cyber threats will continue to increase as the country starts developing smart cities and rolling out 5G network, among other initiatives that include the operating system, its processors, memory chips, communication interfaces, Bluetooth as well as wi-fi, NFC
Besides the app that people download from the authorized store and third-party source, he said that most of the bundled apps or the pre-installed apps have been found sending out data. A new cybersecurity strategy will be presented to the nation as dependence on cyberspace will increase multi-fold in the coming years to ensure a safe, secure, trusted, resilient and vibrant cyberspace for India.