Assocham-PwC study reveals 300% surge in cyber crimes
Published: Aug 26, 2016
By TIOLCORP News Service
NEW DELHI, AUG 26, 2016: IN a recent joint study conducted by Assocham-PwC, there is a 300% surge in cybercrime cases in the country registered under the IT Act between 2011 and 2014, according to a study. 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 smart phones India has emerged as one of the primary targets among cyber criminals. The study mentions that with every passing year, cyber attacks continue to escalate in frequency, severity as well as impact. In India, from 2011 to 2014, there has been a surge of approximately 300 per cent in cybercrime cases registered under the Information Technology Act, 2000.
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, disrupt of transportation systems and loss of life, noted the study. The study reveals that in the US alone, there has been an increase of nearly 50 per cent in reported cyber incidents against its critical infrastructure from 2012 to 2015.
The Indian Computer Emergency Response Team 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 Operational systems are increasingly subject to cyber attacks, as many are built around legacy technologies with weaker protocols that are inherently more vulnerable.
t pointed out that continued and regular sharing of cyber security intelligence and insights is essential for improving the resiliency of these systems and processes from emerging cyber risks. The study highlighted that cyber attacks around the world are occurring at a greater frequency and intensity. Not only individuals but also businesses and governments are being targeted. The study highlighted that profile and motivation of cyber attackers are fast changing.
