According to a report by Data Security Council of India (DSCI), released in January, 2022, India’s cybersecurity industry doubled in size amidst the pandemic. The report shows that the Indian cybersecurity services and product business generated $9.85 billion in sales in 2021, with a CAGR of nearly 40% over the previous two years.
According to a research by cybersecurity firm Surfshark, India is placed third in the world in terms of data breaches, with the security of 86.63 million Indian customers violated by the month of November in 2021. This is a 351.6% increase in affected accounts when compared to the previous year.
Anupam Joshi, Senior Manager cybersecurity services Skillmine Technology Consulting, takes note of the massive increase in cyber security incidents post the pandemic outbreak. “A major reason for the increase in the number of cyberattacks is that we are careless. Everything comes for a price. There is nothing like ‘free’ internet. In some way or the other, you are paying a price, if not in financial terms. In the case of ‘free’ internet, it’s your personal data that you are paying as a price.”
Let’s take a look at the actual causes that lead to cyber security incidents
Lack of security assistance
Very few people are aware of the most basic measures that can be taken to improve cyber security. Take the case of passwords. It’s common knowledge that the more secure your password is, the safer your account will be. There is an urgent need to change password habits and create stronger passwords. Considering questions like ‘how long it would take to break the password’ or ‘if it’s ever been used in a known data breach’ can greatly increase the security of passwords.
When hackers find a weak spot, they immediately take advantage of it. That is why system flaws can be extremely hazardous. In May 2021, India’s national airline, Air India’s data servers were hacked in a cyberattack, compromising the sensitive data of 4.5 million customers around the world. Passport information, ticket information, and credit card credentials were among the information exposed.
Minimizing the threat of such attacks necessitates a proactive and reactive strategy. It’s critical to keep all software up-to-date in addition to having the correct security software and network settings in place. This entails applying software updates and patches as soon as they become available, as they may address security flaws.
Cybercriminals tactically encourage businesses to overlook the dangers of cyberattacks. The more the organizations undervalue them, the easier it becomes for them to hack their systems. Many times, unaware individuals conclude that a cyberattack doesn’t exist as it’s almost impossible to evaluate its danger. However, the threat of a cyberattack is extremely real. It’s essential for businesses and individuals alike to safeguard themselves online to reverse this trend.
“There is no one method to tackle cyberattacks. With attackers devising innovative methods to break into systems, it’s imperative that businesses, as well as individuals, remain more cautious. Awareness about cyber threats would be the first step in this direction. A more focused approach towards cyber security is the need of the hour,’ opines Anupam Joshi.