Most Banking, Government Institutions and Infra projects on Cybercrime Target

New Delhi, August 19, 2019, Monday

Banking, finance, governmental organization and important infrastructure projects remain on the target of cyber crime in India from 2018 to 2019. This information is provided by the tech company. The report says 26 percent of cyber attacks occurred in which more than $ 5 million was lost.

According to the Directors of India and SAARC, the hackers are constantly active and thoughtfully set their target. He said that 20.1 per cent of the total attacks are banking, finance-linked institutions. The second is a government organization. Of the total cyber attacks from 2018 to 2019, 19.6 percent have been carried out at government institutions. 15.1% of attacks are on infrastructure. Cyber ​​criminals are now more targeted than defense, IT, telecom and healthcare.

The defense organizations accounted for 15.1 per cent of the total cyber attacks in the last financial year. The cyber criminal now uses a number of mechanisms to attack. Retail, Hospitality, Entertainment, Ecommerce. In addition, ransomware is used to target public sector, transportation, banking finance.

According to a benchmark similar study, 21 percent of the organization that received cyber attacks said that the attack caused $ 40 to $ 99 million in damage. While 5 percent of the companies lost $ 1 million to it.

However, it is also not the case that a cyber-attack only causes revenue loss. Consumers and other expenses are also included. Some organizations suffer relatively little damage. The loss amount is $ 1 million or less in 27 percent of cases. In some cases the loss figure is low but the total loss is large.