Security News

37% Increase in Cyber Attacks in India During First Quarter of 2020: Report

India has seen a 37% increase in cyber attacks in the first quarter (Q1) of 2020, as compared to the fourth quarter (Q4) of last year, a new report revealed Kaspersky.

The report showed that its products detected and blocked 52,820,874 local cyber threats in India between January to March this year.

“There has been a significant increase in the number of attacks in 2020 Q1 that may continue to rise further in Q2 as well, especially in the current scenario where we notice an increase in cybercriminal activities, especially in the Asia Pacific region,” said Saurabh Sharma, Senior Security Researcher, GReAT Asia Pacific at Kaspersky.

The number of local threats in Q1 2020 in India (52,820,874) shows how frequently users are attacked by malware spread via removable USB drives, CDs and DVDs, and other “offline” methods.

Protection against such attacks not only requires an antivirus solution capable of treating infected objects but also a firewall, anti-rootkit functionality and control over removable devices.
According to the firm, the number of local threats detected in Q4 2019 was 40,700,057.

“Risks like data leakage, connection to unsecured wi-fi networks, phishing attacks, spyware, apps with weak encryption (also known as broken cryptography) are some of the common mobile threats that Android users face,” he added.

Key Findings:

According to analysis identified by Kaspersky Fraud Prevention, last year, 2% of transactions in e-banking and online retail were carried out by fraudsters, and 16% of transactions were suspicious and required further investigation.

The most common malicious activity found was the use of malware or remote access tools. Specific to e-commerce, fraudsters often leveraged tools that automatically perform programmed actions.

Digital financial services and e-commerce simplify people’s lives, allowing them to order goods or manage their finances wherever it is convenient for them.

The ongoing coronavirus lockdown measures in place, the importance of online services has grown even more. With many people heavily relying on these services, the Kaspersky Fraud Prevention report has revealed why it is so important to protect these types of businesses from fraudsters.

Misuse of remote control software is followed by occasions when fraudsters takeover their victim’s account, or incidents when attackers use a legitimate user’s compromised credentials to steal money or loyalty program bonuses. This was used in 34% of detected incidents.

Fraud not only affects the financial sector, but online retail as well. As for the specific schemes in e-commerce, 44% of all cases involved the creation of fake accounts. By signing up for multiple registrations in retail loyalty programs, criminals receive welcome bonus points which they go on to sell at a discount. Fraudsters often use bots or special tools programmed to perform the required actions automatically.

(Image Courtesy: www.cpomagazine.com)

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