Cyber crimes in India are increasing in an alarming rate. According to a new study it might reach to 300,000 in 2015, almost double that of last year. This is getting the financial space in great distress. Not just them, it has also affected security establishment and social spaces.
“What is causing even more concern is that the origin of these crimes is widely based abroad in countries including China, Pakistan, Bangladesh and Algeria among others”
D.S Rawat, secretary general, ASSOCHAM said while releasing the joint ASSOCHAM-Mahindra SSG study “Cyber and Network Security Framework”.
Number of cyber crimes in India at present is approximately 149,254 and it is said that it will increase to about 300,000 by 2015. The crimes are growing at a very high rate and the compounded annual growth rate (CAGR) of about 107%. According to the study, there are 12,456 cases of cyber crime registered in India.
During the years 2011, 2012, 2013 and 2014, the total number of cyber crimes registered were 13,301, 22,060, 71,780 and 62,189 (till May) respectively.
Phishing of online bank accounts, cloning ATM/Debit cards are some of the veracious and common attacks that took place.
The report said:
Phishing attacks of online banking accounts or cloning of ATM/debit cards are common occurrences. The increasing use of mobile/smartphones/tablets for online banking/financial transactions has also increased the vulnerabilities to a great extent. The maximum offenders came from the 18-30 age group.
These attacks have been observed to be originating from the cyber space of a number of countries including the US, Europe, Brazil, Turkey, China, Pakistan, Bangladesh, Algeria and the UAE
“Growing internet penetration and rising popularity of online banking have made India a favourite among the cybercriminals, who target online financial transactions using malware and India ranks third after Japan and US in the tally of countries most affected by online banking malware during the year of 2014,” it said.
The study specifically mentiones that Andhra Pradesh, Karnataka and Maharashtra – the top three states that contribute more than 70% to indias revenue are the top three states as well when it comes to cyber crimes registered under the new IT Act in India.
Source : Firstpost