Cyber Security

Amid rising cases of cyber frauds, scamming, the  telecommunications company has warned its customers about the technique that fraudsters use to fool innocent users. Earlier in 2021, CEO's of Bharti Airtel and Vodafone had also issued a similar warning against cyber frauds to their customers. In a letter to its customers, Reliance Jio has mentioned following 6 things that they need to be careful about.

According to the Indian Computer Emergency Response Team (CERT-In), around 12.1 lakh cybersecurity incidents were observed till October 2021 in India. Microsoft analyzes over 8.3 trillion signals each day for potential malicious activity in email, desktops, laptops, and cloud applications that people log into for work and personal life. Here are five cybersecurity paradigm shifts shared by Microsoft Security for 2022:

Cryptocurrency will continue to fuel cybercrimes such as ransomware and malicious cryptomining, and the trend will continue until global cryptocurrencies are better regulated, according to researchers from global cyber security firm Sophos. Over the coming year, the ransomware landscape will become both more modular and uniform, with attack "specialists" offering different elements of an attack "as-a-service" and providing playbooks with tools and techniques that enable different adversary groups to implement very similar attacks.

Even as business leaders are aware of the need to secure the enterprise against new and evolving threats, responsibility for security mostly lies with IT leadership, says global market research firm Gartner. Gartner found that in 85 per cent of organisations, the CIO, CISO or their equivalent was the top person held accountable for cybersecurity and just 10 per cent of organisations held non-IT senior managers accountable.

Participating in a session on 'Cyber Security and Related Research Applications' at the 'Bengaluru Tech Summit 2021', on its second day, he mentioned that the Government of Taiwan, like that of India, has started various initiatives to revive the economy post-Covid, for which developments in science and technology are essential.

"The main goal of SharkBot is to initiate money transfers from the compromised devices via Automatic Transfer Systems (ATS) technique bypassing multi-factor authentication mechanisms," the researchers from cyber security firm Cleafy said in a statement.

According to McAfee Enterprise and FireEye's report titled 'Cybercrime in a Pandemic World: The Impact of Covid-19', the top three most threatening cyber risks that were detected are malware attacks (47 per cent), data breaches (43 per cent), ransomware and cloud jacking (33 per cent each), over 30 per cent of the IT professionals also experienced vulnerabilities in their 'Internet of Things' devices.

More than half (55 per cent) of large companies globally are not effectively stopping cyber-attacks, finding and fixing breaches quickly, or reducing the impact of breaches, according to research from global professional services company Accenture. "Our analysis reveals that organisations too often focus solely on business outcomes at the expense of cybersecurity, creating greater risk. While getting the balance right isn't easy, those who have a clear view of the threat landscape and a strong alignment on business priorities and outcomes achieve greater levels of cyber resilience," Kelly Bissell, who leads Accenture Security globally, said.

Jagadeesh Chandraiah, a senior threat researcher at Sophos said that the attackers tend to post convincing fake profiles on popular dating apps as the first step. That is how they come in contact with the targets. Sophos uncovered a Bitcoin wallet controlled by the attackers that contain nearly $1.4 million in cryptocurrency.

"It can be tempting for organisations to see phishing attacks as a relatively low-level threat, but that underestimates their power. Phishing is often the first step in a complex, multi-stage attack. According to Sophos Rapid Response, attackers frequently use phishing emails to trick users into installing malware or sharing credentials that provide access to the corporate network," Sophos' Principal Research Scientist.