The symposium outlines roadmap to meet the demand supply gap in Cyber security space in India
Mumbai, 16th September, 2022: As per various reports, India is likely to spend up to 3 billion USD on cyber security in 2022. In 2020 alone, data breaches cost India an average of $2 million per such occurrence. The recent biggest incident in India was reported by Serum Institute of India, of Rs 1 Crore fraud, where cyber fraudsters impersonating Company’s CEO Adar Poonawalla demanded the money from the SII Director Satish Deshpande to be transferred. Other cybercrime cases include data breaches in Air India which resulted in leak of 4.5mn passenger details, Dominos lost 180mn order details, MobiKwik lost 110mn users and Juspay reported 100mn user account breaches. The most number of breaches occur via hacking (45%), errors (22%), social attacks (22%), malware (17%), misuse by authorized users (8%), and physical actions (4%). As per statistics around 3000 cases have been registered which included cases of frauds, obscene email/SMS/MMS cases, online cheating cases, hacking, phishing/man-in-middle attack/spoofing mail, data theft, others.
Mumbai Police statistics from January-June 2022 show 7,726 registered cases of cybercrimes with the majority of the cases related to online frauds. Mumbai recorded the highest number of 2,506 cases in June which includes 1,093 cases of cybercrimes and 802 cases of online fraud. Maharashtra Govt. has cited to constitute a cyber-intelligence unit and hire private agencies to monitor techniques used by scamsters to cheat citizens. The introduction of the CIR (cybercrime Incident Report) system is much needed for handling financial frauds and illegal online payments. The same is being followed by surrounding other metro cities.
Infosec Foundation, a non-profit platform dedicated to cyber security and in creating awareness for the public and creating a road map for Cyber Security, Information Security, and Data Security, today organized ‘Cyber Security Congress’ in Mumbai. The Cyber Security Congress addressed a new normal in cyber trends which is important for organizations to adopt to maintain business continuity, and to avoid competitive exploitation and comply with the highest standards of information security. The Cyber Security Congress aims to bring forth the Technology trends and adoption in new normal times with an agenda to interact and discuss the latest trends in Information Security and share the leaders’ key experiences and learning and discuss on democracy in data governance.
The COVID-19 pandemic has been a shock to our systems and has forced abruptly rethink long-held practices and processes – including in basic areas such as work environment, interactions, and transitioning from remote work. With changing times, it has become quite clear that digital security measures have become fundamental business operations, regardless of where the operations are being conducted. As we approach a “New Normal” in which remote work is becoming more widespread, securing digital infrastructure – no matter where in the world it is – is a habit that is sure to stay with companies for many years to come. With this transitioning into a new normal, it is a key time to reemphasize cyber security.
Eminent personalities in their respective domains like, Mr. Madhukar Pandey, IPS, ADG, Maharashtra Cyber, Mr. Shankar Jadav, Managing Director- BSE Investments Ltd, Head Strategy- BSE, Dr Naresh Kumar Harale, Vice- President and Head- Cyber Security Vertical, ReBIT, Mr. Sushobhan Mukherjee, Chairman, Infosec Foundation, Mr. Sagi Itcher, Consul for Trade and Economic Affairs, Mr. Brijesh Singh, IPS, Inspector of Police Training, Govt. of Maharashtra and Mr. Sanjay Das, Joint Secretary, Govt. of West Bengal, amongst many other notable successful persons graced the occasion with their presence. The Cyber Security Congress observed sessions addressing discussions on technology trends and adoption in new normal times, hacking and defenses against hacking, AI based Cybercrimes & way forward.
Mr. Sushobhan Mukherjee, Chairman, Infosec Foundation, said “An increasing number of cybercrime cases have been reported by Maharashtra City Police. We are aiming to spread awareness on cyber-attacks and incorporate advanced technology to investigate cases to deal with cybercrime complaints and the government has also cited to constitute a cyber-intelligence unit and hire private agencies to monitor techniques of cyber frauds. He concluded by saying “It is a matter of pride to see the cyber security leaders that formed a part of the event. It is a great challenge and a great responsibility too.”
