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India is the new breeding ground for cyber attacks: Report

According to the Symantec Internet Security Threat Report 2017, India ranks fifth globally in ransomware attacks.

Cybercriminals have become clever. They are always on the prowl to launch an attack on enterprises. Infact, every year, the threats posed by cybercriminals develop into hazardous forms and security organizations struggle to keep up.
The severity and complexity of cyber threats continue to propel at a break neck speed. That said, Symantec has highlighted the threat landscape in 2016, where multiple facets such as ransomware, email attacks, attackers’ tactics and behaviors have been examined.
According to Tarun Kaura, director–Solution Product Management for Asia Pacific and Japan, Symantec, cybercriminals have caused unprecedented levels of disruption by focusing their exploits on relatively simple IT tools and cloud services.

“The cybercriminals understand the defense mechanism of enterprises. For instance, earlier the malware was spread through .exe files, but now it is through word documents. Once the cyberminnals have access to credentials, they can compromise computing assets,” says Tarun Kaura.

 
India: A haven for cybercriminals
India seems to be a lucrative place to launch attacks. India stands second with 5.11 percent of overall attacks in the APJ region.
“Digitization in India is one of the reasons for an increase in cyberattacks,” says Kaura.
According to the report, in 2016, the number of attacks through bots more than tripled. In 2015, the attacks were 1.3 percent, but reached 10.4 percent in 2016. Among all the threats, the highest amount was through bots.
Ransomware is another hurdle that has emerged as a global problem and a lucrative business for criminals. Globally, India ranks fifth in ransomware attacks. Overall, there has been a 36 percent increase in ransomware attacks worldwide.
To mitigate threats, Kaura says that businesses should use advanced threat intelligence solutions to help one find indicators of compromise and respond faster to incidents. 
So what should be done next to mitigate the attacks? “Employees should be educated on the dangers posed by spear-phishing emails and other malicious email attacks, including where to internally report such attempts,” says Kaura.  
At the same time, he adds that organizations should observe the networks for abnormal and suspicious behavior, and correlate it with threat intelligence from experts.
Businesses targeted in India in 2016
The top industries impacted by malware were wholesale trade and mining. In wholesale trade, one in 84 industries were infected with malware and in mining, one in 85 industries were impacted. The industries affected by spam were mining (74 percent), wholesale trade (61.7 percent), finance, insurance, and real estate (59.5 percent).  
Dark clouds
According to reports, cloud security continues to be a pressing concern for CIOs. Most of them think that they use 40 apps, but in reality the number touches 1000.  A huge difference can lead to dearth of policies for how employees access cloud services. This makes cloud apps riskier. These cracks found in the cloud are taking shape.  Also, the report states that, until and unless CIOs place a good grip on cloud, they will see threats enter their environment.