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Cyber threat: Enemy at the gates. Illustration: Sameer Pawar. No cyber threat, however over- the- top its depiction, seems far- fetched today.

Take the 2. 01. 7 instalment of the movie franchise The Fast and the Furious, in which cars hacked into by an antagonist, who was sitting in a plane 3. New York—by themselves. Far from gimmicky, the high- octane scene, in fact, strikes a chord, reflecting the grave danger that a digitally connected world faces. After all, real life isn’t bereft of such drama either as Indian companies —much like their global peers—have found out. On the rain- soaked morning of July 2. Arun Tiwari, former chairman and managing director of the state- run Union Bank of India (he retired in June this year), found himself in office, not knowing whether the $1. Rs 1,1. 00 crore) just stolen from his bank by hackers would ever be recovered.

The said sum had been debited from one of Union Bank’s foreign accounts and had made its way to multiple other accounts across the world, using SWIFT (Society for Worldwide Interbank Financial Telecommunication), a mechanism employed by global banks to transfer funds electronically. Investigation later revealed that one of Union Bank’s employees had fallen prey to a phishing email, masked as sent from the Reserve Bank of India (RBI), which infected the bank’s network and gave the hackers access to the credentials needed to execute the transaction.

However, Tiwari kept his nerve and initiated swift action, which included hiring Ernst & Young (EY) to investigate the fraud, and ensured that his bank’s loss was limited to a mere $4. Rs 3. 2,0. 00). “Holding my head and coming down heavily on my employees would have led us nowhere,” Tiwari says, recalling the events of a year ago. Instead, he got a floor at the bank’s headquarters in Mumbai’s Nariman Point vacated and used it to centralise the bank’s entire SWIFT operations, which was earlier spread across 3. India, using sanitised machines, to ensure complete control on operations. This was achieved overnight and without causing any disruption to the bank’s customers. The money trail was followed and the illegal transaction was stopped in its tracks.

The importance of timely action in recovering losses arising out of such a breach is evident from the fact that a similar e- heist of $1. Bangladesh Bank in February 2. No, the drama is real. And it is the result of progress. The irony is not lost on anyone, particularly technopreneurs and experts who know just how large the threat is.

Mark Anderson, president of Palo Alto Networks, a $1. Silicon Valley, points out that over the years, the cost of carrying out a successful cyberattack has dropped to almost nothing. He`S Way More Famous Than You Full Movie In English. You can buy a cheap computer and copy a code script made available on the dark web by other criminals,” Anderson told reporters recently.

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Consequently, the number of successful attacks has risen dramatically.” Perpetrators of cyberattacks range from state actors to individual thieves looking for money or data that can be monetised, and even hackers out to merely prove a point. Take for instance Russia, which is alleged to have interfered in the 2. Watch Viva Cuba Online Free HD here.

US presidential elections that brought Donald Trump to power; or North Korea, which was reported to have hacked Sony Pictures Entertainment, miffed with the depiction of its supreme leader Kim Jong- un in a film (The Interview) produced by them. Closer home, increasing online retail, the government’s efforts to create a cashless economy (especially post demonetisation), and the growing number of computer and smartphone users in a country of over 1. India a more connected nation.

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That automatically also makes it more vulnerable to cyber threats. But here’s the good news: According to the 2. Global Cybersecurity Index (GCI) released by the United Nations International Telecommunications Union, India ranks 2. The GCI puts India in the bracket of ‘Maturing’ countries that have “developed complex commitments, and engage in cybersecurity programmes and initiatives,” according to the report. That the country ranks ahead of superpowers like Germany is a positive for its digital fortress, but the strength is relative. The fact remains that many devices in India are afflicted with malware.

Another report by Sophos. Labs, a cybersecurity products and services company, says that India is fifth- most prone to cyberattacks due to malware, after Algeria, Bolivia, Pakistan and China.

In May, organisations across the world, including India, were wary of a ransomware attack christened Wanna. Cry that hit computers belonging to, among others, the Andhra Pradesh police and some state utilities in West Bengal. This was followed by a similar attack called Petya in June, which impacted operations at a terminal at the Jawaharlal Nehru Port Trust in Mumbai, operated by AP Moller Maersk. In a ransomware attack, malicious emails are used to plant malware in computers connected to a network, in a bid to gain control over them. These systems and their contents are locked down (through encryption) by the attackers, who demand money (in the form of bitcoins) to release the decryption key to victims.

According to Kaspersky Lab, a multinational cybersecurity firm, India was the third- largest target of Wanna. Cry with around 5. Watch Across The Line: The Exodus Of Charlie Wright Online. It is easy to see why cybersecurity is no longer the sole purview of a company’s IT team, but part of the board- level agenda. In the India cut of KPMG’s Global CEO Outlook 2. Indian CEOs, 5. 3 percent of the respondents agreed that their organisations weren’t fully prepared for a “cyber event”, and an overwhelming 8.

Cyber security is a concern all over the world and we take it very seriously as well,” Adi Godrej, chairman of the Godrej Group, tells Forbes India. The advantage of ensuring a robust cybersecurity policy is that it keeps cybercriminals at bay from even trying to attack your system, because there is time and effort in doing so involved at their end as well.” Clearly, cybersecurity is no longer a choice. It is a must for every company to ensure business continuity, information confidentiality, integrity and availability in the increasingly digital ecosystem,” says Vimal Kejriwal, CEO and managing director of KEC International, the engineering arm of RPG Enterprises. Kejriwal says KEC is currently executing projects across 3. We are participating in more and more reverse auction as we bid for projects.

We are also leveraging e- procurement in dealing with our suppliers. Maintaining the confidentiality and integrity of information is extremely crucial to maintain competitive advantage,” he says, adding that his company has doubled its budgetary allocation towards cybersecurity measures. Godrej points out that his group has been focussed on having strong cybersecurity policies even before the recent spate of attacks made news. Just like we protect our physical assets like factories, we ensure the security of our digital systems,” says Godrej. Ecommerce enterprises are powerhouses of data, and any chink in the armour can be exploited by a hacker, as Gurugram- based food- tech company Zomato discovered in May this year. Its data for 1. 7 million users, including names, email ids and hashed passwords, had been accessed by an unauthorised outsider and was available for sale at a marketplace on the dark web (a part of the World Wide Web only accessible through a special software that offers anonymity to users). The hacker had stolen the credentials needed to access one of Zomato’s code repositories from a staffer, who had used the same credentials for his personal account on another web hosting platform that was hacked earlier in November 2.

However, maintaining multiple databases (essentially splitting and storing user information across various places instead of one location) helped Zomato minimise the damage. It prevented sensitive data such as users’ financial information from being leaked.

We were lucky we could get in touch with the person (hacker) in good time.