Increasing wave of cyber-attacks

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India’s growing economy and digital push have caught the attention of hackers and an increasing wave of cyber-attacks could soon badly impact the country, experts from Russian cyber security firm Kaspersky Lab have warned.

India and other South Asian countries are now on the radar of cyber attackers, say experts, adding that the government and corporates need to procure state-of-the-art, New Age security solutions to thwart their plans.

The impact of recent global cyber-attacks were clearly visible in India as ‘WannaCrypt’ that affected 150 countries globally and the recent ‘Petya’ malware attack hit computers in the country.

“India’s growing economy and digitalisation are really a big concern as cyber attackers have now begun focusing on developing countries with big populations and average incomes,” says Eugene Kaspersky, chairman and chief executive of Kaspersky Lab.

According to Vitaly Kamluk, director of Global Research and Analysis Team for APAC at Kaspersky Labs, there was no cyber security threat till 2010 and India was quite safe till then.

But now, India and other “developing countries are most vulnerable, especially the financial sector. We perceive that banks are most vulnerable in India”, says  Kamluk.

“Countries like India are developing very fast which opens doors for more cyber-attacks,” says Stephan Neumeier, managing director of Kaspersky Lab Asia Pacific.