The spread of the COVID-19 infection is coming to nothing (or possibly we trust so). In any case, the effect that this infection delivered in general world, and especially on organizations, will be felt for an exceptionally lengthy timespan. On the off chance that we talk about cybersecurity, numerous parts of this effect are as yet not investigated and comprehended. During the pandemic, cybercriminals dispatched truly excited movement.
The Covid-19 pandemic has radically changed the manner in which the world works. In addition to place an unparalleled pressure on medical care frameworks over the globe and acquainting significant limitations with our day to day lives. Possibly, the cybersecurity industry has never had more significant task to carry out than guarding strategic associations and offices from digital assaults during the COVID-19 pandemic.
A successful cyberattack can make significant harm to your business. It can affect your bottom line as well as your business’ standing and customer trust. The effect of a security breach can be extensively separated into three classes: financial, reputational and legal.
What caused Cyberattacks during Covid-19 pandemic?
With India carving a niche for itself in the IT sector, dependency on innovation is likewise expanding. In any case, there are two things that set India alongside the big players in the league, similar to the United States and China, and that is design and density. With Indians utilizing the internet for all their needs, lengthen from shopping to banking to storing data, cybercrime has additionally expanded in relation to use.
1) Lack of regularity in devices used for internet access
With fluctuating income groups in India, not every person can bear the cost of high range phones. In the US, Apple has over 44% market share of the overall industry. Nonetheless, in India the iPhones with their higher security standards are utilized by under 1% of versatile clients. The broaden gap between the security offered by the very good quality iPhone and cheaper mobiles make it practically incomprehensible for legal and technical standards to be set for data protection by the regulators.
2) Lack of safeguarding tools
Due to the changes brought by Covid-19, the IT infrastructures have to rebuild themselves and the main motive of the organizations is the uninterrupted business and organizational processes, while security concerns are not on the highest priority. Criminals usually use well-known tactics like Phishing, Malware attacks etc. there is nothing new in it but in this few days the use of this tactics has been increased rapidly. The attacks are been done through mails where we want to know about the important news and the mails with important news cannot be ignored and it is clear that these messages are created by the criminal attacks.
3) Late detection of cyber-attacks
A lot of companies have the information department which takes care of the data and prevents from any kind of cyberattacks on hardware and software. Due this pandemic situation the employees where working from home due to which the cyber criminals launched the attacks more than before. According, to the experts companies have to focus more on securing the company information from malware attacks and this can be done by constant monitoring of information security, in-depth analysis of the traffics and inspection of the network events.
Now, due to this pandemic situation many of the sectors have being suffering because of the cyberattacks happening during this pandemic. The sectors which have been affected by the pandemic are majorly health care sector, Banking sector, Government websites, private sector and E-commerce sector.
What are the types of cyberattacks?
Cyberattacks mainly falls under 2 categories: those who attack the organization from outside and one that affects from inside of the organization. Let us know more about it.
1) Insiders Attack
Anyone who has remote access to the information of the organization can open up to the risk. For example:
- Trusted employees misplacing the data
- Employees carelessly remiss the policies and strategies
- Ex- employees intent to harm the business by misusing the data
- Malicious use of the critical data and information by the employees.
Business clients, co-workers, suppliers or the contractors who have access to the business critical data can also prevent risk to the organization.
2) Outsiders Attack
External threats can come from any sources including:
- Planned cyber criminals or criminal groups
- Professional hackers whether malevolent or not
- Amateur hackers also known as ‘script kiddies’
To prevent from such cyber attackers the organizations should secure their data and critical company information and also should keenly monitor the motivation of the attackers so that proper actions can be taken if such acts happen.
What can be the impact of cyberattacks on your business?
The impact of the cyberattacks on your business can be very dangerous and can lead to various effects of it. It can affect your bottom line, customers trust and organizational standing. This impacts are broadly classified into 3 categories which are: Financial, Reputation and Legal.
Cyberattacks usually affect the financial support of the organization where there is theft of money, critical financial information, disruption of trading and also loss of contracts.
Trust is an essential key when it comes to building of customer base. Loss of reputation would be loss of customers, sales and profits. Cyberattacks can harm your business reputation and erode the customer trust from the organization.
Data protection and privacy laws requires you to manage the data securely and if in any case the data is being misused and replaced and there is no appropriate measure the organization can face legal procedures, fines and regulatory sanctions.
Statistics of the cyberattacks and the local threats that have taken place in the pandemic situation:
According to various reports, India has seen a 37 per cent increase in cyberattacks in the first quarter (Q1) of 2020, as compared to the fourth quarter (Q4) of last year. The number of local threats in Q1 2020 in India (52,820,874) shows how frequently users are attacked by malware spread via removable USB drives, CDs and DVDs, and other “offline” methods. According to the firm, the number of local threats detected in Q4 2019 was 40,700,057.
India also ranks 11th worldwide in the number of attacks caused by servers that were hosted in the country, which accounts of 2,299,682 incidents in Q1 2020 as compared to 854,782 incidents detected in Q4 2019.
How to deal with cyberattacks and save your organization
Even if the organizations are not able to being an outsider or hire third party for evaluation of their cybersecurity, organizations can do the following to prevent from cyberattacks:
- Train the employees with cybersecurity principles
- Secure critical data and information from breaching
- Install and regularly use the software’s from preventing data breaching.
- Install and use firewalls in computers and laptops for secured connection.
- Make backup copies of the data and the information
- Don’t share critical information with third party with any concern
- Secure your Wi-Fi connections
- Limited employee access to the critical information of the organization
- Security check of the system for safe and smooth functioning.
In this ways an organization can nearly secure the data and the critical information from breaching and cyberattacks.
Summing it up
The organizations should secure the data and information from getting stole and cyberattacks. In this pandemic situation the attacks are to be increased as the use of the Internet and the smartphones have increased to the level where getting access to your details and information is very easy for the hackers to access. Clearing up the cookies and securing the data by installing the software would help to an extent from getting into the trap of cyberattacks.
The author is technology writer with ESDS Software Solutions. Views are personal.