Wednesday, November 08, 2017

We know it is coming. We wait.

Number of cases of fraud linked to debit and credit cards reported to the Centre for Cyber Crime Investigation cell at Noida has increased from 238 in 2016 to 736 this year. "Of the 238 complaints reported in 2016, the CCCI cell solved as many as 186 -- a success rate of 78%; whereas in 2017, of the 736 complaints reported so far, the cyber cell has solved only 242 cases -- a success rate of only 33%." Obviously, criminals are getting more sophisticated over time. Linking biometric Aadhaar cards with bank accounts is the main reason for increase. If you lose cash you will lose a finite amount but if your bank account is hacked you will lose all your savings. One month back cybersecurity firms reported that a hacker was offering database of 6,000 Indian companies, both government and private, on the DarkNet. The information was available for 15 Bitcoins and the hacker offered to take down an organization for an unspecified amount. It has taken till this year for Yahoo to realise that all 3 billion of its accounts had been hacked in 2013. Even worse, "Four years after the Internet's biggest data breach ever, Yahoo still has no idea who was behind it, how it was done or when exactly it happened," admitted former CEO Marissa Meyer. If someone steals your wallet the police have some chance in catching the thief, but if a hacker sitting in Russia or China empties out your bank account there is no hope for justice. In September, 143 million Americans discovered that their credit history data had been stolen from Equifax. The hack started in May and was discovered in July but the company did not reveal it till September. On a visit to South Korea, Donald Trump warned the North, "Do not underestimate us. Do not try us." "They are putting your regime in grave danger," Trump warned Kim Jong-un about his nuclear weapons program. "Every step you take down this dark path increases the peril you face." Indeed. North Korean hackers stole war plans between the US and South Korea, including plans to assassinate Kim Jong-un, from the South's Defence Integrated Data Center. The stolen documents reveal military facilities and significant power plants. Nothing the US can do. Chinese hackers stole data about F-35 stealth fighters and P-8 surveillance aircraft from a defence subcontractor in Australia. Lackeys of the government go on lying that our biometric data is completely secure, when they know that hackers can access fingerprints at the time of authentication. This has already happened. The gang was busted because it was based in Lucknow, but what if next time the hackers are from Lahore. Every board meeting should start with discussion about cybersecurity, wrote LP Marcus. Indians are naked because our companies will not 'waste' money on firewalls. Much easier to blame the customer.

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