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Statistical Data Cybercrime is one of the greatest threats to each and every company in the world. The following describes the past year trend of cybersecurity industry and what is forecasted over the next 5 years. 1. By 2021, the annual losses due to cyber crime to hit $6 trillion from $3trillion in 2015. This will be more profitable than the global trade and represents huge economic wealth transfer of all times. 2. The spending for Cybersecurity is expected to exceed $1 trillion from 2017 to the next five years. With the exclusion of IoT and ICS security, the cybersecurity spending in 2017 is more than $86.4 billion. 3. The cybersecurity job vacancies is expected to triple by 2017 to approximately 3.5million 4. Approximately 51% of the world population ie 3.8 billion are internet users in 2017 and hence humans will be prone to attack than the machines in the coming years as more and more digitalisation occurs. 5. Global ransomware damage costs are expected to exceed $5billion in the coming year from a 15x fold from 2015. In 2019, it is expected to be $11.5 billion ie a in every 14 seconds, a business might fall to attack by ransomware.
Exhibit 1: Frequency of Incidents of Cyber Crimes in India
Exhibit 2: Number of Cyber Crime cases reported As far as cybercrimes cases in India are concerned, the position is not very good. According to the information reported by CERT-IN, which works under the IT ministry, more than 700 government websites were hacked between 2013 and 2016. 199 of which were hacked in 2016 as compared to 164 in 2015, 155 in 2014 and 189 in 2013. From 2010 to 2013, registered cases of cybercrime were up from 966 to 4,356, an increase of 350%. A total of 8348 people were arrested during 2014-15 under different provisions of law relating to cybercrimes out of which only 315 were convicted.
Exhibit 3: Cases under IT Act and IPC Year IT Act IPC Cases Registered Persons Arrested Cases Registered Persons Arrested 2011 1791 1184 422 446 2012 2876 1522 601 549 2013 4356 2098 1337 1203 2014 7201 4246 2272 1224 2015 8045 5102 3422 2867 Total 24269 14152 8054 6289 From the global ransomware attacks that hit hundreds of systems to phishing and scanning rackets, at least one cybercrime was reported every 10 minutes in India in the first six months of 2017. That’s higher than a crime every 12 minutes in 2016.
According to the Indian Computer Emergency Response Team (CERT-In), 27,482 cases of cybercrime were reported from January to June. These include phishing, scanning or probing, site intrusions, defacements, virus or malicious code, ransomware and denial-of-service attacks. With more Indians going online, cyber experts said putting in place critical infrastructure to predict and prevent cybercrimes was crucial. India has seen a total of 1.71 lakh cybercrimes in the past three-and-a-half years and the number of crimes so far this year (27,482) indicate that the total number is likely to cross 50,000 by December, just as in 2016. It is not just enough to make efforts at the government level, which is, in some sense happening, but cybercrime affects hundreds of individual systems and firms, all of whom need to be ready with specialised teams. While India has been dealing with crimes such as phishing and defacement, ransomware attacks have come as a surprise.
Analysis of data from 2013 to 2016 shows that network scanning and probing — seen as the first step to detect vulnerabilities in systems so that sensitive data can be stolen — formed 6.7% of all cases while virus or malware accounted for 17.2%. Cyber crimes reported in India rose 19 times over the last ten years (2005 to 2014), from 481 in 2005 to 9,622 in 2014, and India is now ranked third – after the US and China – as a source of “malicious activity” on the Internet and second as a source of “malicious code”. Arrests involving cyber crimes also rose nine times from 569 in 2005 to 5,752 in 2014, according to National Crime Records Bureau (NCRB) data, even as more Indians logged on to the Internet. Internet subscribers in India crossed the 400 million mark and are expected to reach 462 million by June 2016. India was ranked third worldwide, next to US and China, as a source of malicious activity in 2015, according to this 2016 report by Symantec Corp, a software security firm.
Exhibit 4: Source: Symantec Corp India was ranked second as a source of malicious code and fourth and eight as a source or origin for web attacks and network attacks, respectively, in 2015. As many as 9,622 cyber crimes were reported in 2014, an increase of 69% over 2013. Of the 9,622 cyber crimes reported, 7,201 were reported as offences under the Information Technology (IT) Act, 2,272 under the Indian Penal Code (IPC) and 149 under Special and Local Laws (SLL).
Exhibit 5 Under the IT Act, the most — 5,548 cases — reported were computer-related offences, of which 4,192 were under Section 66A, which allows for jail terms up to two to three years for sending “offensive messages through communication service” and related offences. Section 66A of the IT Act was struck down by the Supreme Court in March 2015, saying, “such a law hit at the root of liberty and freedom of expression, the two cardinal pillars of democracy”. IndiaSpend reported how India was following Turkey and Russia in restrictive Internet laws. India ranked 136th, Turkey 149th and Russia 152nd in the 2015 Press Freedom Index, issued by Reporters Without Borders, a Paris-based non-profit. Obscenity, Cheating, Sexual Exploitation – India’s Leading Cyber Crimes As many as 758 cases were registered for publication or transmission of obscene or sexually explicit content under the IT Act. Cheating (1,115) was the most reported crime, accounting for nearly 50% of IPC crimes. Under SSL offences, copyright violation was the most reported crime (118 of 149). “Greed/financial gain” were the major motives behind cyber-crime cases in 2014 with 1,736 cases, followed by “insult to modesty of women (599)”, fraud or illegal gain (495), sexual exploitation (357) and “personal revenge/settling scores (285)”. Maharashtra reported the most cyber crimes (1,879) in 2014, double the cases (907) of the previous year. Uttar Pradesh was second (1,737), followed by Karnataka (1,020), Telangana (703) and Rajasthan (697).
The top five states accounted for 63% of all cases in 2014. As many as 5,752 people were arrested for cyber crimes in 2014, of which 5,744 were Indians and eight foreigners. As many as 95 persons were convicted and 276 acquitted for cyber crimes in 2014.
Exhibit 6 Uttar Pradesh reported the most (1,223) arrests in 2014, followed by Maharashtra (942), Telangana (429), Madhya Pradesh (386) and Karnataka (372). More than 8,000 websites were hacked in the first three months of 2016, and as many as 13,851 spamming violations were reported
Exhibit 7 Cyber security crimes, such as phishing, scanning, introducing malicious code, website intrusion and denial of service, rose 76% over the last five years, from 28,127 in 2011 to 49,455 in 2015. As many as 13,083 and 11,997 cases related to automated teller machines (ATMs), credit/debit cards and net banking frauds were reported by banks during 2014-15 and 2015-16 (till December 2015). Cyber frauds — ATM/credit/debit cards and net banking — cost Rs 226 crore ($38 million) over the last three financial years, 2012-13 to 2014-15.
Cyber crimes cost India $4 billion (Rs 24,630 crore) in 2013, according to a report commissioned by the Delhi High Court. The global cost of cybercrime was estimated between $375 billion (Rs 2,512,500 crore) and $575 billion (Rs 3,852,500 crore), according to a World Bank 2016 report, quoting a 2014 study. The average per person cost of data breaches ranged from $51 in India to $201 in the United States, it said.
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