The RBI has identified cybersecurity as a primary challenge in the financial sector, particularly as institutions transition to digital technologies. The report warns that increased digitization could pose serious risks to financial stability due to cybersecurity threats, data breaches, and the rapid spread of misinformation. Additionally, government systems and public sector entities have seen cyberattacks increase by at least 50%, further exacerbating the nation’s cybersecurity challenges.
Earlier this year, a hacking group targeted Indian government agencies and energy companies with a Trojan known as HackBrowserData. Furthermore, cyber operations from neighboring countries like Pakistan and China continue to threaten Indian organizations, as seen in recent operations like Cosmic Leopard.
According to a Cloudflare report, 83% of organizations in India reported at least one cybersecurity incident in the last year, placing the country fourth in the Asia-Pacific region. Globally, India ranks as the fifth most breached nation, underscoring the urgent need for enhanced cybersecurity measures.
Experts emphasize the importance of addressing cloud-related threats, attacks on connected devices, and insider threats. The increasing adoption of AI and cloud technologies has expanded the threat landscape, making it critical for Indian organizations to strengthen their defenses.
The evolving threat landscape, coupled with the use of AI in cyberattacks, highlights the need for robust cybersecurity strategies. As AI-enabled phishing and social engineering techniques become more common, Indian businesses must prioritize cybersecurity training and the development of stronger defenses against these sophisticated threats.
Source: Dark Reading
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