Why ransomware attacks on Indian IT firms are a cause for concern?

Why ransomware attacks on Indian IT firms are a cause for concern?

Subject: Science and Tech

Section: Awareness in IT

Context: 

• A 2023 study conducted by Sophos, a cybersecurity company, showed that 73% of organizations reported being victims of ransomware attacks,  up from 57% the previous year.

What is Ransomware?

• Ransomware is a type of malware that prevents users from accessing their system or personal files and demands ransom payment in order to regain access.
• The malware may usually be injected remotely by tricking the user into downloading it upon clicking an ostensibly safe web link sent via email or other means, including hacking.
• It can spread throughout the network by exploiting existing vulnerabilities.
• Ransomware attacks can be accompanied by theft of sensitive data.
• Recently, Spice jet, Oil India and HCL had faced a cyber-threat.

How are cyber-attacks dealt in India?

• Indian Computer Emergency Team (CERT-In) –
  • CERT-In is the national nodal agency for responding to computer security incidents as and when they occur.
  • CERT-In is operational since January 2004.
  • The constituency of CERT-In is the Indian Cyber Community.
  • CERT-In has been designated to perform the following functions:
  • Collection, analysis and dissemination of information on cyber incidents.
  • Forecast and alerts of cyber security incidents.
  • Emergency measures for handling cyber security incidents
  • Coordination of cyber incident response activities.
  • Issue guidelines, advisories, vulnerability notes and whitepapers relating to information security practices, procedures, prevention, response and reporting of cyber incidents.
  • Imparting training to computer system managers.
• National Cyber Security Coordinator – The National Cyber Security Coordinator, under the National Security Council Secretariat, coordinates with different agencies at the national level on cybersecurity issues.
• The National Critical Information Infrastructure Protection Centre – It has been set up for the protection of national critical information infrastructure.
• The Cyber Swachhta Kendra – It is a Botnet Cleaning and Malware Analysis Centre that has been launched for detection of malicious software programmes and to provide free tools to remove them.
• The National Cyber Coordination Centre – It works on creating awareness about existing and potential threats.
• Cyber Crisis Management Plan – The government has formulated a Cyber Crisis Management Plan for countering cyber-attacks.