Cyber Crimes To Surge In India, Likely To Touch 3-lakh mark In 2015

Internet users in India need to tread with caution. A recent study done by ASSOCHAM and Mahindra Special Services Group, the risk and governance consulting arm of Mahindra Group, suggests that the number of cyber crimes in the country is expected to double and cross the 3-lakh mark in 2015.

As per the study, the cyber crimes are growing at a rate of 107% year on year while registering over 12,000 cases every month. According to the report, the number of cases of cyber crimes was 13,301 cases in the year 2011, which was followed by 22,060 such cases in 2012 and 71,780 cases in 2013. By May 2014 alone, the cyber cells in India had registered a whopping increase in cyber crime cases and registered 62,189 cases.

Much to our surprise, clone phishing is one of the most common cyber crimes reported in India. “Phishing attacks of online banking accounts or cloning of ATM/Debit cards are common occurrences. The increasing use of mobile, smartphones, tablets for online banking and financial transactions has also increased the vulnerabilities to a great extent. The maximum offenders came from the 18-30 age groups”, stated the report.

“What is causing even more concern is that the origin of these crimes is widely based abroad in countries including China, Pakistan, Bangladesh and Algeria among others”, said DS Rawat, general secretary of the industry body. Apart these countries, the cyber crimes have been also originating from countries such as the US, Europe, Brazil, Turkey and UAE. “With increasing use of information technology (IT) enabled services such as e-governance, online business and electronic transactions protection of personal and sensitive data have assumed paramount importance. The economic growth of any nation and its security whether internal or external and competiveness depends on how well is its cyberspace secured and protected”, added Rawat.

ATM Frauds On The Rise

Misuse of the ATM-cum-debit card had been a common problem for all. Often debit card users report fraudulent transactions have been made through their ATM cards even when the cards were in their possession.

“I was in my office when I got an automated message from my bank that I just made an ATM transaction worth Rs 1,000. Ironically, I hadn’t even visited the ATM that week as I had already withdrawn enough cash a week before,” said Pooja Sharma, a brand manager with a Gurgaon-based tablet manufacturer.

Similarly, Sandeep Shrivastava, a school teacher realized that his bank account was compromised when he got a similar automated message from his bank (SBI) while in a classroom. “I was in the classroom when I got a message notifying me of an ATM transaction at that time. I had got these messages earlier as well but could never ascertain a fraud as I regularly use my debit card to withdraw money from the ATM every few days.”

RBI Should Keep A Hawk-Eye

The Reserve Bank of India has been regularly running campaigns against such fraudulent claims and has cautioned the public not to fall prey to fictitious offers like lottery winnings, remittance of cheap funds in foreign currency from abroad by the so-called foreign entities or to Indian residents acting as representatives of such individuals. The central bank also runs a message warning the public of such fraud claims.

Despite all this, people are still falling into the traps of cyber phishing attempts—blame it either on consumer’s negligence or give full credit to phishers who plan unsuspicious traps. Innocent users often fall for emails in the name of Reserve Bank of India and other financial bodies, wherein they are offered lottery money, funds from abroad, tax refunds and others.

“I got this mail in my spam box. It stated that RBI is offering to transfer $12 million to the receiver’s personal account. I just had to fill up my personal details including my bank account number, bank’s name and the branch, which was followed by a demand for Rs 2,000 as deposit to claim the lottery funds released by the UN,” said Ashish Bhalla, a marketing executive with a reputed consumer durable company.

Similarly, another fake offer stated that the foreign exchange department of RBI was offering $1million. “…The Foreign Exchange Transfer Department of Reserve bank of India has decided to bring to your attention, that you were listed as a beneficiary in the recent schedule for payment of outstanding debts incurred by the BRITISH GOVERNMENT Pending since 2007 to 2012. According to your file record with your email address, your payment is categorized as: Lottery/inheritance/Unpaid contract funds/ Undelivered Lottery fund…”

Take Caution: Protect Yourself From Cyber Attacks

Since Internet penetration has been growing and online banking is fast replacing the traditional ways, India ranks third after Japan and the US in the list of most affected countries by online banking malware during the year of 2014, says ASSOCHAM.

So, what can you do to avert these attacks?

ASSOCHAM says by following simple do’s and don’ts, people can reduce the number of cyber crimes committed in India. For instance, avoid online banking if the network is not secured. Also, one needs to be cautious while giving away confidential information on emails that seek such information.

“Check your online account frequently and make sure all listed transactions are valid. Always delete spam e-mails immediately and empty the trash box to prevent clicking on the same link accidentally. Beware of lotteries that charge a fee prior to delivery of your prize among others,” suggests Rawat.

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