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Home » Cyber Security News » 17 Trillion Projections by 2047, ET CISO

17 Trillion Projections by 2047, ET CISO

17 Trillion Projections by 2047, ET CISO

If left unchecked, India could attract nearly 1 trillion cyberattacks annually by 2033, and by the time it turns 100 in 2047, the country could be a target of 17 trillion cyberattacks, according to projections. Cybersecurity experts on Tuesday expressed concern at the increase in cases of cyberattacks and stressed the need for stronger measures to tackle the problem.

Non-profit Prahar released a report indicating the urgent need for a robust, large-scale cyber defence apparatus.

The report highlights how the rapid expansion in India’s digital ecosystem leaves it open to risks. Cyberattacks on AIIMS and airlines by clandestine cyber entities are cases in point.

In 2023, the country faced over 79 million cyberattacks, 15% more than in the previous year, ranking it third globally in terms of the number of such incidents. The escalation has continued into 2024. In the first quarter, there has been a sharp rise in cyberattacks, with over 500 million incidents in just three months. A recent report highlighted a 46% increase in cyberattacks in the second quarter than in the same period in 2023.

This surge highlighted a growing need for stronger cybersecurity measures across industries, particularly in sectors increasingly targeted by cybercriminals. Globally, cyberattacks increased 76% in the first quarter of 2024, with India among the most affected countries. In the first four months of 2024, Indians lost more than Rs 1,750 crore to cybercriminals, reported through 7.4 lakh complaints on the National Cybercrime Reporting Portal.

Prahar’s report, ‘The Invisible Hand’, highlighted how critical infrastructure hacking and sophisticated manipulation of its citizens were core components of these new forms of vulnerabilities and attacks. It underlined the necessity of a well-planned, five-year national cybersecurity strategy and suggested that all IT-related infrastructure be consolidated under one organisation or ministry for focused efforts.

The report also explores the dangers posed by betting and gaming apps with hidden, orchestrated strategies at play. “There are two types of cyberattacks. The first involves traditional hackers who exploit vulnerabilities in systems for financial gain or disruption. The second, more insidious form targets citizens, recruiting them to engage in anti-national activities through manipulation, coercion, or threats,” pointed out Abhay Mishra, president, Prahar.

“Such tactics are most likely to be used on illegal betting apps. This tactic also resembles approaches deployed in Bangladesh, where adversaries managed to turn ordinary citizens into instruments of destabilisation, undermining govt institutions from within.”

Retired IPS Muktesh Chander, former special commissioner, Delhi Police, said, “A situation has arisen where not only individual hackers or disgruntled people, but also state-sponsored actors and states themselves are engaging in activities that sabotage important parameters of the economy.”

  • Published On Oct 31, 2024 at 11:53 AM IST

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