As computer systems around the world are bleeding from the onslaught of computer virus 'WannaCry ', authorities in India are still trying to assess the damage done by the ransomeware-worm. As IANS reported that police computers across 18 units in Chittoor, Krishna, Guntur, Visakhatpatnam and Srikakulam districts of Andhra Pradesh were infected, there is no definite word on the extent of this cyber attack in India yet.While the full impact of the recent attack remains unclear, how India Inc has fared in similar situations in the past warrants a look. Indian companies have been hit again and again by computer viruses. As per a report by Newflicks, Indians suffered losses amounting to Rs 34,110 crores due to cybercrime in 2011.
Hitting high
As per the report, almost two-third of the higher-ups in an organisation fall prey to cyber attacks. It shows that 64 per cent of the cases have directors and managers as the victims, whereas 53 per cent are general or administrative staff.Where's the money atThe report states that 65 per cent of the cyber crimes were for illicit financial gains. Corporate rivalry follows in the list of motives, with 54 per cent cyber attacks meant for malicious damage to business operations, whereas 46 per cent fall under corporate espionage.Interestingly, 18 per cent attacks are acts of war or terrorism from other countries, via the digital world.
Preferred gameFalling in line with the favourite motive of the hackers, almost three-fourth of the financial services companies suffered a cyber theft or faced a cyber attack.The report shows that 72 per cent of the targets were financial services companies. Almost half the companies (44 per cent) belonged to pharmaceuticals and chemicals sector.As for the safest sectors, infrastructure (two per cent) and construction (10 per cent) were the least bothered by hackers.
Expenses still sparedThe increasing volume and growing frequency of cyber attacks across India have failed, though, to stir Indian companies into action. Two out of three companies spend less than five per cent IT budget on bolstering their cyber defences.A little more than a quarter spend somewhere between 5 to 10 per cent of their IT budgeting on cyber security. Merely, two per cent dedicate 20 per cent to fend off cyber attacks.
Who's the thief?In four out of five cases, the perpetrator is an external entity. Only 17 per cent of the cyber attacks were carried out by employees of the comapnies affected.In case of internal jobs, almost every time men were found to be the culprits in India. 97 per cent of the cases of internal cyber attacks were carried out by men, 61 per cent of them involved employees aged between 31 and 40 years of age.