Cybersecurity: Beware! Coronavirus-themed attacks on the rise

New Delhi was among the top 10 cities in the world that recorded the highest number of cyber attacks during the two-month- long lockdown, with many of them coronavirus-themed attacks according to a report by digital technology provider Subex. India was among the top five most attacked countries in the region throughout the quarter. The country attracted attacks of relatively high quality (as compared to other regions and last year).

HOW FIS IS USING ARTIFICIAL INTELLIGENCE TO MONITOR AND PREVENT CYBER FRAUD

Business continuity amid the COVID-19 lockdown is a big issue for all companies. Firms are not just at risk of facing outages, but also face continuous data security vulnerabilities and cyber threats. As per a study by PwC, the volume of cyberattacks on Indian companies has gone exponential as cybercriminals utilise the new work paradigm brought about by the COVID-19 outbreak to infiltrate corporate networks and steal data. 

With the lockdown around the world, employees are expected to continue working remotely, which is undoubtedly a threat to most companies as the network perimeter has expanded radically. In the new work setting, fraudsters are using fake emails, websites, and VPAs (Virtual Payment Address) for fraud and social engineering.