Increasing Phishing attacks in India

Phishing Attacks In India

Phishing is on the rise in the country. India is among the top 4 countries in the world for Phishing attacks and not only that it also one of the top holding countries for such attacks. In the recent years with the venturing of sophisticated methodology to morph individuals using social engineering, phishing attacks have been notoriously dangerous in the recent times. Phishing accounts to fraudulent attempts to obtain sensitive information via email. It can be done by duping the receiver and making him believe that it’s a legitimate email.

Ever since November 8, 2016, phrases like “cashless economy” and “digital India” have become part of dinner table conversations in several households. But it seems the drive to go digital at breakneck speed has made India more vulnerable to cyber fraud attacks. Data from global digital security solutions provider RSA shows that in a list of top 10 targeted countries for phishing attacks, India rose from No. 10 in January-March last year to No. 3 in 2018.

Phishing attacks accounted for 50 per cent of all observed fraud attacks in the third quarter of 2018, claimed the “RSA Quarterly Fraud Report” for the Q3 2018. In the third quarter, RSA detected 38,196 total fraud attacks worldwide. The overall phishing volume in Q3 increased 70 per cent from Q2. However, attacks involving financial malware dropped from 16 per cent last quarter to 12 per cent in Q3.

“Phishing and malware-based attacks are the most prolific online fraud tactics developed over the past decade. Phishing attacks not only enable online financial fraud but these sneaky threats chip away at our sense of security as they get better at mimicking legitimate links, messages, accounts, individuals and sites,” the report from RSA said.

Automated fraud comes in the form of the various active banking Trojan horse malware families. These malicious programs do their work quietly and often without detection until it is too late. During the period, RSA detected 9,329 rogue mobile applications, representing 24 per cent of total fraud attacks.

Fraud from mobile browsers and mobile applications increased in Q3 of this year and represented 73 per cent of total fraud transactions, said the report, adding that tear over year, fraud from mobile applications increased 27 per cent. RSA said it recovered nearly 5.5 million unique compromised credit cards in Q3, an eight per cent increase from the previous quarter.

Logix Infosecurity works closely with the Clients team taking care of awareness program as well inducting measure to check Phishing emails by blocking them. Our consultants do a thorough analysis of a company’s existing cyber security setup and make the suggestions in to strengthen the security with the latest trends.

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