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Ransomware an emerging cyber threat, agile criminals: India

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Ransomware attacks are the most pressing threats facing the public and private sectors. (Representative)

Washington:

Ransomware attacks are one of the most pressing threats facing the public and private sectors, India has said at a US-led international meeting on the latest emerging challenge and called for steps to ensure that the country Keep critical infrastructure safe and secure.

Representing India at the Counter Ransomware Initiative organized by the White House, National Cyber ​​Security Coordinator, Lt Gen (Retd) Rajesh Pant told the 30 participating countries that rapid digitization and cryptocurrencies have added vulnerabilities in the cyber domain.

“Ransomware is an evolving form of cyber threat and criminals are becoming more sophisticated and agile. The ensuing global mobility has also created a digital climate for exploitation,” said Mr. Pant.

“The COVID-19 pandemic has fueled this further and has introduced several IT vulnerabilities due to the hasty digital transformation,” he said.

“Another contribution is the growing prominence of cryptocurrencies, which are difficult to trace,” he told the two-day conference on Wednesday.

The conference concluded on Thursday with a joint statement from 30 countries in which they pledged to take action against safe havens for ransomware players.

India, considered an IT superpower, played a key role by leading the discussion on resilience.

“In today’s world, ransomware attacks are one of the most pressing threats facing the public and private sectors,” Mr Pant said, adding that by the end of 2021, ransomware will attack one company every 11 seconds and expected to cause damage. USD20 billion.

“In light of these growing threats, we need to ensure that our organizations, especially the nation’s critical infrastructure, remain safe and secure,” he said.

The National Cyber ​​Security Coordinator said that it is now the collective responsibility of the international community to ensure that the global cyberspace is not dominated by criminal activities such as ransomware and that “we create a safe, secure and resilient cyberspace for our future generations”. .

Indian officials appreciate the US initiative to bring 30 countries on a common platform to discuss and find solutions for our collective resilience, the need to investigate and prosecute perpetrators of virtual currency, virtual currency, and ransomware perpetrators.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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