We have to think beyond physical safety and include virtual safety in our daily lives . This is because cyber attacks have more than doubled since the pandemic. According to the IMF, size of cyber losses has quadrupled since 2017 to $ 2.5 billion. According to a reputed Security Network around 33% of web users in India have faced cyber threats in one form or the other. Mobile attacks in 2023 were 33 million . Threat techniques used are phishing, ransomware, malware, adware, social engineering etc. To stay safe, we have to follow the basic steps: (a) avoid links in spam messages (b)avoid unknown or suspicious websites and downloading from them (c) avoid disclosing personal information to unknown sources (d) using AI as an Assistant to detect unknown patterns in software which could be virus. By the way, AI can also be used to penetrate a firewall and attack a system (e) Last but not the least, use a Good Anti Virus. But still, we are only safe for the moment: as long we are alert, as long our protective software is updated and as long as we stick to reputed sites and if we face any threat share it with the Cyber Cell of Police , rather than obeying the wishes of the criminal.
By the way, attack on Financial Firms are 20% of the total. The first interest of the Cyber Criminal would be to disrupt the Economic Activity of the Firm, which would affect the Economy of the Country. Financial Firms have to rely on external service providers , who themselves may be attacked by cybercriminals. According to people’s opinion, global cyber regulation is inadequate. Different Government bodies across the world have put in place cyber laws and online privacy laws. But, as we said, ‘We are safe for the moment’ and Moment we feel regulation is adequate an AI generated attack can destroy a system, calling for an evolution of Cyber laws. So to sum up ‘Change is the constant in Cyber Space’.