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Experts: Countries Need to Come up with Innovative Approaches to Deal with Cybersecurity Challenges

In India, the average cost of data breach grew 7.29 per cent year-over-year to reach Rs 12.8 crore from Rs 11.9 crore last year, said a new study by IBM

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cybersecurity
In India, the average cost of data breach grew 7.29 per cent year-over-year to reach Rs 12.8 crore from Rs 11.9 crore last year, said a new study by IBM. Pixabay

As cyber crimes grow exponentially globally including in India, there is an urgent need for all the stakeholders to address the cutting-edge complex issues concerning cyberspace, experts said here on Thursday.

According to them, countries need to specifically come up with innovative approaches to deal with cyber security challenges at a global, regional and national level.

“There are new challenges faced by different nations when it comes to cyberspace. The emerging technologies like Artificial Intelligence (AI), Internet of Things (IoT) and automation need to be seen in that context,” said Pavan Duggal, one of the top cyber lawyers in the world.

The roundtable on “Cyberlaw, Cybercrime & Cybersecurity” was attended by representatives from various Embassies and High Commissions of various countries and also various representatives from different ministries of Government of India.

cybersecurity
There is an urgent need for all the stakeholders to address the cutting-edge complex issues concerning cyberspace. Pixabay

In India, the average cost of data breach grew 7.29 per cent year-over-year to reach Rs 12.8 crore from Rs 11.9 crore last year, said a new study by IBM. The root cause for 51 per cent of data breaches was malicious or criminal attacks, system glitches contributed to 27 per cent of breaches and human error led to 22 per cent of breaches in India, the findings showed.

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Duggal said the recommendations from the roundtable would feed into the deliberations during the “International Conference on Cyberlaw, Cybercrime & Cybersecurity 2019”, to be held in New Delhi from November 20-22 in New Delhi.

“A series of roundtables are being organized since 2015 to enable discussions among specific stakeholders from specific sectors on various issues, aspects and perspectives that need to be incorporated and elaborated in the annual international conference,” informed Duggal. (IANS)

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OLX and Quikr Users Get Cheated By Fraudsters

How fraudsters attempt to cheat OLX, Quikr users

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OLX
People often tend to forget that if someone sends them money, they do not get OTP. Pixabay

If you are planning to sell your old refrigerator or air conditioner on OLX or Quikr, first make sure that you understand all the nitty-gritties of digital transactions as fraudsters often target users of these platforms to cheat them of money.

If you lack some basic understanding of how the Unified Payments Interface (UPI)-based transactions work on apps, you may actually end up losing money while attempting to sell stuff on OLX or Quikr.

As soon as you post your ad on these platforms, you may get calls from fraudsters posing as customers. They often appear ready to pay the price that you quote for the item. Sometimes they may even be willing to pay much more than what you originally quoted. Once the deal is fixed, the caller could say that he/she would send the money through PhonePe, Google Pe or other UPI apps.

Where people tend to get tricked is instead of sending the seller money, the fraudsters “Request Money”. If someone does not read the SMS properly, they may fall prey to the tricks of the fraudsters, share the OTP and transfer their own money to them. People often tend to forget that if someone sends them money, they do not get OTP.

“In the last six months, we have identified hundreds of cellphone numbers, which we suspect are of fraudsters and have blocked them. Of the total listings OLX receives each day, nearly 25% of ads are rejected and over 100,000 suspicious accounts are banned every month,” said Lavanya Chandan, General Counsel, OLX India.

To promote cybersafety in India, OLX has also partnered with Cyber Peace Foundation, a civil society organization and think tank of cyber security.

Under this partnership, Cyber Peace Foundation will conduct workshops with users on how to stay safe on the Internet, including on C2C platforms so that they can get the most from their Internet experience. In the first phase of the initiative, OLX and Cyber Peace have rolled out workshops across the states of Karnataka and Haryana.

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In the first phase of the initiative, OLX and Cyber Peace have rolled out workshops across the states of Karnataka and Haryana. Pixabay

“With our partnership with Cyber Peace Foundation, we aim to intensify our efforts in promoting the safe use of the Internet. This partnership augments and aids our initiatives in this area, focused on creating a better Internet for everyone,” Chandan said.

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“Our interventions are holistic and include introducing newer safety features on our app/platform, working with law enforcement, a 24X7 helpline for customer safety issues, increased technology-based fraud detection and prevention.

“With Cyber Peace Foundation we are now also going directly to users to help equip them with the knowledge and confidence to use the Internet and digital platforms to their advantage,” Chandan said. (IANS)