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Indian climate technology benefited GDP by Rs.1.34 lakh crore

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Panaji:  Systems developed by Indian scientists to forecast weather, tsunamis and cyclones benefited the country’s Gross Domestic Product (GDP) by nearly Rs.134,000 crore, Union Science and Technology Minister Harsh Vardhan said on Sunday.

India has provided tsunami and cyclone warning systems to around 24 countries, which were reaping benefits of technology indigenously developed by Indian scientists, the minister said during the inaugural session of the 12th International Symposium on Antarctic Earth Science held in Panaji on Sunday.

“The type of information our (science and technology) department gathers, analyses, and then transmits using the most modern communication tools, gives the GDP a benefit of Rs.100,000 crore. For the fishermen, the kind of information we provide through information systems… is something like (Rs.)34,000 crore. This is the impact of science,” said Harsh Vardhan, who is also the minister for Earth Sciences.

He said it was imperative to ensure that cutting-edge science is used to bring aid to humanity.

“We are helping over two dozen countries along the coast, giving them all the data, giving them all the early signals and we have used this science in the best possible manner to help our people,” Harsh Vardhan said. (IANS)

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Cybercrimes cost businesses $600 billion globally: McAfee report

Cybercrime losses are greater in richer countries; however, the countries with the greatest losses are mid-tier nations that are digitised but not yet fully capable of cybersecurity, the report noted.

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Russia, North Korea and Iran are the most active in hacking financial institutions, while China is the most active in cyber espionage.
Hackers are usig new techniques to rob users' data and money. Wikimedia Commons

Cybercrimes have cost businesses close to $600 billion globally — or 0.8% the global GDP — which is up from $445 billion reported three years back, a report said on Thursday.

The report by the global cybersecurity firm McAfee, prepared along with the Centre for Strategic and International Studies (CSIS), said that over the last three years, cybercriminals have quickly adopted new technologies to ease the process of engaging in cybercrimes.

“Ransomware-as-a-Service Cloud providers efficiently scale attacks to target millions of systems, and attacks are automated to require minimal human involvement,” Steve Grobman, Chief Technology Officer for McAfee, said in a statement.

Also Read: Indian companies more prone to cyber attacks

“Add to these factors cryptocurrencies that ease rapid monetisation, while minimising the risk of arrest, and you must conclude that the $600 billion cybercrime figure reflects the extent to which our technological accomplishments have transformed the criminal economy as dramatically as they have every other portion of our economy,” he added.
The report, titled “Economic Impact of Cybercrime — No Slowing Down”, said that banks remain the favourite target for cybercriminals.

McAfee, Inc. is an American global computer security software company.
McAfee, Inc. is an American global computer security software company. Wikimedia Commons

Russia, North Korea and Iran are the most active in hacking financial institutions, while China is the most active in cyber espionage.

“Our research bore out the fact that Russia is the leader in cybercrime, reflecting the skill of its hacker community and its disdain for Western law enforcement,” said James Lewis, Senior Vice President at CSIS.

“North Korea is second in line, as the nation uses cryptocurrency theft to help fund its regime, and we’re now seeing an expanding number of cybercrime centres, including not only North Korea but also Brazil, India and Vietnam,” Lewis added.

Cybercrime losses are greater in richer countries; however, the countries with the greatest losses are mid-tier nations that are digitised but not yet fully capable of cybersecurity, the report noted. (IANS)

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