New Delhi, November 18, 2016: With a spurt in card transaction after demonetisation in India, Russia-based software security company Kaspersky Lab has asked people to remain vigilant, listing a set of precautions to avoid any cyber fraud.
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Attacks on point-of-sale (POS) systems have been growing over the past few years, as physical POS contains the all-important information found on the magnetic strip of a credit card, meaning it can be cloned and used for fraudulent purchases.
“Make sure your employees think twice about their behavior around your POS systems and ensure that they understand that casually clicking on social media links and email attachments in the workplace, especially on any POS-equipped machines, is unacceptable,” suggested Altaf Halde, Managing Director, Kaspersky Lab (South Asia).
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Halde advised that once a POS system is installed, password should be changed from the default system and ensure that each employee has their own login to the machine, so that individual passwords are not shared.
“These passwords are changed regularly. If an employee ceases to work for the business, make sure their password is removed from the system,” Halde added.
The most vulnerable targets are the financial institutions
Singapore, July 16: India’s growing economy and digital push have caught the attention of hackers and an increasing wave of cyber attacks could soon badly impact the country, experts from Russian cyber security firm Kaspersky Lab have warned.
India and other South Asian countries are now on the radar of cyber attackers, said experts, adding that the government and corporates need to procure state-of-the-art, New Age security solutions to thwart their plans.
The impact of recent global cyber attacks were clearly visible in India as “WannaCrypt” — that affected 150 countries globally — and the recent “Petya” malware attack hit computers in the country.
“India’s growing economy and digitalisation are really a big concern as cyber attackers have now begun focusing on developing countries with big populations and average incomes,” Eugene Kaspersky, Chairman and Chief Executive of Kaspersky Lab, told IANS on the sidelines of the recently-concluded “Interpol World 2017” conference in Singapore’s Suntec City.
His comments came as the Moscow-based cyber security firm found that the “Petya” attack hit Gateway Terminal India operated by AP Moller-Maersk at the Jawaharlal Nehru Port Trust (JNPT), a facility near Mumbai which is India’s biggest container port.
The terminal was unable to load or unload because of the attack as it failed to identify which shipment belongs to whom.
According to Vitaly Kamluk, Director of Global Research and Analysis Team for APAC at Kaspersky Labs, there was no cyber security threat till 2010 and India was quite safe till then.
But now, India and other “developing countries are most vulnerable, especially the financial sector. We perceive that banks are most vulnerable in India”, Kamluk told IANS.
Stephan Neumeier, Managing Director of Kaspersky Lab Asia Pacific, stressed the need to educate people to save them from becoming victims of cyber attacks.
“As India’s economy is growing fast, more and more people are now getting access to Internet. They have 4G access and Android devices are becoming popular. They need to be educated about anti-virus solutions as mandatory for devices and be made aware about not falling for phishing attacks,” Neumeier emphasised.
He suggested that malicious emails or links should also be part of the awareness process.
“Countries like India are developing very fast which opens doors for more cyber attacks,” Neumeier added.
The experts also recalled how over 200,000 users were affected in 150 countries after the “WannaCrypt” virus attack which paralysed computers — with a demand being made for a payment of $300 in bitcoins (crypto-currency or virtual currency) for a system to be unblocked.
Citing reports, Kaspersky Lab said that cyber crime costs the world $450 billion per year, which is almost the annual budget of Russia, China and Japan.
The experts said the hackers target government ministries, banks, utilities, other key infrastructure and companies nationwide, demanding ransom in crypto-currency.
Giving the example of Bangladesh, the experts said the hackers recently made a bank heist in the country and made away with $1 billion in one attack, since the security was vulnerable.