Cyber-attacks may be planned, carried out faster than a gunshot: Fraud detection firm mFilterIt

Bengaluru

Cyber-attacks may be planned and carried out faster than a gunshot, said mFilterIt, a fraud detection and prevention firm. “We are living in such extraordinary times that a cyber-attack may be planned and carried out faster than a gunshot. And, in this environment, having a weak link can jeopardise a company’s or a country’s core infrastructure systems,’‘ said Amit Relan, Co-founder and Director of mFilterIt.

In a report released on March 25, the company caused that global and Indian governments, agencies and enterprises dealing with data, Internet-as-a-Service, or any business that runs on cyber-infrastructure were under the risk of cyber threat and should adopt dynamic strategies to ensure safety.

The study also said modern cyberwar was no longer about only public or private enterprises that dealt with a country’s immediate defence, but the threat was much more pervasive and comprehensive.

Cyberwarfare has the capacity to harm any government and entities involved in humanitarian activities and aid for construction and reconstruction of a nation, this got reemphasised in the ongoing Russia-Ukraine conflict, observed the study.

The U.S. security agencies, the Department of Homeland Security, and the FBI observed an increase of 800% in cyber-attacks within 48 hours of the commencement of the Russia-Ukraine war. The cyber-attacks against the digital infrastructure were initiated hours before the first missile was launched on February 24th, as per The Microsoft Threat Intelligence Centre.

Incidents of cyber intrusions have gone up dramatically all over the world after the pandemic. In India, more than 11.5 lac cyber-attacks were recorded and reported to the Computer Emergency Response Team (CERT) in 2021, and ransomware attacks have surged by 120%.