India has been placed at the seventh spot in the list of targeted countries for Web Application Attacks (WAA), according to a new report titled ‘Akamai State of the Internet Security Q4 2017’ that released on February 21, 2018.
The report states that nearly 40 per cent of over 53,000 cyber attacks in India occurred in the financial services sector during 2017.
• The report reveals that security incidents such as phishing, website intrusions and defacements, virus and ransomware have targeted the rapidly growing of the Banking, Financial Services and Insurance (BFSI) sector in India.
• It also stated that the Distributed Denial of Service (DDoS) attack frequency in the BFSI sector increased by 50 per cent in the fourth quarter of 2017 over the last quarter.
• It also placed India seventh in the list of the top source countries for WAA.
• While India maintained the same position in the third quarter last year, the attacks sourced saw a drop of approximately four million in number as compared to last quarter.
Type of Attacks
DDoS Update / Distributed Denial of Service (DDoS) attacks: These attacks can bring down websites, disrupt businesses, and divert resources, sometimes serving as cover for more insidious data or systems breaches.
Web Application Attacks Update: In contrast to DDoS attacks, web application attacks typically target application vulnerabilities in order to steal data or otherwise compromise the underlying system. These attacks are much more common than DDoS attacks, with attackers often simply scanning the Internet for vulnerable sites to victimise.
Video: Check out the latest current affairs of this week
Significance of the findings
• The data analysed more than 7.3 trillion bot requests per month and found a sharp increase in the threat of credential abuse, with more than 40 per cent of login attempts being malicious.
• This indicates that DDoS attacks remain a consistent threat and the Mirai botnet is still capable of strong bursts of activity.
• The findings also confirmed that the total number of DDoS attacks last quarter increased 14 per cent from the same time last year.
• India’s financial industry saw a sharp increase in the number of DDoS attacks, experiencing 298 DDoS attacks against 37 distinct organisations in the last quarter.
• Besides this, there was a 31 per cent increase in DDoS attacks sourcing from the US in the last quarter compared to the same timeframe in 2017.
• The hospitality industry is reported to have suffered as the biggest target of fraudulent credential attacks, with 82 per cent of their login attempts being from malicious botnets.
• It is the world’s largest and most trusted cloud delivery platform.
• It uses its globally distributed Akamai Intelligent Platform to process trillions of Internet transactions each day.
• This allows the platform to gather massive amounts of data on metrics related to broadband connectivity, cloud security, and media delivery.
• The State of the Internet report was created to enable businesses and governments to make better strategic decisions by using the data collected and the insights it offers.
• The reports are published by Akamai in each quarter with a focus on broadband connectivity and cloud security.
• The reports cover the origins, tactics, types and targets of cyber-attacks and emerging threats and trends.