‘More Indian hackers to bring global financial institutions to knees in ‘19’
HYDERABAD: More hacking groups from India and other south-east Asian countries targeting financial institutions are likely to emerge in 2019, according to findings of research on cyber threat.
“Cyber threats to financial institutions 2019: overview and predictions”, a report by Kaspersky, while highlighting the growing number of cybercriminals in the country and neighbouring regions said: “The immaturity of protective solutions in the financial sector and the rapid spread of various electronic means of payment among the population and companies in these regions are contributing to this.”
Till now, Latin America, the Korean peninsula and former USSR nations were the hotbeds for such activities.
The search also predicted cyber attacks through the theft and use of biometric data -- the kind that is embedded in Aadhar. It reasoned that since there are many financial institutions that have implemented biometric data for identification and that simultaneously there also have been many such biometric data leaks, cyber threats arising from this would only rise.
Narrow scope
In another research, this time which predicted the future of cryptocurrency, Kaspersky researchers quashed the expectations of blockchains being the future of cybersecurity.
“..blockchain has a rather narrow scope of application, and most attempts to use in different ways are not justified. The reliable application of blockchain beyond cryptocurrency has been explored and experimented with for years, but there is little evidence of achievement,” it said.