NEW DELHI: Digital is fast engulfing our lives. Even as the world is looking at open banking, we too in India are already embracing a digital economy on a democratised rail. But, there’s a catch that nobody is talking about.
This increasing digitisation is accompanied with emerging cyber threats like digital black markets, where the sale of contraband and illegal services is a big and profitable business. India suffered an economic loss of $18.5 billion in 2017 due to business on the digital black markets, a fourfold increase from $4.2 billion in 2014, finds a report revealed by Gateway House. While the think tank is currently collating the statistics for 2018, the biggest question of the hour is how to clamp down on such dark-net markets.
Sameer Patil, Fellow, National Security Studies & Director, Centre for International Security, Gateway House said that these marketplaces, which have now become the mainstay of online illicit activity in India and around the world, have an average life span of one to one-and-a-half-years but ensure high quality of contraband and address customers’ grievances over quality, shipment, and payment. “At present, digital black market activity in India is limited, but it is only a matter of time before it increases,” he added.
The report also highlights that currently a handful of India-based vendors are already on these sites, offering Indian opium and other contraband to customers in India and abroad. “These marketplaces threaten our national security as their offerings of contraband, malicious software and illegal services have lured organised criminal networks, terrorist groups and other non-state actors as a force multiplier for illicit activities,” Patil said, adding that India still lacks a comprehensive understanding of digital black market activity and the technological and forensic skills to deal with it.
The think tank, in a research paper, Partnering for Prosperity: India-Canada Collaboration to Curb Digital Black Markets, has recommended that India establish more offensive cybersecurity cooperation and partner with like-minded countries such as Canada, a global leader in artificial intelligence and cyber forensics. Both India and Canada can work together to discredit these marketplaces through Sybil attacks, wherein a reputation system is subverted by forging identities in peer-to-peer networks.
Cyber threat
Digital black market or sale of contraband and illegal services online is emerging a big cyber threat.
These marketplaces have an average life span of one to one-and-a-half-years.
However, they ensure high quality of contraband and address customers’ grievances over quality, shipment, and payment.
India still lacks a comprehensive understanding of digital black market activity and the technological and forensic skills to deal with it.