Covid-19 – Cyberattacks on corporate networks

As the internet and e-commerce has grown, employee access to company data has increased, and remote access to internal computer systems has become commonplace, cyber-attacks have evolved, becoming more sophisticates and their affects becoming more devastating. Current cyber threats and attackers are increasingly focused on profiting from the consequences of their attack actions and either exploit the data they illicitly obtain for private gain or require payments from the victimizes enterprise to restore service, access, or website back to operational functionality.

The number of cyberattacks on Indian companies has doubled in the past few days, as cybercriminals use the disruption brought about by the Covid-19 outbreak to infiltrate corporate networks and steal data, according to a study by PricewaterhouseCoopers’ cybersecurity team. Due to increased hacker activity, phishing attempts have gone up by three times, and the work from home infrastructure is also under attack.

According to the study, ‘work from anywhere’ infrastructure is being heavily targeted along with attempts of identity theft and malicious payload delivery.  As companies scrambled to set up VPN infrastructure and enable their employees to work from anywhere during the crisis, the hackers targeted companies with widespread phishing campaigns. Also, there was a global spike in the number of phishing emails from February 2020 indicating a serious and targeted attempt to exploit the human anxiety related to the Covid-19 disease to obtain credentials or deliver trojans. In early March, a new ransomware dubbed ‘Covidlock’ was spread disguised as a coronavirus tracking app.

The major threat vector observed in India was AZORult — a malware designed to steal information including credentials.
“Cyber fraudsters are using a malware called coronavirus map, which can compromise your confidential data,” an official said.

Hackers take advantage of current times that people work from home and exploit the weakness of remote access devices and unclear security policies. There is a rise of ransomware, target extortion, data theft, economic espionage and email financial fraud and hence Israel companies focus on enterprise and financial institution’s cyber risk management and risk mitigation. several important aspects of cyber risks and how these affect the security of organization are being addressed.

Relevant companies, interested to learn more on Israel innovative technology are invited to contact the Trade and Economic Department at the Israeli Consulate General in Bengaluru.

For further queries:
contact: Kavitha Saravanan, Trade Officer, Trade and Economic Mission
Tel: +91-80-49406515.

Leave A Comment