The government has warned against a large-scale cyber attacks against businesses and its personnel, where attackers may use Covid-19 as a source to steal personal and financial information.
India’s cyber security nodal agency, CERT-In has issued a warning that the potential phishing attacks could impersonate government agencies, departments and trade bodies, which may cause huge losses/damages to the company who may fall in the trap or is attacked by the cyber criminals.
Moreover, the cyber attack campaign has already started on June 21, 2020, with cyber attackers using email IDs such as ncov2019@gov.in., in order to capture business and individuals data.
Background
As per the Indian Computer Emergency Response Team, these emails are intended to push recipients to fake websites where they are deceived into downloading malicious files or entering personal and financial information, causing a jam in the systems of businesses. The aim of the cyber-attacks may be to cause the loss to the businesses or gather data to sell in the market or seek ransom, ultimately causing the business interruption. Also, the advisory noted that the “malicious actors” are claiming to have 2 million individual/citizen email Ids.
Types of Losses and costs which may be incurred due to such attacks:-
- Business interruption
- Data leakage
- Cyber extortion (Selling manufacturing information)
- Software restoration
- Hardware restoration
- Reduction in profits due to delay & wrong deliveries
- Cyber Investigation cost
- Cleanup cost
- Reputational Cost
How we can help
We have a number of different options available to protect your business. We at Beacon Insurance Broker Understands the exposure of your Cyber data or security in the best way possible to avert cost and losses by covering abovementioned exposure along with our tailored cyber coverage’s; we additionally cover all other related exposure in detail with our detail-oriented professionals.
Disclaimer: – Sole purpose is to share knowledge.
Source- Various primary sources were utilized.