MNC's & Indian private companies step in to bolster cyber security measures

MNC's & Indian private companies step in to bolster cyber security measures

Author | Ronald Menezes | Saturday, Jun 18,2016 8:10 AM

MNC's & Indian private companies step in to bolster cyber security measures

Cyber crime has emerged as a major security challenge over the last decade. According to National Crime Records Bureau (NCRB), cyber crime rose 19 times since 2005. A total of 9622 cases were reported in 2014 as compared to 481 in 2005.

There is a 69 percent rise in incidences of cyber crimes in 2014 as compared to 2013. Cyber frauds have reportedly cost Rs 226 crore over the last three financial years.

According to a Lok Sabha reply on May 4, 2016 more than 8,000 websites were hacked in the first three months of 2016, and as many as 13,851 spamming violations were reported.

With a continuous rise in the number of cyber crimes, the digital world is at risk; especially at a time when the current government is promoting its Digital India mission. In times like these, IT companies in the country are ready to assist the government in fighting against the rising numbers in cyber crimes.

Microsoft recently announced the opening of its Cyber Security Engagement Centre (CSEC) in Gurgaon in a bid to battle the rising numbers of cyber crimes. It is one of the seven centers for Microsoft globally and will serve as a dedicated hub for Microsoft in India.

The CSEC is designed to cooperate with Indian businesses, government and academic organizations on cyber security and increase its contribution towards securing Indian computers from cyber crime threats. The CSEC combines attorneys, investigators and security response experts from across the company to form Microsoft’s Digital Crime Unit.

At the announcement of the CSEC, Bhaskar Pramanik, Chairman, Microsoft India said, “Cyber security is crucial for Digital India. A data driven economy can flourish only when governments, businesses and individuals have access to hyper scale and hyper flexible cloud computing with the confidence that their data is secure. Our Cyber Security Engagement Center in Gurgaon underlines our relentless commitment to security and partnering India in its digital transformation.”

It uses a proprietary algorithm, Microsoft Advanced Threat Analytics, which works round the clock and constantly learns from the behaviour of organizational entities (users, devices, and resources) and helps customers adapt to the changing nature of cyber security attacks.

Additionally, Microsoft’s Advanced Threat Protection in Exchange Online Protection helps prevent malware attacks in an email environment, strengthening security and protection against the growing threat of identity frauds and business email frauds.

Microsoft’s CSEC will combine the company’s technical proficiency as well as cutting-edge tools and technology with cross-industry expertise to effectively reduce digital risks. It will work with the National Cybersecurity Coordinator as well as the CERT-India and share information to help reduce malware and digital risk in the country, enabling a safe digital India.

Other MNC’s like Apple have also had concerns over cyber security in India. It is reported that in his recent visit to India, Tim Cook and Narendra Modi discussed about issues related to cyber-security and data encryption.

In April Accenture launched a global flagship Cyber Fusion Centre in Bengaluru to respond to new threats and vulnerabilities that clients face. With a team of ethical hackers, Accenture tries to listen to conversations through dark net and look for any indication of intentional attacks on enterprises and organizations so that proactive action can be taken.

Cyber crime is a serious issue in India, and with rising cases in the past decades, a helping hand from MNC’s and Indian private sector companies could help the government realize the Digital India dream.

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