Cybercrimes in India Likely to Cross 300,000 Mark in 2015 – ASSOCHAM Study

An in-depth study has been released by ASSOCHAM-Mahindra SSG and according to this report, cyber-crime incidents in India are set to double to almost 300,000 in 2015. The primary targets of these crimes are going to be entities in the financial space, security establishments for national defense and the integrated social fabric.

The Secretary General of ASSOCHAM, Mr. D. S. Rawat had this to say – “What is causing even more concern is that the origin of these cybercrimes is widely based abroad in countries including China, Pakistan, Bangladesh and Algeria among others. The economic growth of any nation and its security whether internal or external and competitiveness depends on how well is its cyberspace secured and protected.” The study also goes on to say cyber-crimes are growing at a compounded annual growth rate (CAGR) of 107% in the country and about 12,456 cyber-crime incidents are reported every month.

In 2011 the number of reported cyber-crimes in India was 13,301 and this figure nearly doubled to 22,060 in 2012. In the next year, 2013, this figure saw its biggest jump yet and touched the mark of 71,780. However, 2014 has definitely seen a massive rise in cyber-crimes and by May 2014 the number of reported crimes was already at the 62,189 mark. This kept 2014 well on course as the year with the most cyber-crimes.

But according to this study by the Associated Chambers of Commerce & Industry in India (ASSOCHAM), 2015 will surpass all these numbers when it comes to cyber-crime in the country. And that is without taking stock of all the unreported cyber-crime incidents that occur as well.

Notable highlights from the study

The report also contains several interesting statistics and figures that serve as timely reminders of the need for heightened security protocols on computers, smartphones and other connected devices as well. Here are some noteworthy highlights.

• Online bank accounts are regular victims of phishing attacks and cloning of ATM/debit cards is now a common occurrence. The vulnerabilities of this platform are propounded due to the increased usage of smartphones and tablets for financial transactions. The report also states that maximum offenders came from the age group 18-30 years.
• The report highlighted that the most common points of origin of these cyber-crimes were in countries like US, Brazil, Turkey, China, Pakistan, Bangladesh, Algeria, UAE and Europe.
• The ASSOCHAM report also states that mobile frauds are a concerning area for companies as 35-40% of transactions are carried out over mobile. By 2015, this number is expected to grow to 55-60%.
• India is the third most affected country after the US and Japan by malware for financial transactions.
• In 2012, the global average of cyber-crimes on smartphones was 560 million and the number of these crimes that took place in India was 46 million – or more than 8%.
• The number of Indian websites hacked in 2011 was 21,699; 2012 – 27,605; 2013 – 28,481; 2014 (till May) – 48,174. This number is expected to reach 85,000 in 2015.
• Andhra Pradesh, Karnataka and Maharashtra were the top 3 states targeted by cyber-crimes. These 3 states also contribute 70% to India’s revenue from IT and IT related industries.

These numbers shed some much needed light on the state of cyber-crime in the country and clearly indicate that these numbers are only going to increase further in the near future. It is imperative now for computer users and especially smartphone users, to be aware, secure and proactive against all kinds of rising threats.

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Rahul Thadani