Lovisha Darad
Why is data is the new gold? An information or an insight can be used for deeper analysis, track trends, and captivate or manipulate our mind is stored in the form of data. With increased work from home activity and larger information online, cyber frauds are buttons away from gaining access to daily movements. Over the pandemic, India has witnessed a manifold reportage of cyber crime and data breach. Ransomeware attacks, data hack has become a common occurence. According to government reports, over 3.17 lakh cyber crimes have been reported in the last 18 months as Karnataka and Maharashtra lead the list. The recent cyber attack on national carrier service Air India has affected around 45 lakh customers.
Details of customer’s identity, passport, date of birth, contact details, credit card information were compromised in the attack. The breach involved personal data registered over a whopping ten years. Cyber-security investigator Ritesh Bhatia suggests customers to change their passwords across their platforms to avoid any mishap. Though Air India revealed that the CVV data is not leaked, Bhatia says, “Customers who fly overseas must halt their international transactions because the system does not require CVV details.” He also suggests to stop using net banking for the time being and monitor bank statements.
Air India’s Breach Through SITA System
Air India notified that the breach occured through SITA passenger service system. SITA is a Swiss-based technology company specialising in air transport communications and information technology. The company started with 11 member airlines and now has over 2,500 customers. Does this mean that the details in adjoining airlines are compromised too? Bhatia says, “Though over 2,600 airlines are associated with SITA, Thailand and Singapore airlines registers only frequent flyer information but Air India saves every detail of passengers except CVVs because they are encrypted by bank servers.” Earlier in December 2020, IndiGo servers were hacked as well, however the airline ascertained that they were able to restore the systems in a short span of time with minimal impact.
Ransomeware attacks are on the boom too. The United States pipeline network, Colonial Pipeline company is the latest hit by the cyber dark world. The company transports around 45 per cent of petrol and diesel to the east of the U.S. and was forced to shut down operations after the attack on May 7. The temporary pause in fuel transports pumped prices of Brent and average national price in U.S. spiked over $3 per gallon, the highest since 2014. According to reports, the cyber criminal group demanded a ransom of $5 million and the company was forced to pay in bitcoins.
Bitcoin Refuge For Cyber Criminals?
Bitcoin critics have often held strong stance to crypto market residing among the illegal, defrauds, and criminals who tend to misuse the financial system. In a recent move, the U.S. government called out to adopt stricter regulations and compliance for crypto asset class. Janet Yellen, Secretary of the U.S. Treasury Department notified the Internal Revenue System (IRS) to track the movement of bitcoin holders as they pose tax evasion tax. The U.S. Secretary wants every crypto transfer of $10,000 and above to be reported to the IRS.
Another alleged victim of data breach is Domino’s India, which exposed 10 lakh credit card details along with order details. According to reports, the reseller demanded 10 bitcoins in exchange of 13 terabytes of data. Apart from data of Domino’s India users and orders, the criminals could also access data of around 250 employees from different verticals.
Increased adoption of digital services while consumers are gradually transforming into a cashless economy, stricter norms and strengthening the digital infrastructure are key measures to protect the new form of gold.
