This is the updated article of our previous blog post titled “Malware Nuisance Would Increase In 2016“. In the present cyber security environment, malware have emerged as undefeatable and uncontrollable. Cyber security product and services providers have no other option left but to innovate so that sophisticated malware can be detected at the earliest stage.
Cyber criminals have unlimited resources at their disposal these days. Many of them are even supported by state actors and this allows them to make customised malware that cannot be detected and eliminated by traditional anti virus and security products. As a result the contemporary cyber security products and services are ineffective in preventing such malware from causing damage.
World has already faced sophisticated malware like Stuxnet, Duqu, Flame, Uroburos/Snake, Blackshades, FinFisher, Gameover Zeus (GOZ), etc. These malware were unique as they were detected much after they infected the targeted systems. Some of these systems remained infected for many years and this facilitated targeted cyber espionage and customised infection of these systems.
The financial sector has its own share of cyber security problems and challenges. Malware targeting financial sector are also in circulation for long. These include Carbanak, Vskimmer Trojan, Malware Dump Memory Grabber, etc that cause tremendous financial loss world over. It is not just the financial loss but also loss of faith and goodwill that banks and other financial institutions have to face.
Perry4Law Organisation (P4LO) has provided the “Cyber Security Trends In India 2016” that have predicted that use of botnet and malware would increase in the year 2016. The trends has also predicted that critical infrastructure, cloud computing and e-health would also be on the receiving end. We have already witnessed an increased use of ransomware and malware for targeting hospitals and health industry. Similarly, big corporations are also frequently targeted and their data are encrypted by the cyber criminals. This data is then decrypted only after the ransom is paid by the corporation to the cyber criminal.
The year 2016 would witness an increased use of malware for various purposes like cyber terrorism, cyber warfare and cyber espionage. It is for us to develop both offensive and defensive cyber security capabilities and a robust cyber security infrastructure so that the impact of these malware can be minimised if not eliminated.