India’s Banking and Financial Sector Witnessed More Than 17,000 Cyber Attacks in a Single Year

Over 17,000 cyber attacks have occurred in India’s banking and financial sector in one year. According to a report by India’s Computer Emergency Response Team (CERT IN), there were over 17,000 cyber attacks targeting India’s banking and financial sector in 2022.

Despite the high number of cyber attacks, India’s cyber security situation remains better than that of other SAARC countries. According to the Massachusetts Institute of Technology (MIT) Cyberdivergence Index, India ranks 17th out of 20 countries as the most targeted country for cyber attacks.

However, India still lags behind China and Brazil in terms of cyber security. In an interview with BituBInfo Media, Resecurity SAARC Business Head Rajan Pant stated that cyber attacks are increasing in India compared to other SAARC countries.

He mentioned that Nepal experiences fewer cyber attacks compared to other South Asian countries. However, he noted that cyber crime and online fraud are happening rapidly in Nepal. He expressed optimism and stated that the Nepalese government is working to develop cyber security infrastructure.