India Top Destination For Data Theft: Report


New Delhi: As the country's estimated $108 billion IT services industry is becoming the world's favoured outsourcing centre, India is emerging as a popular destination for cyber data theft and may witness growing activity of hackers, says a latest report.

"Data theft is one of the biggest risks posed before the companies in the banking sector. Emerging underground websites help the data thieves to immediately encash the stolen data. Same data can be sold to multiple interested buyers in these underground black markets," the report by Pune-based Indiaforensic said.

It said the availability of low cost resources for cyber activities in the country is also another factor contributing in stealing of financial data.

"When it comes to information technology, India is full of low cost resources. When the anti-fraud mastermind is required to carry out the dedicated hacking activity or a spear-phishing activity, services of various experts are sought for.

"This includes technology experts like spammers, designers and non technology experts like cashiers, droppers, money mules etc. These resources are easily available at very low cost," said the report by Indiaforensic, a firm which conducts fraud examination, security, risk management and forensic accounting research.

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Source: PTI