Spy Loan Scam: Legal Sanctions and Victims Accountability
Ms. Tanushree Saxena
State Coordinator Gujrat, Policy & Advocacy, CyberPeace
PUBLISHED ON
Dec 18, 2023
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Introduction
In the wake of the Spy Loan scandal, more than a dozen malicious loan apps were downloaded on Android phones from the Google Play Store, However, the number is significantly higher because they are also available on third-party marketplaces and questionable websites.
Unmasking the Scam
When a user borrows money, these predatory lending applications capture large quantities of information from their smartphone, which is then used to blackmail and force them into returning the total with hefty interest levels. While the loan amount is disbursed to users, these predatory loan apps request sensitive information by granting access to the camera, contacts, messages, logs, images, Wi-Fi network details, calendar information, and other personal information. These are then sent to loan shark servers.
The researchers have disclosed facts about the applications used by loan sharks to mislead consumers, as well as the numerous techniques used to circumvent some of the limitations imposed on the Play Store. Malware is often created with appealing user interfaces and promotes simple and rapid access to cash with high-interest payback conditions. The revelation of the Spy Loan scandal has triggered an immediate response from law enforcement agencies worldwide. There is an urgency to protect millions of users from becoming victims of malicious loan apps, it has become extremely important for law enforcement to unmask the culprits and dismantle the cyber-criminal network.
Aap’s banned: here is the list of the apps banned by Google Play Store :
AA Kredit: इंस्टेंट लोन ऐप (com.aa.kredit.android)
Amor Cash: Préstamos Sin Buró (com.amorcash.credito.prestamo)
Oro Préstamo – Efectivo rápido (com.app.lo.go)
Cashwow (com.cashwow.cow.eg)
CrediBus Préstamos de crédito (com.dinero.profin.prestamo.credito.credit.credibus.loan.efectivo.cash)
SpyLoan's loan application violates Google's Financial Services policy by unilaterally shortening the repayment period for personal loans to a few days or any other arbitrary time frame. Additionally, the company threatens users with public embarrassment and exposure if they do not comply with such unreasonable demands.
Furthermore, the privacy rules presented by SpyLoan are misleading. While ostensibly reasonable justifications are provided for obtaining certain permissions, they are very intrusive practices. For instance, camera permission is ostensibly required for picture data uploads for Know Your Customer (KYC) purposes, and access to the user's calendar is ostensibly required to plan payment dates and reminders. However, both of these permissions are dangerous and can potentially infringe on users' privacy.
Prosecution Strategies and Legal Framework
The law enforcement agencies and legal authorities initiated prosecution strategies against the individuals who are involved in the Spy Loan Scandal, this multifaced approach involves international agreements and the exploration of innovative legal avenues. Agencies need to collaborate with International agencies to work on specific cyber-crime, leveraging the legal frameworks against digital fraud furthermore, the cross-border nature of the spy loan operation requires a strong legal framework to exchange information, extradition requests, and the pursuit of legal actions across multiple jurisdictions.
Legal Protections for Victims: Seeking Compensation and Restitution
As the legal battle unfolds in the aftermath of the Spy loan scam the focus shifts towards the victims, who suffer financial loss from such fraudulent apps. Beyond prosecuting culprits, the pursuit of justice should involve legal safeguards for victims. Existing consumer protection laws serve as a crucial shield for Spy Loan victims. These laws are designed to safeguard the rights of individuals against unfair practices.
Challenges in legal representation
As the legal hunt for justice in the Spy Loan scam progresses, it encounters challenges that demand careful navigation and strategic solutions. One of the primary obstacles in the legal pursuit of the Spy loan app lies in the jurisdictional complexities. Within the national borders, it’s quite challenging to define the jurisdiction that holds the authority, and a unified approach in prosecuting the offenders in various regions with the efforts of various government agencies.
Concealing the digital identities
One of the major challenges faced is the anonymity afforded by the digital realm poses a challenge in identifying and catching the perpetrators of the scam, the scammers conceal their identity and make it difficult for law enforcement agencies to attribute to actions against the individuals, this challenge can be overcome by joint effort by international agencies and using the advance digital forensics and use of edge cutting technology to unmask these scammers.
Technological challenges
The nature of cyber threats and crime patterns are changing day by day as technology advances this has become a challenge for legal authorities, the scammers explore vulnerabilities, making it essential, for law enforcement agencies to be a step ahead, which requires continuous training of cybercrime and cyber security.
Shaping the policies to prevent future fraud
As the scam unfolds, it has become really important to empower users by creating more and more awareness campaigns. The developers of the apps need to have a transparent approach to users.
Conclusion
It is really important to shape the policies to prevent future cyber frauds with a multifaced approach. Proposals for legislative amendments, international collaboration, accountability measures, technology protections, and public awareness programs all contribute to the creation of a legal framework that is proactive, flexible, and robust to cybercriminals' shifting techniques. The legal system is at the forefront of this effort, playing a critical role in developing regulations that will protect the digital landscape for years to come.
Safeguarding against spyware threats like SpyLoan requires vigilance and adherence to best practices. Users should exclusively download apps from official sources, meticulously verify the authenticity of offerings, scrutinize reviews, and carefully assess permissions before installation.
Microsoft rolled out a set of major security updates in August, 2024 that fixed 90 cracks in the MS operating systems and the office suite; 10 of these had been exploited in actual hacker attacks and were zero-days. In the following discussion, these vulnerabilities are first outlined and then a general analysis of the contemporary cyber security threats is also undertaken in this blog. This blog seeks to give an acquainted and non-acquainted audience about these updates, the threat that these exploits pose, and prevent measures concerning such dangers.
1. Introduction
Nowadays, people and organisations face the problem of cybersecurity as technologies develop and more and more actions take place online. These cyber threats have not ceased to mutate and hence safeguarding organisations’ digital assets requires a proactive stand. This report is concerned with the vulnerabilities fixed by Microsoft in August 2024 that comprised a cumulative of 90 security weaknesses where six of them were zero-day exploits. All these make a terrible risk pose and thus, it is important to understand them as we seek to safeguard virtual properties.
2. Overview of Microsoft’s August 2024 Security Updates
August 2024 security update provided by Microsoft to its products involved 90 vulnerabilities for Windows, Office, and well known programs and applications. These updates are of the latest type which are released by Microsoft under its Patch Tuesday program, a regular cum monthly release of all Patch updates.
Critical Flaws: As expected, seven of the 90 were categorised as Critical, meaning that these are flaws that could be leveraged by hackers to compromise the targeted systems or bring operations to a halt.
Zero-Day Exploits: A zero-day attack can be defined as exploits, which are as of now being exploited by attackers while the software vendor has not yet developed a patch for the same. It had managed 10 zero-days with the August update, which underlines that Microsoft and its ecosystems remain at risk.
Broader Impact: These are not isolated to the products of Microsoft only They still persist Despite this, these vulnerabilities are not exclusive to the Microsoft products only. Other vendors such as Adobe, Cisco, Google, and others also released security advisories to fix a variety of issues which proves today’s security world is highly connected.
3. Detailed Analysis of Key Vulnerabilities
This section provides an in-depth analysis of some of the most critical vulnerabilities patched in August 2024. Each vulnerability is explained in layman’s terms to ensure accessibility for all readers.
The problem is in programs that belong to the Microsoft Project family which is known to be a popular project management system. The vulnerability enables an attacker to produce a file to entice an user into opening it and in the process execute code on the affected system. This could possibly get the attacker full control of the user’s system as mentioned in the following section.
Explanation for Non-Technical Readers: Let us assume that one day you received a file which appears to be a normal word document. When it is opened, it is in a format that it secretly downloads a problematic program in the computer and this goes unnoticed. This is what could happen with this vulnerability, that is why it is very dangerous.
Some of the risks relate to a feature known as the Windows Scripting Engine, which is an important system allowing a browser or an application to run scripts in a web page or an application. The weak point can result in corruption of memory space and an attacker can perform remote code execution with the possibility to affect the entire system.
Explanation for Non-Technical Readers: For the purpose of understanding how your computer memory works, imagine if your computer’s memory is a library. This vulnerability corrupts the structure of the library so that an intruder can inject malicious books (programs) which you may read (execute) on your computer and create havoc.
It opens up a security weakness in the Windows Ancillary Function Driver for WinSock, which is an essential model that masks the communication between the two. It enables the attacker to gain new privileges on the particular system they have attacked, in this case they gain some more privileges on the attacked system and can access other higher activities or details.
Explanation for Non-Technical Readers: This flaw is like somebody gaining access to the key to your house master bedroom. They can also steal all your valuable items that were earlier locked and could only be accessed by you. It lets the attacker cause more havoc as soon as he gets inside your computer.
3. 4 CVE-2024-38106: Windows Kernel Elevation of Privilege Vulnerability (CVSS score: 7. 0)
This vulnerability targets what is known as the Windows Kernel which forms the heart or main frameworks of the operating system that controls and oversees the functions of the computer components. This particular weakness can be exploited and an opponent will be able to get high-level access and ownership of the system.
Explanation for Non-Technical Readers: The kernel can be compared to the brain of your computer. It is especially dangerous that if someone can control the brain he can control all the rest, which makes it a severe weakness.
3. 5 CVE-2024-38213: Windows Mark of the Web Security Feature Bypass Vulnerability (CVSS score: 6.5).
This vulnerability enables the attackers to evade the SmartScreen component of Windows which is used to safeguard users from accessing unsafe files. This weakness can be easily used by the attackers to influence the users to open files that are otherwise malicious.
Explanation for Non-Technical Readers: Usually, before opening a file your computer would ask you in advance that opening the file may harm your computer. This weak point makes your computer believe that this dangerous file is good and then no warning will be given to you.
4. Implications of the Vulnerabilities
These vulnerabilities, importantly the zero-day exploits, have significant implications on all users.
Data Breaches: These weaknesses can therefore be manipulated to cause exposures of various data, occasioning data leaks that put individual and corporate information and wealth.
System Compromise: The bad guys could end up fully compromising the impacted systems meaning that they can put in malware, pilfer data or simply shut down a program.
Financial Loss: The organisations that do not patch these vulnerabilities on the shortest notice may end up experiencing a lot of losses because of having to deal with a lot of downtimes on their systems, having to incur the costs of remediating the systems that have been breached and also dealing with legal repercussions.
Reputation Damage: Security breaches and IT system corruptions can result in loss of customer and partner confidence in an organisation’s ability to protect their information affecting its reputation and its position in the market.
5. Recommendations for Mitigating Risks
Immediate measures should be taken regarding the risks linked to these issues since such weaknesses pose a rather high threat. The following are recommendations suitable for both technical and non-technical users.
5. 1 Regular Software Updates
Make it a point that all the software, particularly operating systems and all Microsoft applications are updated. Any system out there needs to update it from Microsoft, and its Patch Tuesday release is crucial.
For Non-Technical Users: As much as possible, reply ‘yes’ to updates whenever your computer or smartphone prompts for it. These updates correct security matters and secure your instruments.
5. 2 Realisation of Phishing Attacks
Most of the risks are normally realised through phishing techniques. People should be taught diversifiable actions that come with crazy emails like clicking on links and opening attachments.
For Non-Technical Users: Do not respond to emails from unknown people and if they make you follow a link or download a file, do not do it. If it looks like spam, do not click on it.
5. 3 Security Software
Strong and reliable antivirus and anti-malware software can be used to identify and avoid the attacks that might have high chances of using these vulnerabilities.
For Non-Technical Users: Ensure you download a quality antivirus and always update it. This works like a security guard to your computer by preventing bad programs.
5. 4 Introduce Multi Factor Authentication (MFA)
MFA works in a way to enforce a second factor of authentication before the account can be accessed; for instance, a user will be asked to input a text message or an authentication application.
For Non-Technical Users: NS is to make use of two-factor authentication on your accounts. It is like increasing the security measures that a man who has to burgle a house has to undergo by having to hammer an additional lock on the door.
5. 5 Network segmentations and Privileges management
Network segmentation should be adopted by organisations to prevent the spread of attacks while users should only be granted the privileges required to do their activities.
For Non- Technical Users: Perform the assessments of user privileges and the networks frequently and alter them in an effort of reducing the extent of the attacks.
6. Global Cybersecurity Landscape and Vendor Patches
The other major vendors have also released patches to address security vulnerabilities in their products. The interdependent nature of technology has the effect on the entire digital ecosystem.
Adobe, Cisco, Google, and Others: These companies have released updates to address the weaknesses in their products that are applied in different sectors. These patches should be applied promptly to enhance cybersecurity.
Collaboration and Information Sharing:Security vendors as well as researchers and experts in the cybersecurity domain, need to remain vigilant and keep on sharing information on emerging threats in cyberspace.
7. Conclusion
The security updates companies such as Microsoft and other vendors illustrate the present day fight between cybersecurity experts and cybercriminals. All the vulnerabilities addressed in this August 2024 update cycle are a call for prudence and constant protection of digital platforms. These vulnerabilities explain the importance of maintaining up-to-date systems, being aware of potential threats, and implementing robust security practices. Therefore, it is important to fortify our shield in this ever expanding threat domain, in order to be safe from attackers who use this weakness for their malicious purposes.
The rapid digitization of educational institutions in India has created both opportunities and challenges. While technology has improved access to education and administrative efficiency, it has also exposed institutions to significant cyber threats. This report, published by CyberPeace, examines the types, causes, impacts, and preventive measures related to cyber risks in Indian educational institutions. It highlights global best practices, national strategies, and actionable recommendations to mitigate these threats.
Image: Recent CyberAttack on Eindhoven University
Significance of the Study:
The pandemic-induced shift to online learning, combined with limited cybersecurity budgets, has made educational institutions prime targets for cyberattacks. These threats compromise sensitive student, faculty, and institutional data, leading to operational disruptions, financial losses, and reputational damage. Globally, educational institutions face similar challenges, emphasizing the need for universal and localized responses.
Threat Faced by Education Institutions:
Based on the insights from the CyberPeace’s report titled 'Exploring Cyber Threats and Digital Risks in Indian Educational Institutions', this concise blog provides a comprehensive overview of cybersecurity threats and risks faced by educational institutions, along with essential details to address these challenges.
🎣 Phishing: Phishing is a social engineering tactic where cyber criminals impersonate trusted sources to steal sensitive information, such as login credentials and financial details. It often involves deceptive emails or messages that lead to counterfeit websites, pressuring victims to provide information quickly. Variants include spear phishing, smishing, and vishing.
💰 Ransomware: Ransomware is malware that locks users out of their systems or data until a ransom is paid. It spreads through phishing emails, malvertising, and exploiting vulnerabilities, causing downtime, data leaks, and theft. Ransom demands can range from hundreds to hundreds of thousands of dollars.
🌐 Distributed Denial of Service (DDoS): DDoS attacks overwhelm servers, denying users access to websites and disrupting daily operations, which can hinder students and teachers from accessing learning resources or submitting assignments. These attacks are relatively easy to execute, especially against poorly protected networks, and can be carried out by amateur cybercriminals, including students or staff, seeking to cause disruptions for various reasons
🕵️ Cyber Espionage: Higher education institutions, particularly research-focused universities, are vulnerable to spyware, insider threats, and cyber espionage. Spyware is unauthorized software that collects sensitive information or damages devices. Insider threats arise from negligent or malicious individuals, such as staff or vendors, who misuse their access to steal intellectual property or cause data leaks..
🔒 Data Theft: Data theft is a major threat to educational institutions, which store valuable personal and research information. Cybercriminals may sell this data or use it for extortion, while stealing university research can provide unfair competitive advantages. These attacks can go undetected for long periods, as seen in the University of California, Berkeley breach, where hackers allegedly stole 160,000 medical records over several months.
🛠️ SQL Injection: SQL injection (SQLI) is an attack that uses malicious code to manipulate backend databases, granting unauthorized access to sensitive information like customer details. Successful SQLI attacks can result in data deletion, unauthorized viewing of user lists, or administrative access to the database.
🔍Eavesdropping attack: An eavesdropping breach, or sniffing, is a network attack where cybercriminals steal information from unsecured transmissions between devices. These attacks are hard to detect since they don't cause abnormal data activity. Attackers often use network monitors, like sniffers, to intercept data during transmission.
🤖 AI-Powered Attacks: AI enhances cyber attacks like identity theft, password cracking, and denial-of-service attacks, making them more powerful, efficient, and automated. It can be used to inflict harm, steal information, cause emotional distress, disrupt organizations, and even threaten national security by shutting down services or cutting power to entire regions
Insights from Project eKawach
The CyberPeace Research Wing, in collaboration with SAKEC CyberPeace Center of Excellence (CCoE) and Autobot Infosec Private Limited, conducted a study simulating educational institutions' networks to gather intelligence on cyber threats. As part of the e-Kawach project, a nationwide initiative to strengthen cybersecurity, threat intelligence sensors were deployed to monitor internet traffic and analyze real-time cyber attacks from July 2023 to April 2024, revealing critical insights into the evolving cyber threat landscape.
Cyber Attack Trends
Between July 2023 and April 2024, the e-Kawach network recorded 217,886 cyberattacks from IP addresses worldwide, with a significant portion originating from countries including the United States, China, Germany, South Korea, Brazil, Netherlands, Russia, France, Vietnam, India, Singapore, and Hong Kong. However, attributing these attacks to specific nations or actors is complex, as threat actors often use techniques like exploiting resources from other countries, or employing VPNs and proxies to obscure their true locations, making it difficult to pinpoint the real origin of the attacks.
Brute Force Attack:
The analysis uncovered an extensive use of automated tools in brute force attacks, with 8,337 unique usernames and 54,784 unique passwords identified. Among these, the most frequently targeted username was “root,” which accounted for over 200,000 attempts. Other commonly targeted usernames included: "admin", "test", "user", "oracle", "ubuntu", "guest", "ftpuser", "pi", "support"
Similarly, the study identified several weak passwords commonly targeted by attackers. “123456” was attempted over 3,500 times, followed by “password” with over 2,500 attempts. Other frequently targeted passwords included: "1234", "12345", "12345678", "admin", "123", "root", "test", "raspberry", "admin123", "123456789"
Insights from Threat Landscape Analysis
Research done by the USI - CyberPeace Centre of Excellence (CCoE) and Resecurity has uncovered several breached databases belonging to public, private, and government universities in India, highlighting significant cybersecurity threats in the education sector. The research aims to identify and mitigate cybersecurity risks without harming individuals or assigning blame, based on data available at the time, which may evolve with new information. Institutions were assigned risk ratings that descend from A to F, with most falling under a D rating, indicating numerous security vulnerabilities. Institutions rated D or F are 5.4 times more likely to experience data breaches compared to those rated A or B. Immediate action is recommended to address the identified risks.
Risk Findings :
The risk findings for the institutions are summarized through a pie chart, highlighting factors such as data breaches, dark web activity, botnet activity, and phishing/domain squatting. Data breaches and botnet activity are significantly higher compared to dark web leakages and phishing/domain squatting. The findings show 393,518 instances of data breaches, 339,442 instances of botnet activity, 7,926 instances related to the dark web and phishing & domain activity - 6711.
Key Indicators: Multiple instances of data breaches containing credentials (email/passwords) in plain text.
Botnet activity indicating network hosts compromised by malware.
Credentials from third-party government and non-governmental websites linked to official institutional emails
Details of software applications, drivers installed on compromised hosts.
Sensitive cookie data exfiltrated from various browsers.
IP addresses of compromised systems.
Login credentials for different Android applications.
Below is the sample detail of one of the top educational institutions that provides the insights about the higher rate of data breaches, botnet activity, dark web activities and phishing & domain squatting.
Risk Detection:
It indicates the number of data breaches, network hygiene, dark web activities, botnet activities, cloud security, phishing & domain squatting, media monitoring and miscellaneous risks. In the below example, we are able to see the highest number of data breaches and botnet activities in the sample particular domain.
Risk Changes:
Risk by Categories:
Risk is categorized with factors such as high, medium and low, the risk is at high level for data breaches and botnet activities.
Challenges Faced by Educational Institutions
Educational institutions face cyberattack risks, the challenges leading to cyberattack incidents in educational institutions are as follows:
🔒 Lack of a Security Framework: A key challenge in cybersecurity for educational institutions is the lack of a dedicated framework for higher education. Existing frameworks like ISO 27001, NIST, COBIT, and ITIL are designed for commercial organizations and are often difficult and costly to implement. Consequently, many educational institutions in India do not have a clearly defined cybersecurity framework.
🔑 Diverse User Accounts: Educational institutions manage numerous accounts for staff, students, alumni, and third-party contractors, with high user turnover. The continuous influx of new users makes maintaining account security a challenge, requiring effective systems and comprehensive security training for all users.
📚 Limited Awareness: Cybersecurity awareness among students, parents, teachers, and staff in educational institutions is limited due to the recent and rapid integration of technology. The surge in tech use, accelerated by the pandemic, has outpaced stakeholders' ability to address cybersecurity issues, leaving them unprepared to manage or train others on these challenges.
📱 Increased Use of Personal/Shared Devices: The growing reliance on unvetted personal/Shared devices for academic and administrative activities amplifies security risks.
💬 Lack of Incident Reporting: Educational institutions often neglect reporting cyber incidents, increasing vulnerability to future attacks. It is essential to report all cases, from minor to severe, to strengthen cybersecurity and institutional resilience.
Impact of Cybersecurity Attacks on Educational Institutions
Cybersecurity attacks on educational institutions lead to learning disruptions, financial losses, and data breaches. They also harm the institution's reputation and pose security risks to students. The following are the impacts of cybersecurity attacks on educational institutions:
📚Impact on the Learning Process: A report by the US Government Accountability Office (GAO) found that cyberattacks on school districts resulted in learning losses ranging from three days to three weeks, with recovery times taking between two to nine months.
💸Financial Loss: US schools reported financial losses ranging from $50,000 to $1 million due to expenses like hardware replacement and cybersecurity upgrades, with recovery taking an average of 2 to 9 months.
🔒Data Security Breaches: Cyberattacks exposed sensitive data, including grades, social security numbers, and bullying reports. Accidental breaches were often caused by staff, accounting for 21 out of 25 cases, while intentional breaches by students, comprising 27 out of 52 cases, frequently involved tampering with grades.
⚠️Data Security Breach: Cyberattacks on schools result in breaches of personal information, including grades and social security numbers, causing emotional, physical, and financial harm. These breaches can be intentional or accidental, with a US study showing staff responsible for most accidental breaches (21 out of 25) and students primarily behind intentional breaches (27 out of 52) to change grades.
🏫Impact on Institutional Reputation: Cyberattacks damaged the reputation of educational institutions, eroding trust among students, staff, and families. Negative media coverage and scrutiny impacted staff retention, student admissions, and overall credibility.
🛡️ Impact on Student Safety: Cyberattacks compromised student safety and privacy. For example, breaches like live-streaming school CCTV footage caused severe distress, negatively impacting students' sense of security and mental well-being.
CyberPeace Advisory:
CyberPeace emphasizes the importance of vigilance and proactive measures to address cybersecurity risks:
Develop effective incident response plans: Establish a clear and structured plan to quickly identify, respond to, and recover from cyber threats. Ensure that staff are well-trained and know their roles during an attack to minimize disruption and prevent further damage.
Implement access controls with role-based permissions: Restrict access to sensitive information based on individual roles within the institution. This ensures that only authorized personnel can access certain data, reducing the risk of unauthorized access or data breaches.
Regularly update software and conduct cybersecurity training: Keep all software and systems up-to-date with the latest security patches to close vulnerabilities. Provide ongoing cybersecurity awareness training for students and staff to equip them with the knowledge to prevent attacks, such as phishing.
Ensure regular and secure backups of critical data: Perform regular backups of essential data and store them securely in case of cyber incidents like ransomware. This ensures that, if data is compromised, it can be restored quickly, minimizing downtime.
Adopt multi-factor authentication (MFA): Enforce Multi-Factor Authentication(MFA) for accessing sensitive systems or information to strengthen security. MFA adds an extra layer of protection by requiring users to verify their identity through more than one method, such as a password and a one-time code.
Deploy anti-malware tools: Use advanced anti-malware software to detect, block, and remove malicious programs. This helps protect institutional systems from viruses, ransomware, and other forms of malware that can compromise data security.
Monitor networks using intrusion detection systems (IDS): Implement IDS to monitor network traffic and detect suspicious activity. By identifying threats in real time, institutions can respond quickly to prevent breaches and minimize potential damage.
Conduct penetration testing: Regularly conduct penetration testing to simulate cyberattacks and assess the security of institutional networks. This proactive approach helps identify vulnerabilities before they can be exploited by actual attackers.
Collaborate with cybersecurity firms: Partner with cybersecurity experts to benefit from specialized knowledge and advanced security solutions. Collaboration provides access to the latest technologies, threat intelligence, and best practices to enhance the institution's overall cybersecurity posture.
Share best practices across institutions: Create forums for collaboration among educational institutions to exchange knowledge and strategies for cybersecurity. Sharing successful practices helps build a collective defense against common threats and improves security across the education sector.
Conclusion:
The increasing cyber threats to Indian educational institutions demand immediate attention and action. With vulnerabilities like data breaches, botnet activities, and outdated infrastructure, institutions must prioritize effective cybersecurity measures. By adopting proactive strategies such as regular software updates, multi-factor authentication, and incident response plans, educational institutions can mitigate risks and safeguard sensitive data. Collaborative efforts, awareness, and investment in cybersecurity will be essential to creating a secure digital environment for academia.
Cybercrimes have been traversing peripheries and growing at a fast pace. Cybercrime is known to be an offensive action that either targets or operates through a computer, a computer network or a networked device, according to Kaspersky. In the “Era of globalisation” and a “Digitally coalesced world”, there has been an increase in International cybercrime. Cybercrime could be for personal or political objectives. Nevertheless, Cybercrime aims to sabotage networks for motives other than gain and be carried out either by organisations or individuals. Some of the cybercriminals have no national boundaries and are considered a global threat. They are likewise inordinately technically adept and operate avant-garde strategies.
The 2023 Global Risk Report points to exacerbating geopolitical apprehensions that have increased the advanced persistent threats (APTs), which are evolving globally as they are ubiquitous. Christine Lagarde, the president of the European Central Bank and former head of the International Monetary Fund (IMF), in 2020 cautioned that a cyber attack could lead to a severe economic predicament. Contemporary technologies and hazardous players have grown at an exceptional gait over the last few decades. Also, cybercrime has heightened on the agenda of nation-states, establishments and global organisations, as per the World Economic Forum (WEF).
The Role of the United Nations Ad Hoc Committee
In two shakes, the United Nations (UN) has a major initiative to develop a new and more inclusive approach to addressing cybercrime and is presently negotiating a new convention on cybercrime. The following convention seeks to enhance global collaboration in the combat against cybercrime. The UN has a central initiative to develop a unique and more inclusive strategy for addressing cybercrime. The UN passed resolution 74/247, which designated an open-ended ad hoc committee (AHC) in December 2019 entrusted with setting a broad global convention on countering the use of information and Communication Technologies (ICTs) for illicit pursuits.
The Cybercrime treaty, if adopted by the UN General Assembly (UNGA) would be the foremost imperative UN mechanism on a cyber point. The treaty could further become a crucial international legal framework for global collaboration on arraigning cyber criminals, precluding and investigating cybercrime. There have correspondingly been numerous other national and international measures to counter the criminal use of ICTs. However, the UN treaty is intended to tackle cybercrime and enhance partnership and coordination between states. The negotiations of the Ad Hoc Committee with the member states will be completed by early 2024 to further adopt the treaty during the UNGA in September 2024.
However, the following treaty is said to be complex. Some countries endorse a treaty that criminalises cyber-dependent offences and a comprehensive spectrum of cyber-enabled crimes. The proposals of Russia, Belarus, China, Nicaragua and Cuba have included highly controversial recommendations. Nevertheless, India has backed for criminalising crimes associated with ‘cyber terrorism’ and the suggestions of India to the UN Ad Hoc committee are in string with its regulatory strategy in the country. Similarly, the US, Japan, the UK, European Union (EU) member states and Australia want to include core cyber-dependent crimes.
Nonetheless, though a new treaty could become a practical instrument in the international step against cybercrime, it must conform to existing global agencies and networks that occupy similar areas. This convention will further supplement the "Budapest Cybercrime Convention" on cybercrime that materialised in the 1990s and was signed in Budapest in the year 2001.
Conclusion
According to Cyber Security Ventures, global cybercrime is expected to increase by 15 per cent per year over the next five years, reaching USD 10.5 trillion annually by 2025, up from USD 3 trillion in 2015. The UN cybercrime convention aims to be more global. That being the case, next-generation tools should have state-of-the-art technology to deal with new cyber crimes and cyber warfare. The global crevasse in nation-states due to cybercrime is beyond calculation. It could lead to a great cataclysm in the global economy and threaten the political interest of the countries on that account. It is crucial for global governments and international organisations. It is necessary to strengthen the collaboration between establishments (public and private) and law enforcement mechanisms. An “appropriately designed policy” is henceforward the need of the hour.
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