1. The vision of tapping the potential of India’s massive digital transformation must be balanced with a strategy to counter the associated security threats. Elucidate. (10 Marks)
Candidates need to write about the digital transformation in India and with increased digital penetration write about the associated threats and suggest strategy to tackle such threats.
Introduction
Towards vision of tapping the digital transformation, India already is the 2nd largest online market worldwide. Although the advancement of technology and the internet has brought with it all related benefits but has also led to an increase in the cybercrime affecting and vulnerability of India to cyber-crime threats is more.
Body
Threats with digital transformation:
Low end use digital financial education: With limited awareness about digital financial service, person is always vulnerable to external threats.
Phishing: is the fraudulent attempt to obtain sensitive information such as usernames, and passwords.
Cyber terrorism: premeditated, politically motivated attack against information, computer systems and data which results in violence.
Pishing/Social engineering: Vishing works like phishing but does not always occur over the Internet and is carried out using voice technology.
Hacking: Hackers intrude into others financial domains and make financial transactions into their digital accounts.
Cyber Ransom: Ransomware is a form of malware that encrypts a victim’s files. The attacker then demands a ransom from the victim to restore access to the data upon payment.
Ineffective firewall system: This can be ineffective in tackling the virus/corrupt files with an intent to collect crucial information.
DDoS Attack: It is a malicious attempt to disrupt normal traffic of a targeted server, service or network by overwhelming the target or its surrounding infrastructure.
Unregulated Cryptocurrency: Any cyber-attack (Crypto-Jacking) on such financial transactions can be a potential threat with no regulations available.
Strategy to counter the security threats:
R&D: Investments should be made on R&D to develop more innovative technologies to address increasing cyber security threats.
Awareness: A periodic awareness campaign by the government and big private organizations should be conducted to aware people about cyber security threats.
Strengthening Private Partnership: It is important to strengthen the public- private partnership on cyber security.
Policy and Governance: Further, duties and responsibilities should be defined clearly for smooth functioning and better coordination among departments and stakeholders.
India should become signatory to cybercrime convention (Budapest Convention) which puts a hurdle in dealing with transborder crime particularly.
Conclusion
With estimates of India creating $1 trillion of economic value from the digital economy by 2025. India should not loose on the cyber-attack front. Government and the private sector jointly have to give cyber security some priority in their security and risk management plan.
