Experts On Mitigating Frequent Ransomware Attacks

Due to ransomware attacks, 300 Indian banks operating in the small cities have had their operations disrupted and eventually, they had to close down temporarily, reported a media agency. 

This is not the first case that happened in India when the integrity of the cyber ambit was compromised. According to the data of the Data Security Council of India (DSCI), Over 400 million detections across approximately 8.5 million Endpoints averaging 761 detections per minute. 

Telangana (15 per cent) and Tamil Nadu (14 per cent)  are the top states regarding malware detection. These two states also consist of prominent cities that have clusters of IT companies, whose data must be crucial for the country’s economic elevation. 

In the fast-paced and ever-evolving world of digital security, enterprise resource planning (ERP) solutions have become a cornerstone for protecting critical industries against cyber threats. 

Pavan Navandar, a leading cybersecurity expert, has been instrumental in advancing ERP security solutions for major US S&P 500 companies, including industry giants like Johnson & Johnson, AbbVie, Hewlett-Packard, and PSEG Utilities. 

Over these cyberattacks, Navandar worked on the solution and said, “ I have created custom tools and scripts to enhance efficiency and automate security solutions that reduce manual errors and save substantial costs for the companies involved. 

By analysing existing solutions and identifying potential risks, he has provided these corporations with the necessary controls to mitigate fraudulent activities.

While, Shreyas Kumar, a Professor of Computer Science at Texas A&M University, College Station, and a visiting Professor of Cybersecurity at IIT Roorkee, said, “The ransomware attack on C-Edge Technologies underscores the critical need for robust cybersecurity measures in financial technology services. This incident highlights vulnerabilities in interconnected banking systems and the potential for widespread disruption. Isolating C-Edge from the retail payments system, as executed by the National Payment Corporation of India (NPCI), is a necessary immediate response.”

The frequency and number of these cyberattacks are huge but that does not mean the authorities are not working in this direction. Multiple government initiatives like Cyber Surakshit Bharat together with the National Electronic Governance Division (NeGD) has brought in that aim to strengthen the cyber security ecosystem. 

There are many other such partnerships of public and private sector entities are working to resist these data incursions. These activities also imply the pivotal role of private companies and experts who have closely monitored these issues and studied them. 

One of Navandar’s most impactful projects includes developing workflow solutions and automated approval processes for user access management. Previously, creating new user accounts and assigning access rights involved manual procedures prone to errors and inefficiencies.

Further detailing his work, Navandar said that in his innovative solution requires users to select their roles and job titles, granting access strictly according to their responsibilities after a comprehensive risk analysis. This approach has effectively eliminated segregation of duties (SOD) conflicts, ensuring a secure and compliant access management process.

Many organisations were initially unaware of the potential risks and financial losses associated with inadequate access controls. Navandar’s efforts in educating and guiding these companies have resulted in the successful implementation of robust security frameworks, preventing fraudulent activities and major financial losses.

Cybersecurity solutions protect critical infrastructure, such as power grids, transportation systems, and financial institutions, from cyber threats that could have national security implications. These solutions are vital in today’s digital world because they help protect sensitive information, ensure the privacy and integrity of data, maintain the trust of users and customers, and support the smooth functioning of businesses and critical infrastructure.