Ransomware WannaCry to attack Indian banking system soon: Cyber expert

Since the global attack was launched on Friday, several thousand more computers were discovered to be infected, particularly in Asia as the work day began on Monday.

Financial Tribune reported two days ago some 200 computers in the country were infected by the so-called “ransomware” software.

There are a number of tools publicly available to limit the spread and the impact of further cyber security attacks.

Why is India vulnerable to ransomware attack?

“It would be deeply troubling if the NSA knew about this vulnerability but failed to disclose it to Microsoft until after it was stolen”, said Patrick Toomey, a lawyer working for the American Civil Liberties Union. They demanded $300 in virtual currency Bitcoin for accessing user files. “As cybercriminals become more sophisticated, there is simply no way for customers to protect themselves against threats unless they update their systems”.

You can also set your computer’s preferences so that your computer checks for updates more often.

Most automated teller machines (ATMs) were running fine, there could be some which may not have updated Microsoft’s Windows operating system, sources said. It was benign because it contained a flaw that prevented it from taking over computers and demanding ransom to unlock files but other more malicious ones will likely pop up.

The major attack that was spreading all over the world was actually thwarted by a 22-year-old researcher, simply by spending a tenner. It’s also possible, according to ProofPoint, that the attackers didn’t mean to release the malware this soon, or this broadly, and were just as surprised at its rapid spread as everyone else.

One of the key elements to a successful ransomware attack is the use of social engineering to trick victims into downloading infected files in dubious emails.

“NSA should be embarrassed – they’ve had a lot of damaging leaks”, said James Lewis, a former USA official who is now a cyber expert at the Center for Strategic and International Studies.

The WannaCry attack took over computer systems, caused them to freeze, and displayed the message, “Oops, your files have been encrypted!” They say it will continue to spread in a modified form. But Cyberdome warns that there are chances for a more risky attack. Most of the federal agencies have completely stopped the use of Microsoft XP.

The worm exploits a Windows defenselessness that Microsoft released a security fix in March and PCs that hadn’t refreshed were still at hazard. Now, the Navy is shifting towards the use of Windows 10.

Experts suspect that the next wave of attacks will be subjected to the banking sector.

In Japan, almost 600 companies, including electronics major Hitachi and automaker Nissan, were reportedly affected by the global ransomware attack, officials confirmed on Monday.