What’s Your New Year's Resolution?
2025 is knocking firmly at our door and we have promises to make and resolutions to keep. Time you make your list for the New Year and check it twice.
- Lifestyle targets 🡪 Check
- Family targets 🡪 Check
- Social targets 🡪 Check
Umm, so far so good, but what about your cybersecurity targets for the year? Hey, you look confused and concerned. Wait a minute, you do not have one, do you?
I get it. Though the digital world still puzzles, and sometimes outright scares us, we still are not in the ‘Take-Charge-Of-Your-Digital-Safety Mode. We prefer to depend on whatever software security we are using and keep our fingers crossed that the bad guys (read threat actors) do not find us.
Let me illustrate why cybersecurity should be one of your top priorities. You know that stress is a major threat to our continued good health, right? However, if your devices, social media accounts, office e-mail or network, or God forbid, bank accounts become compromised, would that not cause stress? Think about it and the probable repercussions and you will comprehend why I am harping on prioritising security.
Fret not. We will keep it brief as we well know you have 101 things to do in the next few days leading up to 01/01/2025. Just add cyber health to the list and put in motion the following:
- Install and activate comprehensive security software on ALL internet-enabled devices you have at home. Yes, including your smartphones.
- Set yourself a date to change and create separate unique passwords for all accounts. Or use the password manager that comes with all reputed security software to make life simpler.
- Keep home Wi-Fi turned off at night
- Do not set social media accounts to auto-download photos/documents
- Activate parental controls on all the devices used by your children to monitor and mentor them. But keep them apprised.
- Do not blindly trust anyone or anything online – this includes videos, speeches, emails, voice calls, and video calls. Be aware of fakes.
- Be aware of the latest threats and talk about unsafe cyber practices and behaviour often at home.
Short and sweet, as promised.
We will be back, with more tips, and answers to your queries. Drop us a line anytime, and we will be happy to resolve your doubts.
Ciao!
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Introduction
India’s digital growth journey has been moving at a tremendous pace. According to MeitY’s report, India’s digital economy is expected to rise to US$ 500 billion by 2025, up from US$ 200 billion in 2019. The digitisation drive that we are experiencing is likely to foster and boost a favourable business environment that will attract rapid investment and augment economic growth across sectors. This will, in turn, compel businesses to adopt digital platforms as solutions to meet customer expectations. Due to accelerated digitisation, cyber risks often deter business growth. Cybercrimes are becoming more rampant and complex and the costs associated with such breaches are not only increasing but also becoming more systemic.
Development of the Cyber Insurance Landscape
Digitization of businesses started in the 1980s with the use of mainframes. Personal computers entered the game and further modified the landscape from the 2000s along with LANs, the internet and the dot-com boom of the 2000s. In the late 1990s, cyber-insurance was developed as a risk management tool to ensure information security. Coverage was limited, and clients included SMEs in need of insurance to qualify for tenders, or community banks too small to hedge the risks of their online banking operations. The first cyber insurance policy was written in 1997 through AIG, against hacking as a third-party liability policy.
The current trends in the cyber insurance space are focused on the prevention of cyber risks, which by nature are hard to outline and constantly evolving. The result is that the buyers have limited clarity on the types of cyber risks covered under cyber insurance, and even lesser visibility on the scope and amount of optimum coverage. Unfamiliarity with the claim procedure and resolutions, ambiguous claim thresholds during settlements, and confusion around exclusions and coverage of regulatory fines and penalties under a purchased scheme further discourage potential buyers from seriously investing in cyber insurance products.
Key Factors in Cyber Insurance Evolution and Its Role in Risk Management
The cyber insurance market in India has three key influencing factors, namely the speed of achieving digital maturity, government initiatives to digitise and enforce stringent cyber laws, and the evolving landscape with technology giants and MNCs entering the cyber insurance domain. The latter are the catalyst for intensifying competition in this market.
Advancements in technology in terms of AI, machine learning, big data, robotics, blockchain, augmented and virtual reality, and IoT are expected to reshape the insurance industry and help reach untapped audiences in a more digital-forward manner. With the absence of a standard cyber insurance policy, regulators need to take the following variables into consideration while developing cyber insurance policies: the risk insured against, the scope of the loss covered and the limits/ sub-limits.
Challenges
With the complexity of cyber risks increasing exponentially the challenges to counter the same are growing too which is leading to gaps in the coverage offered for cyber threats. Resultantly, the compliance regulations are dependent on the risks which exist and cyber threat actors adopt new technologies faster and exploit them to their benefit. A lack of historical data and predictability in future cyber risks, the possibility of large overwhelming loss events, uncertainties among market participants about what is specifically covered under such policies, and legal battles over fundamental issues are some of the challenges identified.
Future Outlook/ Recommendations
India's cyber infrastructure requires a multi-faceted approach that involves collaboration between government, industry, and academia should be developed. Some recommendations are:
- Risk assessments should be a general practice and the cyber insurance policies should be simplified, clearing the mismatch between the premium paid and insurance coverage and there should be standard verbosity across cyber policy language.
- Promoting R&D tailored to India focused on education programs that have public-private partnerships and global collaborations to share threat intelligence, best practices, and expertise in critical infrastructure protection.
- Cyber insurance can also be promoted as compliance with the DPDP Act, which would lead to better development of cyber infrastructure and cyber hygiene practices.
- Regular updates to cyber insurance policies to ensure relevance and effectiveness. Insurers could create and offer holistic cyber insurance risk management plans.
Conclusion
According to a report by Deloitte in 2023, the cyber insurance market in India is expected to grow by 27-30 per cent in the coming years and it is currently valued at USD 50-60 million, while maintaining a steady 27-30 per cent CAGR in the past three years. The Indian cyber infrastructure’s nature is challenging, however, it offers opportunities for growth, innovation, and collaboration. A proactive approach, supported by robust policies, advanced technologies, and skilled professionals, will be essential to building a resilient cyber infrastructure capable of withstanding evolving threats.
Reference
- https://www2.deloitte.com/content/dam/Deloitte/nl/Documents/financial-services/deloitte-nl-fsi-demystifying-cyber-insurance-coverage-report.pdf
- https://www.dnaindia.com/business/report-what-s-cyber-liablity-insurance-and-why-you-may-need-it-2136556
- https://economictimes.indiatimes.com/industry/banking/finance/insure/cyber-insurance-gains-momentum-in-india-set-to-witness-exponential-growth-deloitte/articleshow/104189297.cms?from=mdr

Introduction
India & Bangladesh have adopted proactive approaches, focusing on advancing cyber capacity building in the region. Bangladeshi and Indian cybersecurity experts have emphasised the importance of continuous technology training to protect the digital space from growing cyber-attacks and threats. They call for greater collaboration to share knowledge and expertise in cyber resilience, network vulnerability, and cyber risk assessment. The Cyber-Maitree 2023 event held in Dhaka aimed to enrich and build capacity to counter cyber-attacks and threats. The senior director of India's Computer Emergency Response Team acknowledged the growing dependence on cyberspace and the need for increased preparedness as critical infrastructures, energy systems, banks, and utilities are connected to the internet. Recently, Bangladesh Cyber Security Summit 2024, organised by Grameenphone, was held in Dhaka on March 5th, 2024. Such collaborative dialogues between the countries serve as a shining example of cooperation between the governments of Bangladesh and India, serving as a platform for knowledge sharing, capacity building, and international cooperation in cyber security.
Cyber Maitree held in 2023
In 2023, India and Bangladesh held 'Cyber Maitree 2023', an initiative hosted by the ICT Division of the Bangladeshi Government, to address cybersecurity challenges in a rapidly globalising world characterised by digitisation. The event, which translates to "Cyber Friendship," was an interface for cybersecurity experts and aspirants from both nations, creating an avenue for extensive training, practical exercises, and a dynamic exchange of information. We need to emphasise the importance of bolstering digital safety as both nations grapple with the rapid digitisation of the world.
India-Bangladesh joint efforts aim to fortify cyber resilience, pinpoint potential network vulnerabilities, bolster rigorous risk assessments, and illuminate the landscape of cyber threats. It encompasses various sectors, including cybersecurity, artificial intelligence, ICT, and IT-driven human resource expansion. The growing camaraderie between India and Bangladesh has been evident through strategic engagements, such as the India-Bangladesh Startup Bridge and the establishment of 12 High Tech Parks in Bangladesh.
Highlights of the India-Bangladesh MoUs for Cyber Security Cooperation
In 2017, India and Bangladesh signed a Memorandum of Understanding (MoU) focused on cyber security cooperation.
In 2022, Both nations crafted a Memorandum of Understanding (MoU), highlighting collaboration in spheres such as e-governance, e-public service delivery, research, and development. A separate agreement was also inked focusing on mutual information sharing pertaining to cyber-attacks and incidents. The first MoU aims to provide a framework for training Bangladesh Railway employees at Indian Railways' training institutes, including field visits. The Indian Railways will coordinate with officials from the Ministry of Railways, Government of Bangladesh to improve training facilities in Bangladesh. The second MoU focuses on collaboration in IT systems, for the Bangladesh Railway. The Ministry of Railway, Government of India, will offer IT solutions for passenger ticketing, freight operations, train inquiry systems, asset management digitisation, HR and finance infrastructure. The MoUs aim to strengthen the friendship bond between India and Bangladesh and promote friendly cooperation in the railway sector.
Way Ahead
Zunaid Ahmed Palak, State Minister for Posts, Telecom and ICT, Bangladesh, has announced that Bangladesh and India will collaborate to ensure the safety of the cyber world. The two countries are expected to sign a final agreement within the next three to six months. He stressed the importance of attracting investments in the postal, telecommunication, and IT sectors. He also highlighted the strong ties between Bangladesh and India. He also announced that 12 high-tech parks will be constructed in Bangladesh with an Indian Line of Credit, starting operation by 2025. He further referred to the Indian Cyber Emergency Response Team (CERT), and said "We are very much enthusiastic in fighting against the cyber attacks and crimes as the team is now working with us".
Bangladesh Cyber Security Summit 2024
The Bangladesh Cyber Security Summit 2024, organised by Grameenphone, was held in Dhaka on 5th March 2024, focusing on cybersecurity issues and opportunities, fostering collaboration between government, private organisations, industry experts, and sponsors investing in Bangladesh's digital future.
Conclusion
India and Bangladesh share a common vision for a secure digital future, focusing on cybersecurity collaboration to safeguard shared aspirations and empower nations to thrive in the digital age. We must emphasise the need to fortify digital defenses, leveraging expertise, innovation, and collaboration to secure interconnected futures. Collaborative relations in Information and Communication Technology and Cyber Security will strengthen digital defense and establish cyber resilience.
References:
- https://caribbeannewsglobal.com/bangladesh-and-india-call-for-more-cyber-security-training/?amp=1
- https://www.indianewsnetwork.com/en/20231005/bangladesh-and-india-strengthen-ties-through-cyber-maitree-2023
- https://www.bssnews.net/news-flash/150763
- https://digibanglatech.news/english/bangladesh-english/125439/
- https://www.mea.gov.in/Portal/LegalTreatiesDoc/BG17B3024.pdf
- https://digibanglatech.news/english/bangladesh-english/125439/
- https://www.tbsnews.net/tech/ict/bangladesh-india-work-together-cyber-security-palak-712182

Executive Summary:
Several videos claiming to show bizarre, mutated animals with features such as seal's body and cow's head have gone viral on social media. Upon thorough investigation, these claims were debunked and found to be false. No credible source of such creatures was found and closer examination revealed anomalies typical of AI-generated content, such as unnatural leg movements, unnatural head movements and joined shoes of spectators. AI material detectors confirmed the artificial nature of these videos. Further, digital creators were found posting similar fabricated videos. Thus, these viral videos are conclusively identified as AI-generated and not real depictions of mutated animals.

Claims:
Viral videos show sea creatures with the head of a cow and the head of a Tiger.



Fact Check:
On receiving several videos of bizarre mutated animals, we searched for credible sources that have been covered in the news but found none. We then thoroughly watched the video and found certain anomalies that are generally seen in AI manipulated images.



Taking a cue from this, we checked all the videos in the AI video detection tool named TrueMedia, The detection tool found the audio of the video to be AI-generated. We divided the video into keyframes, the detection found the depicting image to be AI-generated.


In the same way, we investigated the second video. We analyzed the video and then divided the video into keyframes and analyzed it with an AI-Detection tool named True Media.

It was found to be suspicious and so we analyzed the frame of the video.

The detection tool found it to be AI-generated, so we are certain with the fact that the video is AI manipulated. We analyzed the final third video and found it to be suspicious by the detection tool.


The detection tool found the frame of the video to be A.I. manipulated from which it is certain that the video is A.I. manipulated. Hence, the claim made in all the 3 videos is misleading and fake.
Conclusion:
The viral videos claiming to show mutated animals with features like seal's body and cow's head are AI-generated and not real. A thorough investigation by the CyberPeace Research Team found multiple anomalies in AI-generated content and AI-content detectors confirmed the manipulation of A.I. fabrication. Therefore, the claims made in these videos are false.
- Claim: Viral videos show sea creatures with the head of a cow, the head of a Tiger, head of a bull.
- Claimed on: YouTube
- Fact Check: Fake & Misleading