Secure Our World: Enhancing Your Cybersecurity Knowledge This October

As digital adoption surges in India, the risk of cyberattacks grows in tandem. With over 750 million internet users, the country has become a prime target for cybercriminals exploiting vulnerabilities in online systems and personal devices. To combat this rising threat, the Insurance Regulatory and Development Authority of India (IRDAI) has designated October as Cyber Jagrookta Diwas, a month dedicated to raising awareness about cybersecurity risks. The theme for 2024, “Secure Our World,” calls on individuals, especially insurance customers, to take proactive steps in safeguarding their personal data and financial information.

At PhonePe Insurance, we are committed to helping you stay secure in an increasingly digital insurance landscape. As services shift online, the potential for cyber threats rises, making it essential for policyholders to understand and mitigate risks. Here’s how you can protect yourself this Cybersecurity Awareness Month:

1. Phishing and Online Safety: Guard Against Fraudulent Activity

Phishing remains one of the most common cyber threats, where cybercriminals disguise fraudulent emails or messages as official communications from insurers or banks to deceive individuals into disclosing sensitive information. The Data Security Council of India (DSCI) reported in its India Cyber Threat Report 2023 that the country faced over 400 million cyber threats across 8.5 million endpoints, averaging 761 detections per minute. This statistic underscores the pressing need for improved online safety practices and stronger cybersecurity measures.

Phishing tactics often include fake links for policy renewals or updates, which can result in unauthorized payments and data theft. Additionally, fraudulent websites may capture sensitive information when users attempt to manage their insurance policies online.

Protect Yourself:

• Verify any suspicious communications directly with your insurance provider.
• Avoid clicking on unsolicited links or downloading attachments from unknown sources.
• Only use official insurance websites with URLs starting with “https://” for secure transactions.
• Be cautious when using public Wi-Fi for sensitive activities; instead, opt for a VPN for secure browsing.

2. Social Media Protection: Secure Your Information

In today’s hyperconnected world, oversharing on social media can lead to serious security risks. When you reveal personal details online—such as travel plans, birthdays, or insurance provider information—you inadvertently provide cybercriminals with valuable data that can be exploited. These criminals may use your information to make fraudulent insurance claims in your name or target you with scams and fake insurance offers.

Cybercriminals often use social media platforms to promote non-IRDAI-certified insurance policies, luring unsuspecting individuals with seemingly attractive offers that may ultimately lead to financial loss. 

Protect Yourself:

• Use strong, unique passwords and enable two-factor authentication for your insurance accounts.
• Review your social media privacy settings to limit who can view your posts, and be mindful about sharing personal details online—especially information related to your insurance policies, claims, or provider details. Avoid public mentions of your policy type, premiums, or renewal dates to minimize exposure to fraud.

3. Malware and Ransomware: Strengthen Your Digital Defenses

Ransomware and malware attacks are on the rise, with cybercriminals increasingly locking your data and demanding hefty payments for its release. A notable incident in 2023 involved a $68,000 ransom demand following a data breach at Star Health, demonstrating how such attacks can disrupt essential services, including your insurance claims processing, while also putting your sensitive information at risk.

Protect Yourself:

• Make it a habit to regularly update your devices with the latest security patches. This simple step helps protect you against known vulnerabilities that cybercriminals exploit.
• Be cautious about downloading files or clicking on links, even if they appear to come from trusted sources. If something seems suspicious, it’s better to double-check before proceeding.

4. Mobile Security: Stay Safe on the Go

As more individuals manage their insurance policies on mobile devices, the risk of mobile-targeted attacks increases. Phishing SMS (smishing) and fake apps are common ways cybercriminals target users on the go.

Protect Yourself:

• Download insurance apps only from trusted sources like Google Play or the Apple App Store.
• Be wary of unsolicited messages or apps requesting sensitive information or prompting you to click on suspicious links.

Key Takeaways

Cyber Jagrookta Diwas offers a timely reminder to strengthen your digital security practices. From guarding against phishing scams to protecting your data and mobile devices, awareness is your first line of defense. At PhonePe Insurance, we are dedicated to keeping you secure and insured in an ever-evolving digital landscape.

Remember, “Secure Our World” isn’t just a theme for this month—it’s a daily practice that can help you stay one step ahead of cybercriminals. Stay vigilant, stay informed, and most importantly, stay secure!