Cyberespionage group Suckfly attacked financial institutions, IT firms and government organizations with the intent to affect the Indian economy: Symantec: An illustration picture shows a projection of binary code on a man holding a laptop computer, in an office in Warsaw June 24, 2013Reuters

Cybercrime is something to be actively feared, provided one would like to maintain their privacy and identity. According to a report published by cybersecurity company Symantec, an advanced cyberespionage group reportedly called Suckfly has been launching attacks on high-profile commercial and government institutions in India.

The Symantec report added that one of the government organisations is responsible for implementing network software for different ministries, which could have put key information related to the network infrastructure it has set up in the hands of hackers. The report also said the government agencies Suckfly targeted showed the highest infection rates.

According to Symantec, Suckfly's other key targets were a major financial institution, one of India's largest e-commerce companies, a major Indian shipping company and an IT firm that provides support for India's largest stock exchange, which, it can be assumed, is the BSE.

Symantec believes that by targeting these institutions, Suckfly intended to majorly impact the Indian economy, adding that each of these institutions have the power to affect other players in their respective sectors.

The report noted that 32 percent of the group's attacks targeted government institutions, 29 percent technology firms, 14 percent e-commerce groups and financial institutions each, 7 percent shipping and 4 percent healthcare institutions.

Suckfly reportedly has the resources to develop malware, purchase infrastructure, and conduct targeted attacks for years while staying off the radar of security organisations. It has also reportedly conducted similar attacks on organisations in Saudi Arabia.

Quick Links