Tamil Nadu’s Cyber Financial Fraud Losses Serve
Tamil Nadu’s Cyber Financial Fraud Lo sses Serve As A Wake-Up Call to Empo wer
Tamil Nadu’s Cyber Financial Fraud Lo sses Serve As A Wake-Up Call to Empo wwer Citizens with Technology Withou t Compromising Their Security
says Dr. Palanivel Thiaga Rajan, Minist er of IT and Digital Services, Governm ent of Tamil Nadu, At AVAR 2024
Dr. Palanivel Thiaga Rajan, Minister of IT and Digital Services, Government of Tamil Nadu, inaugurated AVAR 2024, t he 27th edition of AVAR’s Global Cyber Security Summits, bringing together o ver 250+ cyber security experts and tec hnology leaders to share critical insig hts on evolving cyber threats and defe nses.
With the theme ‘The Battle for Cyber S upremacy’ the inaugural session also witnessed Lt. General (Dr.) Rajesh Pant, Former National Cyber Security Co ordinator for the Government of India and Chairman of the Cyber Security As sociation of India, and Mr. Kumar Jay ant, IAS, Additional Chief Secretary, I nformation Technology and Digital Se rvices Department, Government of Ta mil Nadu, sharing insights into the cy ber technology landscape.
Chennai, 5th December 2024: With Ta mil Nadu’s cyber financial fraud losses surpassing an estimated ₹1,100 crore b etween January and September 2024, there is a greater need than ever befor e to build resilient tech infrastructure by leveraging AI, stated Thiru Dr. Pala nivel Thiaga Rajan, Minister of IT and Digital Services, Government of Tamil Nadu, at AVAR 2024, the 27th edition of AVAR’s global cyber security conferenc es, which took place in the city today. Addressing a large gathering of cyber security experts and global tech lead ers, Thiru. Dr. Palanivel Thiaga Rajan further emphasized the need for colla borative governance by promoting par tnerships between the Public Sector, Private Enterprise, and International Allies, during his inaugural address at the conference.
The 27th edition of AVAR’s summits, th emed The Battle for Cyber Supremac y, is set to take place today and tomorro w with over 400 participants including CXOs, regulators, and law enforcemen t officials along with renowned speake rs representing industry leaders such as Kaspersky, Google, and Zoho, partic ipating in 40+ engaging sessions. These sessions will highlight breakthroughs in cyber threat analysis and explore to pics such as Android malware for una uthorized ATM withdrawals, Generat ive AI for Revolutionizing Malware An alysis, Cyber Attacks in Asia, the Futur e of Cybercrime, Supply Chain Securit y Architecture, Cyber Defense Strateg ies in the Digital Era, Healthcare Cyber Attacks, and many more.
As part of his inaugural address, Thiru Dr. Palanivel Thiaga Rajan, Minister of IT and Digital Services, Government of Tamil Nadu, said, “Conferences like AV AR 2024 are pivotal events. They provi de a platform to share knowledge, exc hange best practices, and build a unit ed global front against cyber threats. I commend AVAR for its steadfast dedic ation to this mission over the past 26 y ears and for bringing the world’s finest minds in cyber security to Chennai thi s year.”
He further added, “In today’s intercon nected world, cyber security is not just a technical concern but a fundamental pillar of national security, economic st ability, and societal trust. According to IBM’s 2024 Cost of Data Breach Report, the global average cost of a data brea ch has risen to $5 million, a 10% incre ase from the previous year. India ran ks third globally in cyber attacks, with the average breach cost exceeding $2.3 million. In Tamil Nadu, cyber financial fraud losses surpassed ₹1,100 crore be tween January and September 2024. Th ese figures serve as a wake-up call. To address these challenges, Tamil Nadu launched its Cybersecurity Policy 2.0 recently, focusing on building resilient infrastructure by leveraging AI to red uce the average breach cost to over $2 million; capacity-building by establish ing a cyber security training center; an d collaborative governance with publi c-private partnerships. With the state spearheading projects such as Blockch ain Backbone – Nambikkai Inaiyam ai med at ensuring that technology empo wers every citizen without compromi sing their security, Tamil Nadu is com mitted to prioritizing digital safety wh ile fostering a conducive environment for innovation.”
Highlighting the growing importance of cyber security, Mr. Kesavardhanan J, CEO of AVAR and Founder & CEO of K7 Computing, said, “This year’s them e, The Battle for Cyber Supremacy, was selected owing to the growing recognit ion of cyberspace as the 5th domain of warfare that has evolved to become a critical arena in global conflict, and in cludes national security, policy, and str ategy. In our industry, we face a consta nt battle against highly skilled and res ourceful adversaries. With technology equally accessible to both sides, the pl aying field is leveled and battles are in tense. Conferences like AVAR 2024 ser ve as a platform to exchange vital res earch information in cyberspace, hel ping cyber security professionals reign supreme.”
Adding to this, Lt. General (Dr.) Rajesh Pant, Former National Cyber Security Coordinator for the Government of In dia and Chairman of the Cyber Secur i ty Association of India, highlighted the pressing challenges posed by the 6th g eneration of cyber attacks during his presentation. He remarked, “In today’s rapidly advancing technological lands cape, cyber security has become an AI v/s AI battle with artificial intelligence continuously evolving. As sophisticate d threats like zero-day attacks grow in frequency and complexity, adopting ro bust frameworks such as MITRE ATTA CK is critical. These measures, driven by AI-powered strategies, enable proac tive detection and mitigation, ensuring a resilient defense against emerging cyber threats.”
Similarly, Mr. Kumar Jayant, IAS, Addi tional Chief Secretary, Information Te chnology and Digital Services Departm ent, Government of Tamil Nadu, said, “India is continuously battling cyber a ttacks, supported by trained professio nals and dedicated state-sponsored te ams assessing vulnerabilities in gover nment infrastructure. With the recen tly launched Cybersecurity Policy 2.0, we are building stronger teams and tr aining developers to handle cyber sec urity more effectively. Scammers, mea nwhile, use psychologically compelling tactics that are difficult to resist once engaged, making it crucial to disconne ect at the first sign of suspicion. At this same time, addressing issues like frag mented access controls and password management remains critical, as does creating awareness about sophisticate ed scams. Addressing these challenges through awareness, streamlined syste ms, and consistent frameworks is vital to enhancing cyber security and gover nance, and the Tamil Nadu governmen t is working towards it.”AVAR 2024 will also celebrate excellence in Indian cyb er security with the prestigious CISO Anwards, recognizing trailblazing con tributions across five categories spann ing the enterprise spectrum. This ackn nowledgment of regional leaders will f urther emphasize India’s ability to dri ve impactful cyber security advance ments on a global scale.
About AVAR – AVAR (the Association of anti Virus Asia Researchers) was form ed in June 1998 with a mission to preve nt the spread of malware and the dam age caused by it. AVAR aims to do this by developing cooperative relationshi ps among cyber threat experts in Asia. AVAR is an independent and non-profit organization which focuses on the Asia Pacific region and consists of promine nt experts from 17 territories includin g Australia, China, Hong Kong, India, Is rael, Japan, Korea, Philippines, Singap ore, Taiwan, UK, and the USA.
