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Isha DM Report

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mann

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Disaster Management

Case Study Report

A.Y. 2024-25

Name Khushi, Isha, Bhumika, Sneha

Enrollment No. 399,385,384,411

Division-Batch B-Batch-1

B.Tech. in EngineeringSem: 5
Certificate
This is to certify that Mr./Ms. Enrollment
No: of B.Tech. in ____________ Engineering,
Semester 5 has satisfactory completed his/her report work of
Disaster Management during the regular term in academic year
______-_____ .

No. of Assignments Certified: /

Date of Submission:

Subject Teacher
Assistant Professor, Head, Dept. of Civil Engg.,
Dept. of Civil Engg., CGPIT, UTU
CGPIT, UTU

External Examiner
Case Study on Cyber Attack
1. Introduction of case

➢
The case of cyber attacks is an ongoing and evolving issue in the world today.
➢ In this particular context, the case revolves around the vulnerabilities and risks associated with
the rapid development of technology.
➢ A key example provided in the document is the Cosmos Bank Cyber Attack in Pune, where Rs
94 crore was siphoned off through cloned debit cards in just three days in 2018.
➢ This case represents the serious financial and operational risks posed by cybercriminals and
highlights how the banking sector is especially vulnerable due to its reliance on digital
transactions and global connectivity.

➢ Cybersecurity is increasingly vital as the world grows more interconnected.

➢ With digitalization affecting almost every aspect of human life, the security of data, networks,
and infrastructure has become critical.

➢ Cybersecurity aims to protect systems from theft, damage, and disruption.

➢ This awareness is not only important for businesses but also for individuals as they navigate an
increasingly digital world.
2. Discussion of the type of disaster

o
The disaster in focus here is a cybersecurity disaster, specifically a cyber attack.
• A cyber attack is any attempt to gain unauthorized access to computer systems, networks, or
devices to steal, manipulate, or damage data.
• This includes various malicious activities such as phishing, malware, ransomware, spoofing.

• In the case of Cosmos Bank, the cybercriminals executed a malware attack, which allowed
them to clone debit cards and siphon off massive amounts of money from ATMs across
several countries.
• These types of attacks expose the vulnerabilities in even well-established financial institutions
and show the potential for global disruptions caused by cyber incidents.
3. Geography / Geology / Topography of the area
o
Though cyber attacks are not bound by geographic constraints, the case of the Cosmos Bank
hack took place in Pune, India, and affected ATM systems across multiple countries, including
India and 28 others.
o This global scale of the attack highlights the borderless nature of cyber threats, emphasizing
that geography in the traditional sense is not a limiting factor in such cases.
o
o However, it is important to note that certain regions are more susceptible to cyber crimes
based on the level of digital infrastructure and cybersecurity maturity.
o Emerging economies with rapidly growing digital ecosystems, like India, are often prime
targets for cybercriminals due to inadequate security measures and increased digital footprints.

• However, it is important to note that certain regions are more susceptible to cyber crimes
based on the level of digital infrastructure and cybersecurity maturity.
• Emerging economies with rapidly growing digital ecosystems, like India, are often prime
targets for cybercriminals due to inadequate security measures and increased digital footprints.

4. Leading cause of disaster

o
4. Leading Cause of the Disaster

o The primary cause of cyber attacks, including the one at Cosmos Bank, is the exploitation of
vulnerabilities in digital systems. These vulnerabilities arise from several factors:

o Weak or stolen usernames and passwords

o Unpatched software and systems lacking the latest updates

o Absence of antivirus software

o Improper configuration of network firewalls and open ports

o Insider threats and poor access controls

o Social engineering attacks such as phishing and spoofing.

o In the Cosmos Bank case, the malware used allowed hackers to clone debit cards, which were
then used for transactions. The inability to secure systems at various levels – from endpoint
security to server-side monitoring – exacerbated the disaster.
5. Effect of disaster
o
The cyber attack on Cosmos Bank had severe financial repercussions, with the bank losing Rs
94 crore in a span of just a few days.
o It also caused widespread panic and loss of trust among customers.
o Cyber attacks like these do not just cause monetary loss but also harm the reputation of the
affected institution, leading to long-term financial and operational damage.

o Globally, cyber attacks have become a major concern for businesses and governments alike.
The increasing frequency and sophistication of these attacks show how essential cybersecurity
measures are for protecting sensitive data and financial systems.

6. Repair and rehabilitation / Remedial measures by the

governing body
o
In the wake of the Cosmos Bank attack, law enforcement agencies took immediate steps,
leading to several arrests. The Special Investigation Team (SIT) in Pune arrested multiple
individuals involved in executing the attack, and they were linked to ATM withdrawals in
several Indian cities. This was a coordinated effort to trace the funds and apprehend those
responsible.
o
o At the organizational level, banks and financial institutions need to adopt comprehensive
cybersecurity measures, such as:
o
o Upgrading security infrastructure to detect and mitigate malware attacks.
o Enforcing strict password policies and access control mechanisms.
o Regular audits and vulnerability testing to identify potential weak spots in systems.
o Raising awareness among employees to avoid social engineering attacks such as phishing and
7. Concluding remark / summary
o The Cosmos Bank cyber attack is a stark reminder of the vulnerabilities that persist in the
digital banking ecosystem. As digital transactions become the norm, the potential for cyber
attacks increases exponentially.
o Financial institutions must invest in robust cybersecurity measures, ensure regular updates and
audits, and raise awareness among employees and customers about the risks of cyber crime.