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According to AGCS, cyber risk is a major and fast-growing threat to businesses with cyber-crime alone costing the global economy approximately US$445 bn a year

Finland helps India with cybersecurityA Finnish cyber security company has sealed a memorandum of understanding with an Indian scientific institution in a bid to bolster cyber security for critical infrastructure such as supervisory control and data acquisition (SCADA) systems and smart-city initiatives.

Codenomicon Software signed the agreement with the Gujarat Forensic Science University to be able to train and raise a "cyber army" to combat "cyber terrrorism", according to a report in The Indian Express.

Codenomicon will supply its Defensics software to the cyber intelligence lab created at the university in August 2015, the largest cyber monitoring cell in India, reports the newspaper.

Commenting on the agreement, Mohinder Dahiya, deputy director of the Forensic Science Institute, said: “The MoU was signed for the development of the intel lab that will build cyber intelligence in the country by training officers and students.

"Our country needs to move in preparing defence against cyber warfare. In the second stage, SCADA would be developed at the lab, taking the cyber security level to the highest in the country.”

Exposing weak points in software

The intelligence lab, which will also train staff from India's central security agencies, will have a dual focus - checking software vulnerabilities and cyber monitoring.

Defensics works on fuzzing technology, a technique that exposes defects and vulnerabilities in software by sending inputs in the system, explained a professor at Gujarat Forensic Science University.

The source said: “When software and websites are made, even the developers cannot identify the hidden threats where the hackers take advantage of attacks. The unknown bugs in the system are called vulnerabilities. Defensics helps us identify such vulnerabilities.”

He added: “There are several company websites, software, government pages that are under threat of cyber attack. The bugs are also created to leak or keep tabs or destroy a system containing details of national security.

"The terrorists are now increasingly using these techniques to attack India.”