Many have used the CrowdStrike outage to point to the power and interconnectedness of big tech. In India, the outage stoked Indian distrust of Western tech companies, a debate over Indian tech nationalism and a broader movement for Make in India - the government's push for local solutions.
In its annual fraud report released last week, the Reserve Bank of India sent an urgent warning to Indian banks to enhance scam controls and improve money mule management. The report highlights a significant surge in fraud cases on the Unified Payments Interface in India.
India and Singapore made it easier and cheaper for their citizens to send and receive money through the integration of UPI and PayNow, but could this move lead to a rise in cross-border online payment scams? Reports of UPI-related fraud surged in India in 2022.
Payments companies must secure their APIs and enhance their authentication standards in line with The Reserve Bank of India's guidelines to make QR codes interoperable and boost the electronic payments ecosystem.
In an effort to ramp up the fight against fraud, the Reserve Bank of India next year will launch a "Positive Pay" system of verifying information about checks with a value at $700 or more. Bank CISOs face the big task of securing the huge new flow of data.
The "zero trust" model can play a critical role in mitigating emerging threats. That's why Information Security Media Group will host on July 27 a virtual cybersecurity summit for India on applying the model.
As CISOs in India scramble to deal with challenges related to the COVID-19 crisis, they're discovering effective strategies. For example, they're adopting the "zero trust" model for the remote workforce and devising ways to deal with the security issues raised by "shadow IT" and "free software."
Nation-state attacks. SOC automation. Zero trust. Protection of critical infrastructure. These were some of the key themes that discussed at Information Security Media Group's recent Cybersecurity Summit in Delhi.
To help security practitioners address their cybersecurity challenges, ISMG is hosting a Cybersecurity Summit on Nov. 21 in Mumbai, best practices in tackling cybersecurity issues. Among the speakers: Loknatha Behera, Kerala's state police chief, and former Supreme Court Justice B. N. Srikrishna.
India may soon have a single authority or agency responsible for the entire spectrum of cyber defensive operations. This is a good step that was long overdue. But the real test lies in actual implementation of the plan.
To enhance data security, it's time for the Indian government to stop talking about requiring data localization and spell out - and enforce - tough requirements.
Delayed enforcement of the "strong customer authentication" requirements for online transactions under the European Union's PSD2 regulation is hampering efforts to enhance security. That's why the European Banking Authority should act quickly to develop a new timeline.
Rear Admiral Mohit Gupta, who was recently appointed chief of India's new Defense Cyber Agency, has made a series of recommendations for top action-items. But will the government actually carry out his priorities?
The government of India has formed a committee of experts that will recommend policies on who can use the large amount of data generated from "smart city" projects and for what purposes. What key privacy issues must be addressed?
The Securities Exchange Board of India has come out with new cybersecurity guidelines for the commodities market. But the recommendations either rehash earlier guidelines or offer vague details on implementation.
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