'What we are actually missing in India is a platform wherein the government engages with cybersecurity experts, gets them employed and then utilises their capability to deter such attacks.'
'If Pakistan's army wants to escalate violence in Kashmir, they have an unlimited supply of jihadis they can train and send. That's not an issue for them.'
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday said the central bank has developed an innovative artificial intelligence and machine learning (AI/ML) based model MuleHunter.ai to address the growing issue of mule bank accounts that are often used for committing financial fraud. Developed by the Reserve Bank Innovation Hub, the new initiative is piloted with two public sector banks.
The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At Rs 1.5 trillion, operating profit grew by 14.4 per cent year-on-year (Y-o-Y) while the net profit saw an impressive 25.6 per cent jump at Rs 85,520 crore in the first half of FY25.
On Tuesday, the AIIMS also issued a statement that the e-hospital data has been restored.
Traditionally, financial institutions have operated risk functions in silos. However, the nature of unknown threats today requires industry participants to work together, says Vikram Limaye.
Defence Minister Rajnath Singh announced that India's defence exports have crossed a record Rs 21,000 crore, a significant jump from Rs 2,000 crore a decade ago. He set a target of achieving defence exports of Rs 50,000 crore by 2029. Singh highlighted the importance of mastering frontier technologies in the face of evolving warfare, emphasizing the role of military training centers in preparing soldiers for future challenges. He also underscored the government's commitment to strengthening integration and jointness among the three services, aiming to enhance the armed forces' ability to face challenges together.
He said the aim has been to create firewalls to deal with the cyber attacks and that the issue is being addressed in a "serious way".
The recent report in the New York Times that China had brought India's financial capital - Mumbai - to a halt by hacking the electricity supply grid has not come as a surprise to the CTOs (chief technology officers) and cyber security experts. Indian companies, including critical infrastructure providers such as power grids, ports and radar systems, lack the IT infrastructure to prevent hacking from hostile state actors like China and North Korea, warn security experts. Recently, the United States government warned of yet another breach of critical systems tied to Microsoft Exchange email systems that the company has blamed on China. The breach has impacted thousands of organisations in the US and its impact on India is still unknown.
The police received over 500 complaints alleging that many social media influencers and YouTubers promoted the HIBOX mobile application on their pages and lured people into investing through the app, the officer said.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
Ahead of the upcoming Durga Puja festival, Bangladesh authorities have assured of increased security measures that have been put in place amid concerns of violence targeting minority Hindu communities.
"Most worrisome are China's technological advances in the spheres of cyber and space domain, which often transcend beyond the military, to include critical national infrastructure as well," General Bipin Rawat said at the three-day Indian Air Force Conclave.
Nearly 80 domestic and international flights received bomb threats in less than 24 hours that later turned out to be hoaxes, keeping thousands of passengers and security agencies on tenterhooks.
Naval assets take years to build, and therefore, not only is futuristic force planning essential, but indigenous projects must also be put into the pipeline, technologies developed and contracts for assets signed regularly so that the Indian Navy always remains a future-focussed force, asserts Vice Admiral Biswajit Dasgupta (retd).
Pseudonymous or anonymous nature of the social media handle, analysis of the geopolitical situation and presence of VIPs onboard are some of the new criteria that agencies will keep in mind while considering the seriousness of a bomb threat made to Indian airlines.
Cyber crimes in 2016-2017: 1,372 cases. Cost: Rs 423 million.
Amid rising geopolitical risks, a vast majority of Indian CEOs have indicated in a survey that they are reducing or planning to reduce operating costs, even as they are more upbeat than their global peers on their country's economic prospects. However, most of the companies do not plan to cut their headcount or salaries, found the annual Global CEO Survey released by consultancy giant PwC here on the first day of the World Economic Forum meeting on Monday. The survey also found that about four in ten CEOs (40 per cent of global and 41 per cent of India respondents) do not expect their companies to be economically viable in 10 years if they continue on their current path.
The size of the scam is about Rs 15,000 crore, as per the first information report (FIR) registered by the police in the case.
Paris 2024 gearing up to face unprecedented cybersecurity threat
Numerous members of Hezbollah in Beirut and various areas of Lebanon were injured when their communication devices exploded, according to the Arab media reports. ANI posted on X quoting AP that Iran's ambassador in Lebanon was among those injured in the blasts.
'A mule operates someone else's account to transfer illegal money.'
'There has been a marked increase in four types of cases.' 'One is fraud related to online deliveries, online shopping and online groceries and liquor.' 'Second fake news, third hate speech and fourth sextortion.'
The second cyber attack on AIIMS took place just last fortnight, but the hospital's cyber security systems were able to successfully thwart this attempt.
It said a "sudden rise" in terrorist-financing investigations was seen in 2023 and this was attributed to events arising out of incidents in Manipur that led to such probes in more than 50 cases.
China is likely to deploy Artificial Intelligence-generated content via social media to sway public opinion to boost its geopolitical interests during elections in countries like India, South Korea and the US, tech giant Microsoft has warned.
A new breed of hackers has emerged, whose main aim is not necessarily financial gain but causing disruption
'The absence of cyber security framework for ATMs is like a dream come true for hackers.'
Kataria has been involved in a big nexus of the human traffickers since last year and may have links with an international gang, the police said.
Kapil Sibal said there will be multiple places from where cyber war could take place, it will involve individuals, sections of society, businesses, terrorists, drug dealers and those who want to generate violence.
There is a secured system to tackle cyber attacks and there is a segregation of nuclear generation from the administrative segment, There is a secured system to tackle cyber attacks and there is a segregation of nuclear generation from the administrative segment, he said.
Amid increasing number of cyber attacks and snooping, the government on Tuesday announced the national cyber security policy that aims to protect information and build capabilities to prevent such attacks.
The National Security Strategy document should flag all major issues concerning security strategy and provide guidelines to concerned departments to work out suitable action plans. Since the global and regional geopolitical canvas is dynamic, the NSS document should be deliberated at length before formulation and should be reviewed periodically, recommends Commodore Venugopal Menon (retd).
Like China, India needs to encourage 'hacker clubs' in view of the challenges of virtual terrorism, says Lieutenant General Prakash Katoch (retd)
Concerned over household savings moving towards alternative investment avenues, RBI Governor Shaktikanta Das on Thursday asked banks to mobilise deposits through innovative products and services by leveraging their vast branch network. "Banks are taking greater recourse to short-term non-retail deposits and other instruments of liability to meet the incremental credit demand. "This, as I emphasised elsewhere, may potentially expose the banking system to structural liquidity issues," he said.
Benefits of demonetisation come at a heavy price for Fintech firms. They will spend a massive amount on securing and reinforcing their cyber security apparatus this financial year. Karan Choudhury reports.
The nature of war and its purpose remains unchanged. The change is in the character of war in terms of a man-machine mix, domination of sensors and certain automation of the tactics and methods of war, points out Colonel Anil A Athale (retd).
The India centre, which is the seventh such facility for the company globally, will function as a satellite to Microsoft's Redmond-based Digital Crimes Unit.
The US has suffered a spate of cyber-attacks, reportedly from overseas, successfully infiltrating key government systems including the White House and National Weather Service and prompting authorities to shut down the unclassified e-mail system at the State Department.
