More people using the internet for financial and e-commerce transactions has led to job creation in a niche segment. Specialists who can help deal with rising technology (tech) frauds are in high demand amid the surge in electronic transactions during the pandemic. Demand for tech fraud experts has risen upwards of 35 per cent, reveals employment and human resource services company TeamLease Services.
India's 10 biggest cities face a whopping $179.8 billion (Rs 11.9 lakh crore) risk from a series of threats over the next decade.
Why has Mumbai's cyber police taken no action against these WhatsApp groups who everyday, commit offences under the Indian Penal Code? The police cannot be unaware of their existence, observes Shruthi Marathe.
Apart from mobile apps, 611 websites with the .in domain in the country were also found to be vulnerable, the Trend Micro survey reveals.
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
India recorded 50,035 cases of cyber crime in 2020, an 11.8 per cent surge in such offences over the previous year, according to the National Crime Records Bureau (NCRB) data. The Reserve Bank of India (RBI) last week once again cautioned bank customers of fraud, including those in Know-Your-Customer (KYC) cases. In fact, certain frauds have become more prevalent than others, and being aware of them is the first step towards protect yourself. Mayur Joshi, chief executive officer, Indiaforensic.com, a company engaged in the prevention, detection, and investigation of frauds says, "It is necessary to learn, to read about these scams."
'Last year (FY21), we had about 1 million intimated claims for Covid.' 'This year (FY22), in six months, we got about 1.6 million claims.'
The bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach
Hacker group John Wick is said to be responsible for the Paytm Mall database breach.
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
According to a survey done by PricewaterhouseCoopers, the average cost due to security incidents for Indian companies more than doubled from $194 in 2013 to $414 in 2014.
UN Secretary General Antonio Guterres has termed Russian President Vladimir Putin announcement of a special military operation in Ukraine as the "saddest moment in my tenure", while Security Council members blasted the Russian leader for the "unprovoked and unjustified' action and for delivering a "message of war".
The possibility of the use of weaponised drones for terrorist activities against strategic and commercial assets calls for serious attention by the global community, India has told the United Nations General Assembly, a day after two explosives-laden drones crashed into the Indian Air Force (IAF) station at Jammu airport.
RBI has asked banks to implement these security and risk control measures from 30 June 2013.
These directions on enhancing security of card transactions will come into effect from March 16, 2020, as per the RBI notification.
The National Technical Research Organisation, the ambitious project to protect India's cyber space, is all set to roll out in May. However, experts are sceptical on how the government will maintain a balance between cyber security and civil liberties, reports Vicky Nanjappa.
'Hackers from China and UK were involved in the October 12 power outage,' Maharashtra power minister tells Rediff.com.
With thousands of people receiving ransom messages from cybercriminals every day, Devangshu Dutta explains how you can defeat the hackers.
Isn't National Intelligence Grid and UIDAI engineered by vested interests, asks Gopal Krishna.
Triple Tour de France champion Chris Froome says he has "no issue" with his private medical records being leaked in a cyber attack by Russian hackers on the World Anti-Doping Agency (WADA).
'The banking sector appears to be on course to recovery,' declares the RBI governor.
The PwC survey found more than 50 per cent respondents reporting lack of adequate skill sets
Cybercrime ranks as one of the top four economic crimes.
'There are already multiple lawsuits against the IT rules.' 'So questions of compliance are like rearranging deck chairs on the Titanic.'
Twitter said its, "Teams are working to resolve an issue affecting a small number of Indian users".
Over the past few months, Infosys has been battling allegations by Murthy and other former senior executives of falling corporate governance standards.
Do not click on any pop-ups, links in messages or notification balloons if you are off the corporate VPN, warns Niranjankumar Laxman Upadhye.
A search for "Sonakshi Sinha + Torrent" resulted in a 21 per cent chance of connecting to a malicious website
25,600 cases of banking fraud totalling Rs 1.79 billion were reported up to December 2017. 'There is an inherent legacy when it comes to insuring crime.' 'Generally, most banks are uncomfortable in sharing data about employee fraud.'
'In plain simple English, these practices amount to a looting of our country's future by some in the business community, in cahoots with some lenders,' says RBI Governor Dr Urjit R Patel.
The US government warned on Friday that hackers are attempting to exploit the 'Heartbleed' bug in targeted attacks by scanning networks to see if they are vulnerable.
On Tuesday, a French hacker and cyber security expert Elliot Alderson had claimed that 'a security issue has been found' in the app and that 'privacy of 90 million Indians is at stake'. Dismissing the claims, the government said 'no personal information of any user has been proven to be at risk by this ethical hacker'.
'India has to prepare for future warfare where kinetic use of force at the border will be limited. War will take place in the realms beyond the border.'
Professionals with sharp technical skills and knowledge of emerging markets will continue to be in demand, says Nikhil Barshikar, founder and CEO of Imarticus Learning, a tech learning and training company.
'The Olympic Spirit has been thrown to the wind in Xi Jinping's China.' 'The International Olympic Committee is ready to kowtow to totalitarian China,' notes Claude Arpi.
Govt steps up security to check criminals seeking bank details of taxpayers
The RBI plans to increase e-smart facility.
Leaders need to be ready to adapt to technological changes as quickly as possible, while they build the tech capabilities, Nadella said.
Bug bounty hunters or independent ethical hackers are certified cybersecurity professionals or security researchers who crawl the web, scanning the systems for gaps through which hackers can sneak in and alert the companies, says Shivani Shinde.
At a time when services are rapidly digitising in India, enterprises are witnessing a rise in cases of sensitive data exposure risks and breaches.
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