Police in India have launched a formal investigation of a malware attack on a Cosmos Bank ATM server that enabled attackers to siphon off US$13.4 million. Security experts say the incident raises many questions.
The proposed creation of a CERT dedicated to serving India's financial sector is good news. But working out a realistic framework for its activities and defining its role in ensuring stronger security for the sector will prove challenging.
India's finance minister Arun Jaitley announced plans to form a separate computer emergency response team, CERT-Fin, for the financial sector, in his union budget speech to the Indian parliament - a move that has drawn a mixed response from security experts
Punjab National Bank, which has been in the news for a $1.8 billion fraud incident, got more bad news when a security company revealed that payment card information for as many as 10,000 of the bank's customers has been for sale on the dark web. The two incidents do not appear to be related.
Some security practitioners are questioning the audit standards and internal controls maintained by state-run Punjab National Bank in the aftermath of the bank's Wednesday announcement that it had detected fraudulent transactions totaling more than $1.8 billion.
As RBI reports an increase in transactional fraud in India, the government is reviewing the financial sector's security posture in light of the nation's move toward a cashless economy. Security experts discuss the methods for effective fraud control.
The defacing of the website of Jamia Millia Islamia, a public central university in Delhi, is the latest example of how academic websites in India are vulnerable to hackers. But the hacking incidents had a humorous twist that generated many comments on twitter.
Some security practitioners are lauding government's efforts to leverage blockchain for its various projects. In the latest move, the government's cybersecurity chief ordered the Indian Institute of Technology- Kanpur to develop a new blockchain architecture that can be used for e-governance.
Today's sophisticated threats don't always arrive via the Internet we know well and use every day. They often take a deeper, darker path. Discover how covert threats from the dark web can impact your network, and what you can do to protect your assets.
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