CYBERSECURITY MEASURES
Banking Trojan malware affects Android phone users; more deadly than its previous form
The Trojan Medusa is back and is now more deadly. It is tough to detect and is wreaking havoc in phones across the US and Europe. It raises the importance of cyber security.
RBI tells banks to find ways to bridge the gap between credit and deposit growth
The meeting addressed various banking challenges including credit-deposit ratio, cybersecurity, and digital frauds. Governor Das emphasized the need for robust cybersecurity controls and customer awareness initiatives to curb digital frauds.
RBI Governor urges banks to step up efforts against ‘mule accounts’ & intensify customer awareness initiatives
RBI Governor Das emphasized the importance of managing third-party risks, enhancing compliance culture, and strengthening resilience in banks during a recent meeting with banking executives.
Proactive measures against cyber vulnerabilities are vital: Here’s how companies can get started
CEOs and CTOs should prioritize autonomous patching plans to enhance security. Collaboration between security and IT is crucial for effective patching. Analyzing results and ensuring vulnerability compliance are essential. Autonomous patching boosts risk management and operational efficiency, reducing costs and maintaining compliance in a dynamic cybersecurity landscape.
Stock market frauds on the rise: 6 ways to protect yourself
With the growing threat market regulator Securities and Exchange Board of India (Sebi) and stock exchanges including NSE have been warning investors of fraudulent entities and persons who scam people through digital means and social media platforms.
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Beware Android users! THIS new malware can steal your phone data and misuse bank details. Know how to stay safe
A cybersecurity firm has recently discovered a new form of malware that is being used by cybercriminals to scam people through fake Google Play utilities.
Google tests new AI scam call detection feature amid rising cyber crime
Google is testing a new AI-based scam call detection feature. However, its legality is in question, as profiling callers based on conversation content without their consent is not permitted in India. In 2021, one scammer in India was responsible for 202 mn scam calls, which is about 27,000 fraud attempts every hour.
The rising importance of the chief trust officer
Businesses are emphasizing trust by appointing a Chief Trust Officer (CTrO) to oversee trust-building initiatives. This role involves assessing trust levels within and outside the organisation, focusing on domains like corporate culture, compliance, and customer experience.
Need proactive risk mitigation measures to tackle cyberattacks: RBI DG
RBI deputy governor Swaminathan J emphasized proactive risk mitigation strategies in the face of cyberattacks and emerging banking risks, addressing challenges in regulations, corporate governance, and assurance functions to ensure bank safety and stakeholder trust.
Embracing Industry 4.0: Navigating business transformation trends in the digital age
Post-pandemic, the focus on Industry 4.0, Circular Value Chains, Autonomy via Edge Computing, and Demand-Driven Digital Supply Chains reshaped global business dynamics. India's leadership in AI, cybersecurity, and sustainable manufacturing practices highlights its commitment to digital transformation.
Contemplating a career in cybersecurity? Check out the in-demand skills, roles, and pay
The rise in technology has brought about a surge in cyberattacks, emphasizing the critical need for robust cybersecurity measures. With a shortage of professionals globally, the industry is witnessing high demand for roles such as security analysts, data scientists, and incident responders.
Safeguarding Your Smart Car: How to secure your connected car from cybersecurity threats
In today's tech-driven era, smart cars are revolutionizing transportation with advanced features aimed at enhancing safety and connectivity. However, this integration of digital systems brings forth cybersecurity concerns, threatening vehicle and occupant safety. Essential strategies include software updates, strong passwords, secure Wi-Fi, and cautious usage of third-party devices.
Hacker Alert! Over 80% of Indian firms expect cybersecurity incident in 2 years
The 2024 Cisco Cybersecurity Readiness Index, which was released on Thursday, found that only 4% of companies in India are ready to tackle today's threats, with 59% of organisations falling into the "beginner or formative stages of readiness".
NPS: How PFRDA plans to make National Pension System investments safer for government employees
National Pension System : The Pension Fund Regulatory and Development Authority (PFRDA) has released an advisory about how NPS investments by government sector employees could be made safer by following certain advisories. These advisories relate to the entire NPS investment process starting from the investment stage to maintenance stage to withdrawal stage.
'Fintech platforms are agile, but increase risk of misuse'
RBI deputy governor Swaminathan J discussed the rise of 'agile' fintech platforms at the Global Money Week 2024 in Paris, emphasizing the need for robust regulatory frameworks, cybersecurity measures, and consumer awareness to mitigate fraud risks.
Apple Users Beware: Indian govt. issues major security warning for iPhones, iPads, MacBooks; recommends immediate actions
The Indian government's cybersecurity watchdog, CERT-In, has issued a high-severity warning for various Apple devices, including iPhones, iPads, MacBooks, and Apple Watches. The warning highlights critical vulnerabilities that could lead to unauthorized access, disclosure of sensitive information, and other security risks. Users are urged to update their devices to the latest software versions to mitigate these risks.
Microsoft says it hasn't been able to shake Russian state hackers
Microsoft is still trying to evict Russian government hackers who broke into the email accounts of senior company executives. The hackers compromised source-code repositories and internal systems.
Google opens new cyberdefence hub in Tokyo amid China threats
The new hub, christened the "Cybersecurity Center of Excellence", aims to spearhead research and train tech talent to counter the threat of cyberattacks, Google said.
Relook parts of draft cybercrime treaty: Rights groups to UN panel
ET had reported on February 22 that the ad-hoc UN committee had, in a draft treaty on cybercrime, proposed that all member nations introduce and adopt legislative and other measures which allow the preservation of “electronic data including traffic data, content data and subscriber information” for a period of up to 90 days.
Beware! Hackers use electric toothbrushes in massive cyber attack, results in huge financial loss
Hackers exploited millions of electric toothbrushes to launch a cyber attack on a Swiss company, causing significant financial damage. The compromised toothbrushes were transformed into a botnet, targeting the company's website with a distributed denial of service (DDoS) assault. Cybersecurity experts emphasize the need for vigilance in securing internet-connected devices, highlighting the growing threat posed by smart devices in escalating cybercrime. This incident underscores the importance of proactive measures to mitigate evolving cybersecurity risks.
Critical sectors may be asked to have a common crisis management plan
These organisations may have to undertake “mandatory internal and external information security audits” and report the findings of these audits to their respective sectoral regulator, as per the proposed national cybersecurity reference framework.
What Budget 2024 can do to strengthen the cybersecurity sector in India
The budget is poised to play a pivotal role in shaping India’s economic growth and global competitiveness, particularly in the realm of cybersecurity.
Explained; What is credential stuffing and how can I protect myself?
Credential stuffing is a cyber attack where hackers use stolen usernames and passwords to gain unauthorized access to other online accounts. They test millions of username and password combinations on different websites until they find a match. To protect yourself from credential stuffing, never reuse passwords and use a unique and strong password for each account.
More professionals seek upskilling in cybersecurity: Simplilearn report
The report titled ‘Safeguarding the Digital Frontier - Cybersecurity Trends and Upskilling Outlook for 2024’ highlights the pressing demand for heightened cybersecurity measures in an era dominated by digital transactions.
FinMin asks PSU banks to take measures to strengthen cybersecurity
The Finance Ministry has urged state-owned banks to review their digital operations following the UCO Bank incident. They are advised to check their cybersecurity robustness and strengthen them. The Finance Ministry and RBI have been educating banks on this issue due to the growing digitization in the financial sector.
Siemens, Ericsson warn EU cybersecurity rules may disrupt supply chains
Proposed by the European Commission last year, the Cyber Resilience Act requires manufacturers to assess the cybersecurity risks of their products and take measures to fix problems for a period of five years or through the expected lifetime of the products.
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