An investigation into last year's attempted theft of $170 million at India's state-owned Union Bank has found strong similarities with the Bangladesh Central Bank heist, which was attributed to North Korea, and resulted in an $81 million loss.
IRDAI's draft information and cybersecurity framework developed in collaboration with industry working groups is set to be finalized soon. The draft is fairly comprehensive and will set a serious tone for security at a board level, experts say.
The many companies in the Middle East that do business in Europe - and handle Europeans' data - now must comply with the European Union's new General Data Protection Regulation. And some security experts say that could lead to a boost in data security practices in the region.
The threat landscape certainly has changed in recent years. But can you say the same about the traditional intrusion prevention system."The biggest problem with IPSs today is that organizations are trying to fight today's threats with yesterday's solutions," says Bertone, who serves as CTO of Fidelis Cybersecurity....
The hacking group known as Legion is taking credit for hijacking the twitter accounts of high-profile Indians as well as accessing more than 40,000 servers. Is the nation well-equipped to mitigate the risks posed by hackers?
The financial sector continues to be a prime target for highly sophisticated, customized attacks. The SWIFT money transfer system recently came under attack resulting in an $81 million heist of the Bangladesh Bank. This number pales in comparison to an estimated $1 billion stolen from over 100 banks worldwide by the...
After the recent compromise of 3.2 million debit cards details in India, Ravi Shankar Prasad, minister of IT and law, is calling for more organizations to have a third-party security audit and hire a CISO.
In the wake of recent cyberattacks on the financial sector, the Insurance Regulatory Authority of India plans to develop by March 2017 a comprehensive cybersecurity framework offering guidance for insurers. Security experts weigh in on the priority areas that need IRDAI's attention.
In light of the increase in ATM fraud in India, it's essential that banks more closely monitor the security efforts of third-party service providers they increasingly are relying on to help manage their networks, says Prakash Joshi, COO at Electronic Payment Systems
Federal regulators will be kicking off remote HIPAA compliance "desk audits" of business associates next month and more comprehensive onsite audits of both covered entities and BAs early next year. Learn more about what's next for the audit program.
Same-day Automated Clearing House (ACH) payment processing became a reality. While this represents a terrific opportunity for banks to be responsive to their customer's requirements for faster ACH payments, plus the ability to attract new customers from banks who choose not to offer the same level of responsiveness,...
To improve security, The Insurance Regulatory and Development Authority of India is requiring insurance companies to stop using internet servers outside India and to store all critical customer data domestically. The authority also is requiring insurers to take stringent measures to safeguard indigenous servers.
While the push for security in regulated industries is compliance driven, it's essential for organizations to also develop security strategies based on business risks, says A. Shiju Rawther, head of infrastructure and security operations at a leading credit-rating bureau in India.