There’s no doubt that Highly Evasive Adaptive Threats (HEAT) attacks are adding fuel to the ransomware fire. According to ESG, 22% of organizations say ransomware readiness is their most important business priority, and 46% indicate it is one of their top 5 business priorities.
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"The biggest change these guidelines are bringing is in making information security a board level issue for all banks," says Kamlesh Bajaj, CEO of DSCI.
Now that RBI Governor Urjit Patel has stepped down, the security community is waiting to see how the central bank's cybersecurity strategy might change under new leadership.
Reserve Bank of India wants to recruit senior vice presidents for four vertical functions in its proposed IT subsidiary. But the search for a CEO to lead the team is still ongoing. What is the reason for the delay? And how can the process be streamlined?
The compliance deadlines are aggressive - but so are today's threats, says Vishal Salvi, CISO of HDFC Bank, discussing the challenges of meeting the Reserve Bank of India's new information security standards....
The Reserve Bank of India's new guidelines on interoperability of prepaid payment instruments will lead to better management of cybersecurity and security audits. But many questions are yet to be answered.
The Reserve Bank of India issued a notice to all cooperative banks advising them to apply caution while deploying third-party core banking applications and check for appropriate security standards. The move came after credential theft incidents at some banks. But will banks heed the advice?
The Reserve Bank of India, the nation's central bank, is launching a number of efforts to help bolster the cybersecurity of banks. Those include encouraging banks to use access control management and install security operations centers. But critics say the measures aren't bold enough and offer other suggestions.
RBI's recent move to mandate that all banks must use Aadhaar as the primary form of authentication for anyone accessing their bank account is stirring a debate about the long-term role of the authentication mechanism and associated data security issues.
Nandkumar Saravade, DSCI's chief, has been named CEO of Reserve Bank of India's new IT subsidiary. Security leaders set expectations for the new role and suggest important areas that need immediate attention.
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