CISOs believe banned apps posed real security threats
Banking Frontiers|September 2020
The banned apps could have been used for surreptitious activities:
CISOs believe banned apps posed real security threats

Milind Mungale says that these 59 apps gave an opportunity for continuous monitoring and could also be a conduit for ransomware

When the Indian government on 29 June banned 59 apps of Chinese origin, including the highly popular TikTok, UC Browser, Weibo and WeChat, the explanation given by the Ministry of Electronics and Information Technology was that it had received “many complaints from various sources, including several reports about misuse of some mobile apps available on Android and iOS platforms for stealing and surreptitiously transmitting users’ data in an unauthorised manner to servers which have locations outside India”. It added that the blockage is to safeguard the “sovereignty and integrity of India” and that several citizens had reportedly raised concerns in representations to the Indian Computer Emergency Response Team (CERT-In) regarding security of data and loss of privacy in using these apps. Obviously, the Government did not mention the standoff with China on the borders are the reason for the ban.

How do Indian CISOs react to this crucial decision? Most of them believe this is a very bold move by the government to ensure safety and sovereignty of the Indian cyber space. In fact, some of them wants further steps like Akhil Verma, CISO, Airtel Payments Bank, who said there should be greater scrutiny of companies, device makers and other apps which is having exposure to China, which may trigger reactive attacks.

RELOOK AT OTHER AREAS

He pointed out that the Government of India had permitted China for many years to invest in critical infrastructure in India and now that country has keys to such infrastructure and through this, the country can exert influence over financial sector as well.

هذه القصة مأخوذة من طبعة September 2020 من Banking Frontiers.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة September 2020 من Banking Frontiers.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BANKING FRONTIERS مشاهدة الكل
It's a bank and a brokerage - FinecoBank
Banking Frontiers

It's a bank and a brokerage - FinecoBank

FinecoBank of Italy is a highly tech-enabled bank that is a combination of a bank and a brokerage:

time-read
3 mins  |
November 2024
A model for cloud adoption - Zurich Cantonal Bank
Banking Frontiers

A model for cloud adoption - Zurich Cantonal Bank

The bank is had opted for cloud to offer better service to its customers:

time-read
3 mins  |
November 2024
RBI Governor urges NBFCs to adhere to fair practices code
Banking Frontiers

RBI Governor urges NBFCs to adhere to fair practices code

The Reserve Bank of India (RBI) Governor has urged Non-Banking Financial Companies (NBFCs) to strictly adhere to the Fair Practices Code, emphasizing sustainable growth and robust risk management in the sector.

time-read
1 min  |
November 2024
Automated, Adaptive, Al-enabled Architecture is a must
Banking Frontiers

Automated, Adaptive, Al-enabled Architecture is a must

Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:

time-read
4 mins  |
November 2024
Fraudsters too gain ground as real-time payment systems grow
Banking Frontiers

Fraudsters too gain ground as real-time payment systems grow

There is a need for the technologies behind the real-time payment systems to gain a march over the methods of fraudsters:

time-read
5 mins  |
November 2024
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Banking Frontiers

Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze

Even as AI is finding its place in the cyber security domain, an entirely new frontier of ethical challenges awaits.

time-read
3 mins  |
November 2024
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Banking Frontiers

Bangladesh Finance: 25% faster customer service; 15% higher customer retention

Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.

time-read
5 mins  |
November 2024
Fino sparkles with technology & brand upshift
Banking Frontiers

Fino sparkles with technology & brand upshift

Fino Payments Bank started operations in June 2017, providing banking services to mass market customers, who are largely rural-based.

time-read
4 mins  |
November 2024
Savington Upshifts: 48% Faster, Churn down 31%
Banking Frontiers

Savington Upshifts: 48% Faster, Churn down 31%

Savington International Insurance Brokers LLC, founded in 2006 by Dev Maitra, is a prominent insurance provider in the UAE.

time-read
4 mins  |
November 2024
Zoroastrian Bank: Multiple awards for being the Best
Banking Frontiers

Zoroastrian Bank: Multiple awards for being the Best

Established in 1927 by Sir Hormusjee Cowasjee Dinshaw Adenwalla, Zoroastrian Bank is a prominent urban cooperative bank headquartered in Mumbai, India.

time-read
7 mins  |
November 2024