NEW DELHI: The January deadline for banks to adopt the Securities and Exchange Board of India (Sebi) guidelines on cybersecurity framework is approaching amid rising cybercriminal attacks on India's banking and financial institutions. Banking and payment apps require new layers of underlying security to combat these threats, experts have said.
According to online security firm Check Point's latest Threat Intelligence Report, banking and financial institutions in India experienced an average of 2,525 cyberattacks in the six months leading to December. This number is significantly higher than the global average of 1,674 attacks per financial organisation, raising concerns for India's banking and payments establishments.
"Cybersecurity serves as the backbone of customer confidence, ensuring financial stability and operational resilience. The trust customers place in banks is safeguarded by the quiet but powerful guardians of cybersecurity," said Sundar Balasubramanian, managing director for India and SAARC at Check Point Software Technologies.
A ransomware attack on tech system provider C-Edge Technologies in July disrupted payment systems for nearly 300 smaller banks in the country, temporarily taking them offline.
The security challenge encompasses two main elements-banks where users place savings in accounts, and payment networks enabling digital transactions through credit cards and UPI. Cybercriminals have fast-improving methods, including use of generative artificial intelligence.
Diese Geschichte stammt aus der December 27, 2024-Ausgabe von Hindustan Times Uttarakhand.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der December 27, 2024-Ausgabe von Hindustan Times Uttarakhand.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Nagal Continues To Stay Away From Davis Cup
India's singles No. 1 Sumit Nagal continues to remain absent from national duty as his name was missing from the team's upcoming Davis Cup World Group I play-off tie against Togo, to be held in New Delhi in February.
Back in hockey, Ward hopes to shine in HIL
Sam Ward can easily be spotted on a hockey turf, wading past defenders as a skater would glide on ice, but what really sets the 33-year-old apart is his mask.
Tough beginning for world No. 1 Carlsen; Raunak stuns Firouzja
World No. 1 Magnus Carlsen had a torrid start to the World Rapid and Blitz Championship, losing in one round and escaping with draws in two others to end Day 1 of the rapid event at 2.5/5 in New York.
Jayasuriya aims to make SL cricket happening again
Yet, his impact is already evident.
With a bit of luck and lots of faith, you can get back to scoring big runs: Smith
You are one of the best batters on the planet and then, the centuries dry up. That's how fickle form can sometimes be.
Rohit's insipid captaincy lets Australia take control
It was a slow trudge out, with head bowed, for India's captain Rohit Sharma. The imagery just fit. He had just been dismissed for 3, trying to play a tentative pull shot that was a cross between something you play in gully cricket and how a tailender usually responds to a short ball.
Renuka and Deepti star as India women sweep ODI series vs WI
Renuka Thakur and Deepti Sharma delivered a bowling masterclass to trounce West Indies by five wickets and seal a dominant victory in the third and final ODI of the series at the Kotambi Stadium, Vadodara on Friday.
Azerbaijan Airlines 'Thought the Plane Would Fall Apart' Plane Crashed Due to 'External Interference'
The Azerbaijan Airlines plane that crashed in Kazakhstan this week suffered physical \"external interference\", the airline and Azerbaijan's transport minister said, on Friday, citing preliminary results of an investigation, adding to speculation it was hit by a Russian air defense system.
Rupee Falls to Record Low as Dollar Bids Spike
The rupee fell to an all-time low on Friday, as maturing non-deliverable forwards and currency futures boosted dollar demand, while the sharp fall led to panic dollar buying by importers.
Israel Burns the Last Functioning Hospital in Gaza
Israeli troops stormed one of the last hospitals operating in northern Gaza, on Friday, igniting fires and forcing many staff and patients outside to strip in winter weather, the territory's health ministry said.
