The Indian consumers using banking apps on their mobile phones are specific targets of cybercriminal groups internationally.
The key findings on threats related to financial industry, that includes BFSI and how to get equipped to counter advanced cyber-threats. An attempt has been made to analyze the state of IT security in the financial sector. New technologies are emerging to tackle new cyber-threats. The famous bank breaches detected by the global research and analysis team got a dedicated two-way dialogue slot too.
In Box: The cyber and financial threats that are predicted for the year 2017, especially in India post-demonetization, were thrown light upon in Alexander’s presentation.
According to Chief Security Expert Aleks Gostev, there are two different problems that the banks and financial institutes are facing which are attacks on customers and attacks on banks. Mobile banking has also become a threat to customers and it is on the rise. Now, G20 countries in Europe have agreed to work together on cybersecurity.
He further added, “Currently, there are 5,000 mobile viruses everyday globally. That is the rate at which cyber-threats to mobile are increasing. The Indian consumers using banking apps on their mobile phones are the specific targets of cybercriminal groups internationally. Our message to the Indian banking system is that they should try to find the breaches in their banking system as fast as possible and fix them. Also, it is very critical for banking officials to not put important information like their post or job descriptions on the social media platforms.”
Mr Aleks Gostev
Chief Security Expert,
Global Research & Analysis Team