Financial institutions must leverage artificial intelligence and other new-age authentication tools to establish a robust KYC process in the era of remote account opening, said Vishal Kapoor, head of group finance audit and risk audit and executive director at DBS Bank.
Developing a cyber resilience playbook is a continuous process that demands constant enhancement, rather than a one-time input. By beginning with targeted action items and progressively expanding upon them, organizations can make every conceivable recovery scenario more manageable.
Gaurav Gupta from MeiTY, India, recommends that CIOs and CISOs should initiate their digital forensics readiness journey in advance by training first responder employees to prevent any evidence contamination. Gupta emphasized that data created will always remain.
Real estate is catching up with technology but has a long way to go in terms of innovation, said Arvind Singh, chief technology officer and executive vice president of IT for Puravankara Group. Singh shared how to select the right security tools and protect the data of real estate customers.
The LockBit 3.0 ransomware group on Monday leaked 600 gigabytes of critical data stolen from Indian lender Fullerton India two weeks after the group demanded a $3 million ransom from the company. The stolen data includes "loan agreements with individuals and legal companies."
Researchers found Android malware masquerading as a legitimate application available and downloaded over 620,000 times from the Google Play store. The apps have been active since 2022, posing as legitimate photo-editing apps, camera editors and smartphone wallpaper packs.
Organizations with a security-by-design approach need to go beyond being reactive to a proactive, offensive strategy to strengthen their security posture, says Mrutyunjay Mahapatra, member board of directors and chairman of the audit committee at Reserve Bank Innovation Hub.
As IT and OT systems converge with the adoption of Industry 4.0, the security risk to OT systems and IoT devices is high. To secure the enterprise, organizations need network segmentation tools to scan for malicious content across the OT environment, says Ivan Issac of OPSWAT.
While large conglomerates are uncertain about their future in an economically volatile world, AirAsia is paving the way to growth while staying digitally resilient through cybersecurity, according to Shyam Krishnamurthy, country head of AirAsia's Super App.
While most organizations carry out risk assessments and cybersecurity audits, security practitioners need to go beyond these manual processes to ensure proper protection, says Angel Redoble, group CISO, PLDT Group. He recommends starting with identifying all of the potential attack entry points.
The Philippines plans to introduce a national cybersecurity plan later this year. What expectations do security practitioners have, and what changes would they like to see? Joey Fontiveros of the Philippine Army Signal Regiment shares his views on the plan and its impact on cloud security.
Retired Lt. Gen. Deependra Singh Hooda recommends applying military principles to assess and enhance cybersecurity readiness and organizational resilience of enterprises. By drawing parallels with military strategies, he stressed the need to prepare for and adapt to evolving threats.
Cyber insurance is just one piece of the puzzle to address rising cybersecurity issues. Cyber insurance is not a defense strategy but more of a risk transfer strategy that can save your skin if there is an incident, said Deepika Mathur, CEO of Markel India.
The hyperconvergence of the communication and computing technology of 5G and edge cloud to offer virtualized services to customers in the form of a "bank in a box" will redefine the way banks will operate in the future, said the Reserve Bank of India’s D. Janakiram.
The proposed Personal Data Protection and Privacy Bill, which was tabled in the Indian Parliament, needs to guarantee the fundamental right of privacy and have a methodology to establish a secure data flow across the border, under Section 17 of the IT Act, said retired Justice B.N. Srikrishna.
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