Internal frauds, Phishing & Ransomeware, taking toll on organisational safety

Today, the major areas of concern in any organisation is to secure Endpoints and Server where most of the breaches and frauds happened like a Phishing attack, Ransomeware attack and Data leakage by internal employees etc. These concerns have become a major headache nowadays for most of the CIO’S/CISO, says Manoj Yadav, Regional Manager-North & East India, Nepal and Bangladesh, Satcom Infotech, in conversation with Elets News Network (ENN).

Tell us about the scene around security in India’s BFSI sector.

 The Reserve Bank of India (RBI) has been a guiding force for the banks informing regulations and giving recommendations to achieve various objectives like PCI DSS, Change Management etc.  Commercial banks in India have moved towards technology by way of Bank Mechanisation and Automation with the introduction of strong initiatives, taken by the Reserve Bank of India in strengthening the Payment and Settlement Systems in banks.

What are the major areas of concern in terms of organisational safety?

The major areas of concern in any organisation today is to secure Endpoints and Server where most of the breaches and frauds happened like a Phishing attack, Ransomeware attack and Data leakage by internal employees etc. These concerns have become a major headache nowadays for most of the CIO’S/CISO.

There are multiple cloud-based options like Sophos Intercept X server Advanced for servers; Sophos endpoint Intercept X and Phish Threat to secure their endpoints are available for any organisation to address these issues.

 How is Satcom Infotech helping in handling the security concerns?

Satcom, being one of the oldest organisation in Network security domain, is specialised in securing the corporate network through their cutting edge Gateway and Endpoint Technology products. Our State of the art labs in Mumbai and Delhi keep evaluating the new technology and work relentlessly to address the ever evolving cybersecurity threats.

Our Technology experts are spread across India and maintain healthy relationships with most of the CIO’s/CISO of the organisation and keep them updated in the latest Security threats.

What is your view on the Indian regulatory framework pertaining to cybersecurity? What recommendations do you have in this regard?

A cybersecurity regulation comprises directives that safeguard information technology and computer systems with the purpose of forcing companies and organisations to protect their systems and information from cyber attacks like viruses, worms, Trojan horses, phishing, denial of service (DOS) attacks, unauthorized access (stealing intellectual property or confidential information) and control system attacks. There are numerous measures available to prevent cyber attacks.

Cybersecurity measures include firewalls, anti-virus software, intrusion detection and prevention systems, encryption, and login passwords. Our best of the breed product Sophos which is one of the Gartner leaders in Endpoint protection, Hard disk Encryption and Unified Threat Management (UTM) is our recommendation for this to address the challenges.

There have been attempts to improve cybersecurity through regulation and collaborative efforts between the government and the private sector to encourage improvements to cybersecurity.  Industry regulators, including banking regulators, have taken notice of the risk from cybersecurity and have either begun to begin to include cybersecurity as an aspect of regulatory examinations.

We have one of the INDUSTRY INNOVATORS like TRIPWIRE ( A part of US based Beldon group)  in technology like File Integrity Monitoring( FIM), Vulnerability Assessment (VA) and Log management ( SIEM) To address the regulation which is an issue by RBI for the BFSI sector. Any bank or financial Institution can buy their product and get 100% to comply with the regulation issued by various bodies.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for 3rd Cloud & Security Summit, Mumbai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.