BENGALURU: In the last nine months, nine banks were hacked in Karnataka, said MD Sharath, Deputy Superintendent of Police, Cyber Crime Police Station, Criminal Investigation Department, while speaking at the 11th best practices meet on Thursday, organised by Data Security Council of India.
“Banks are outsourcing their payment points and core banking solutions to remote vendors, which makes it difficult for law enforcers to know where the money has gone in fraud cases. Banks have been told not to respond to fraudulent fund transfer requests sent by e-mail, but they still do it. Budding co-operative banks are small and do not know what cybersecurity is,” Sharath said.
The theme of the event, inaugurated by Gaurav Gupta, principal secretary, Department of IT, BT and S&T, Government of Karnataka, was ‘Security at Scale’.
“In order to become a five trillion dollar economy, digitisation is required. With that, comes many security threats. It is important for the government network to be secure,” Gupta said.
Talking about payment frauds, Kaushik Pandey, lead consultant-payment security, SISA, said, “Soon after RBI mandated having European Master Card chips on credit cards, there was a 60% increase in cyber frauds.”
Narendra Nath, joint secretary, National Security Council Secretariat, said “The challenge is that employees are unaware of cybersecurity implications.”