HYDERABAD: City Commissioner of Police (CP) CV Anand, upon the request of the Reserve Bank of India, held a meeting with the representatives of 51 urban cooperative banks on Thursday to discuss cyber security measures. The meeting was held in wake of the recent cyber attack where Nigerian hackers siphoned off Rs 12.9 crore from Mahesh Bank, Hyderabad. The cops believe that the bank didn’t follow appropriate cyber security measures.
Explaining the hacking process, CV Anand said the hackers used phishing emails, trojans and key logger software to enter the bank’s database. The CP emphasised the need to place sufficient cyber security measures. He suggested that sufficient funds should be spent on deploying firewalls, intrusion prevention and detection systems, anti-phishing systems, segregated system networks and Virtual LANs.
Anand also appealed to the RBI Chief General Manager from Mumbai headquarters Rajan and Regional Director of RBI Nikhila to tighten enforcement and take punitive measures to bring such banks under control before hundreds of crores more are lost by hacking. The RBI top officials responded by saying that they are in the process of improving cyber security throughout the country and certain limitations regarding them.