Forensic auditor to probe card data breach

State Bank of India (SBI) has blocked about 6 lakh cards

GN Bureau | November 23, 2016


#Data breach   #forensic auditor   #cards blocked   #investigation  

 An independent investigation by a forensic auditor under Payment Card Industry Data Security Standard (PCI-DSS) framework is underway and the investigation will look into incidents of data breach, the finance ministry informed the Rajya Sabha on Tuesday.

SBI, which is India’s largest public bank, has blocked about 6 lakh cards as a measure against cyber fraud, the ministry said. 
 
RBI has set up a Cyber Security and IT Examination (CSITE) Cell within its department of banking supervision last year. 
 
The central bank also issued a comprehensive circular on Cyber Security Framework in Banks on June 2, covering practices pertaining to various aspects of cyber security. 
 
The circular requires banks to have among other things, a cyber-security policy, cyber crisis management plan, a gap assessment vis-a-vis the baseline requirements indicated in the circular, monitoring certain risk indicators in this area, and report unusual cyber security incidents within 2 to 6 hours.
 
RBI has been carrying out IT examination of banks from last year. It has also set up a Cyber Crisis Management Group to address any major incidents reported including suggesting ways to respond and recover to/from the incidents. 
 
RBI has also set up an IT Subsidiary, which would focus, among other things, on cyber security within RBI as well as in regulated entities.
 

Comments

 

Other News

A 19th-century pilgrim’s progress

The Travels of a Sadhu in the Himalayas By Jaladhar Sen (Translated by Somdatta Mandal) Speaking Tiger Books, 259 pages, ₹499.00  

India faces critical shortage of skin donors amid rising burn cases

India reports nearly 70 lakh burn injury cases every year, resulting in approximately 1.4 lakh deaths annually. Experts estimate that up to 50% of these lives could be saved with adequate access to skin donations.   A significant concern is that around 70% of burn victims fall wi

Not just politics, let`s discuss policies too

Why public policy matters Most days, India`s loudest debates stop at the ballot box. We can name every major leader and recall every campaign slogan. Still, far fewer of us can explain why a widow`s pension is delayed or how a government school`s budget is actually approved. That

When algorithms decide and children die

The images have not left me, of dead and wounded children being carried in the arms of the medics and relatives to the ambulances and hospitals. On February 28, at the start of Operation Epic Fury, cruise missiles struck the Shajareh Tayyebeh school – officially named a girls’ school, in Minab,

The economics of representation: Why women in power matter

India’s democracy has grown in scale, but not quite in balance. Women today are active participants in elections, influencing outcomes in ways that were not as visible earlier. Yet their presence in legislative institutions continues to lag behind. The Nari Shakti Vandan Adhiniyam was meant to addres

India will be powerful, not aggressive: Bhaiyyaji

India is poised to emerge as a global power but will remain rooted in its civilisational ethos of non-aggression and harmony, former RSS General Secretary Suresh `Bhaiyyaji` Joshi has said.   He was speaking at the launch of “Rashtrabhav,” a book by Ravindra Sathe


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter