Forensic auditor to probe card data breach -Governance Now

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.

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