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 After Mr K C Chakrabarthy, the former Executive Director of RBI, it appears that the mantle of Cyber Security has passed on to Mr R. Gandhi, Deputy Governor, who appears to be pushing the Commercial Bankers for better Cyber Security. … Continue reading →

The RBI Deputy Governor Mr R Gandhi has confirmed that the recent cyber attack that was reported in Mumbai was on Union Bank of India but no loss might have been reported. Mr Gandhi also reminded the Banks about the … Continue reading →

The hacking of a Bangladeshi Bank last February where about $81 million was transferred by fraudsters hacking into the SWIFT Inter Bank money transfer system is a grim reminder of the weaknesses in our Banking eco system. The detailed account … Continue reading →

Naavi has been repeatedly emphasizing the need for banks to provide mandatory Cyber Insurance for the benefit of the customers as a support to the technology related innovations which have changed the threat landscape in the Banking industry. While new … Continue reading →

Currently, the Government has announced a merger of SBI with some of the associate Banks including SBM. It is reported that a new fraud has surfaced in which fraudsters are calling associate bank customers and informing them that due to … Continue reading →

The recent developments in RBI with the issue of “Cyber Security Guidelines” on June 2, 2016 and formation of an IT Subsidiary which apart from overseeing the internal IT operations will guide the regulated Banks also has created a renewed … Continue reading →