Naavi
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IICA Qualified Independent Director
Book Cyber Crimes
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Search Results for: e banking
Self Loans!… A New Dimension of Bank Frauds
After the PNB Fraud in which over Rs 11400 crores are suspected to have been lost came to light, many other frauds are slowly tumbling out the closets of E Banking. Leaving aside the fact that the lenders of different … Continue reading
Posted in Cyber Law
Tagged ACL, ARBUTUS, Bank frauds, CAAT, computer assisted audit techniques and tols, finacle, IDEA, mehul chokshi, naavi, nirav modi, PNB fraud, SBI fraud
1 Comment
Cyber Insurance may not be available if you are “Negligent”
In the context of huge regulatory fines envisaged under GDPR, there is a renewed interest in Cyber Insurance among Data Processors everywhere. Since liability under GDPR may arise not only for payment of compensation to data owners but also for … Continue reading
Appointment of Chairmen and Directors of Banks is the Weak link that caused PNB fraud
“Where there is Money, there will be Fraud” is a truth which all traditional Bankers know. Hence the essence of Good Banking is building security into the culture of the organization and into its systems. The legacy paper based systems … Continue reading
Posted in Cyber Law
Tagged arun jaitely, Gokulnath Shetty, K R kamat, password sharing, PNB fraud, RBI, TCS
1 Comment
RBI is making a mistake in the PNB fraud case
As expected, media is crying as if Rs 11500 crores have been lost by PNB. Congress as expected is talking as if it is not Nirav Modi who is in question but Mr Narendra Modi himself. Both may be excused … Continue reading
PNB Fraud of Rs 11500 crores was waiting to happen.
The Rs 11500 crore fraud in India in Punjab National Bank (PNB) was a fraud which was waiting to happen due to the negligence of the Bank and the software developers supporting the Banking operations. It appears that those who … Continue reading
We need to build a “Bridge of Trust” between UIDAI and Security specialists
In the on-going petition in Supreme Court, Aadhaar faces a tough battle against multiple opponents. The background under which the Aadhaar case has come up for hearing itself suggests that there are some undercurrents of opposition to Aadhaar even within … Continue reading