Search Results for: bank
Will PSD2 have an impact in India?
Recently, in the WhatsApp circles, there was news about RBI cautioning the public with “Multi Bank Balance Enquiry Apps”. This was actually an advisory issued earlier on 11th April 2015, in which RBI stated as follows. “It has come to the … Continue reading
Securing Prepaid Payment Instruments under the IT Act
ISMG India carried a report on the Prepaid Instruments recently which has been reproduced here. Refer for more details here: Naavi said in this context : While MeitY has prescribed guidelines, security practitioners have offered other ideas. “The current authentication methods are … Continue reading
Software Application is not a mere piece of coding…There is business behind it
My article on the Bank of Maharashtra(BOM) UPI fraud where in I had expressed an opinion that NPCI and RBI also have some responsibility elicited some off the record remarks from NPCI and one of the senior technical members of … Continue reading
Fighting susceptibility for “Cyber Hypnotism” with Ulysses Contracts
The recent Cyber fraud in Mumbai where an elderly (72 year old) woman was duped to the extent of Rs 42 lakhs in a Nigerian Scam (Refer here) open up a discussion on how it that seemingly intelligent people fall … Continue reading
NPCI and RBI cannot absolve themselves of responsibility in UPI Fraud
The recent Bank of Maharashtra UPI Fraud in which Rs 25 crores were siphoned off from the Bank through UPI payment requests which were honoured by the system though there were no funds in the accounts, as well as the report … Continue reading
CyAT is dead. Let’s create a Cyber Disputes Mediation Center
The Cyber Appellate Tribunal (CyAT) which was envisaged under ITA 2000/8 as the national appeal authority over all the adjudication offices is finally confined to history. Despite being in existence from 2000 upto 2017, the CyAT could not come to … Continue reading