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Adopt risk-based supervision, zero-trust approach to curb cyberfrauds: RBI
YourStory
ยท
1m ago
Medial
The Reserve Bank of India (RBI) emphasizes adopting risk-based supervision, zero-trust models, and AI-aware defense to combat cyber fraud in the financial sector. Rising threats like phishing and AI-driven attacks such as deepfakes are expanding with digital services, increasing attack surfaces. The RBI highlights vulnerabilities due to dependency on major IT providers and interconnected systems. It underscores the importance of effective cybersecurity operations, threat detection, and continuous learning to enhance digital ecosystem resilience.
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Youโve embraced Zero Trust, now letโs make it a reality
Techradar
ยท
1y ago
Medial
Zero trust security is a popular approach that organizations are adopting to protect their networks from internal and external threats. It involves implementing a set of security principles, such as verifying every time, using least privilege for access, and assuming a breach has already occurred. Zero trust is particularly relevant in today's modern IT environments where remote working and cloud-based networks are prevalent. However, organizations often struggle to adopt zero trust due to the need for a new security paradigm, lack of resources and skills, and concerns about complexity. Nevertheless, building a zero trust policy can be achieved by breaking it down into manageable parts and leveraging existing technology and managed services. The key is to choose tools from best-of-breed vendors that align with the zero trust model and provide effective protection against cyber security breaches.
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The evolution of phishing: vishing & quishing
Techradar
ยท
1y ago
Medial
Phishing attacks have evolved with the rise of AI technology, with voice-based phishing attacks (known as vishing) becoming more prevalent. Attackers are using AI tools to impersonate voices and make targeted attacks more personalized and difficult to detect. Another emerging phishing technique is known as "quishing," where malicious links are hidden behind QR codes sent via email. To combat these evolving techniques, organizations need to adopt a zero-trust mentality and encourage employees to verify communication through alternative channels. A resilient cybersecurity culture and training staff to never implicitly trust information sources are crucial in protecting sensitive data.
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MeitY groups to devise rules for IoT, mobile and data safety
Economic Times
ยท
1y ago
Medial
The Indian government has established five working groups to study and create guidelines for data anonymization, zero trust architecture, IoT devices, mobile device security, and digital education. These groups, under the Ministry of Electronics and Information Technology, aim to develop and adopt frameworks for effective implementation of e-governance projects in various ministries and government departments. The guidelines for mobile security and data anonymization are currently under review, while work on guidelines for zero-trust architecture, online exams, and IoT devices is ongoing. The government plans to incorporate these guidelines into its updated India Digital System Architecture.
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Current workforce trends feed into rising cybersecurity risks
Techradar
ยท
1y ago
Medial
Insider threats, where employees exploit their privileged access to steal or leak confidential data, are on the rise. Negligent employees or contractors are responsible for most insider incidents. Layoffs and workforce reductions increase the risk of departing employees taking sensitive information with them. Third-party relationships can also be a source of insider threats if access is not immediately revoked. The rise of "resenteeism," where dissatisfied employees openly express their grievances, can drive malicious insider incidents. Financial hardship and increasing stress levels among employees also contribute to insider threats. Organizations need to implement a Zero Trust and least privilege approach to minimize the risk of insider attacks.
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RBI appoints Kesavan Ramachandran as new Executive Director
Economic Times
ยท
1m ago
Medial
The Reserve Bank of India (RBI) has appointed Kesavan Ramachandran as Executive Director effective July 1, 2025. Prior to this, he served as Principal Chief General Manager in the Risk Monitoring Department. Ramachandran, with over 30 years of experience in currency management, banking supervision, and administration, also served on the Board of Canara Bank and ICAI. As ED, he will oversee the Department of Regulation's Prudential Regulation Division.
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Generative AI will move from disruption to optimisation in 2024
OutlookIndia
ยท
1y ago
Medial
Dell Technologies predicts that in 2024, the focus of AI will shift from experimentation to strategic implementation, with the first wave of GenAI enterprise projects reaching maturity. They emphasize the need for an ecosystem approach and collaboration to achieve digital transformation. Dell also highlights the importance of edge computing, hybrid quantum systems, multi-cloud adoption, and the fortification of Zero Trust architectures in securing the digital future of the Asia Pacific and Japan region. They plan to introduce the industry's first commercial Zero Trust private cloud system in 2024.
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Sweeping EU rules on AI to pass final hurdle
Economic Times
ยท
1y ago
Medial
EU lawmakers are set to approve comprehensive regulations on artificial intelligence (AI), covering powerful systems like OpenAI's ChatGPT. The rules aim to protect citizens from potential risks while fostering innovation. The European Union (EU) has moved swiftly to pass the legislation following the emergence of ChatGPT, a popular AI language model. The regulations, known as the "AI Act," adopt a risk-based approach, imposing stricter requirements on higher-risk AI systems. Violations can lead to substantial fines, and there are bans on certain AI applications like predictive policing and using biometric information for discriminatory purposes. The rules will enter into force within the next two years.
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RBI-led initiative to curb digital frauds gains momentum, banks roped in to set up DPIP
Economic Times
ยท
1m ago
Medial
The Reserve Bank of India (RBI) is mobilizing major banks to establish the Digital Payment Intelligence Platform (DPIP) as a Digital Public Infrastructure to combat digital payment frauds. Under RBIโs guidance, both public and private sector banks will participate in this initiative. The platform aims to enhance fraud risk management through real-time intelligence sharing. The Reserve Bank Innovation Hub is tasked with developing a prototype, leveraging advanced technologies to curb payment-related frauds.
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How AI-Powered Contracts Are Strengthening Financial Health In A Regulatory Shift
Inc42
ยท
9m ago
Medial
By 2028, a majority of governments worldwide are projected to adopt a risk management approach in shaping their policies around artificial intelligence (AI) and generative AI. This shift is driven by the potential negative impact of financial penalties, litigation, and reputational damage, which can harm a company's revenue and stability in the long run. Leveraging AI technology to analyze data from numerous contracts offers decision-makers valuable insights into business outcomes tied to revenue, savings, and risk.
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Cyberattacks are getting faster, more common and more successful, even though detection is more advanced than ever โ new report signals the threats to businesses, supply chains, and democracy
Techradar
ยท
1y ago
Medial
A new report from CrowdStrike reveals that cyberattacks are becoming faster, with an average breakout time of 62 minutes compared to 84 minutes in 2023. Additionally, there has been a significant increase in the number of threat actors, with 34 new actors joining the scene. The report also highlights the growing use of AI in cyberattacks, as well as the increasing targeting of cloud-based systems. CrowdStrike warns of the risk to democracy as state-sponsored adversaries may seek to influence upcoming elections. To combat these threats, organizations should adopt a platform-approach to security.
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