Newsletter from Reserve Bank Information Technology Private Limited (ReBIT) on Cybersecurity

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An article shared by Mr. Nandkumar Saravade, CEO, ReBIT in Cyber Pulse Newsletter brings up the development in the cybersecurity and the key insights related to it.

The newsletter by Nandkumar Saravade states –

Dear Friends,
Lockdown imposed in India and other countries, to control the spread of COVID-19 virus infections, has compelled us to work and live in a virtual world. Business continuity plans are now the guiding mantra to an agile workforce in addressing the situational constraints and uncertain business demands. As expected, cyber fraudsters are making merry from the ongoing crisis. They are creating spurious websites to appeal for donations for relief activities, fake health advisories, and phone calls, and churning out malware to infect end-users through phishing emails and siphoning off funds. This is no time to be lax on cybersecurity, even though the need to continue operations takes priority and the IT teams will be struggling to balance various priorities.

The Reserve Bank of India has not only alerted banks to ensure business operations but has also put in place its own Business Continuity Plan by moving core financial operations to a separate war-room. The banking sector is being treated as an essential service and has continued to offer largely uninterrupted services to its customers. Work From Home (WFH) is the new normal and even after the Coronavirus specter has receded, it will be a mainstream mode of doing business, for reasons of familiarity, cost, convenience, and resilience.

On other cybersecurity issues, there is also some positive news. Microsoft has facilitated the takedown of a powerful botnet, which will lower the nefarious activities of cyber criminals considerably in the short run.

We are indeed living in ‘interesting times.’ Momentous changes, which in the past, would have been the stuff of science fiction, have come about and cast the world in a strange light. It will require all of the human ingenuity and concerted actions by each country’s leadership, as well as efforts by each and every individual to cross this phase of history with minimal impact. We trust that you are practicing social distancing, handwashing hygiene and wearing masks to ‘crush the curve.’
Do keep safe and enjoy the issue of Cyber Pulse from the sanctuary of your home.
With warm regards,

April 14, 2020

Reserve Bank Information Technology Private Limited (ReBIT), has been set up by the Reserve Bank of India to serve its IT and cybersecurity needs and to improve the cyber resilience of the Indian banking industry.

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Logix Infosecurity through its blog brings the latest news and trends in the security space.

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