Security breach: Debit/ATM card breach - What more can banks do

As per news-paper report (This is how an ATM virus compromised 3.2 million debit cards in India) a virus or malware infection at Hitachi Payments Services led to the compromise of millions of debit cards. Not many details are known on the malware that has caused this havoc. It is unfortunate that even after knowing about the infection, customers were not flagged. RBI has to take a serious note of this and work on disclosure norms so that precautionary measures can be taken in future.

Hitachi Payment system should come out with detailed reason of the malware and how it affected the ATMs. This will be a good learning for other organisations and they too can take pro-active steps in future. As for banks, they need to provide a mechanism for customers to check if their card has been compromised and pro-actively change their pin and notify them accordingly. Interestingly my bank allows me to change the PIN, only at the ATM. There is no way I can change the PIN by logging onto the bank website. This prevents me from changing my PIN regularly. Implementation of two-factor authentication would also go a long way to assure customers on the security of their accounts. Debit/ATM cards too need to move away from magnetic strip cards to EMV based. EMV based cards consists of a microchip that contains data traditionally stored in the card’s magnetic strip. These work with new point-of-sale readers that scan the chip and process payment transactions in a secure manner using encryption.The chip reduces fraud because it contains a cryptographic key that authenticates the card as a legitimate bank card and also generates a one-time code with each transaction. This means thieves can’t simply take account numbers stolen in a breach and emboss them onto the magnetic strip of a random card, or program them onto the chip of a random chip card, to make fraudulent purchases at stores or unauthorized withdrawals at ATMs.

 

Some of the above measures will help in reducing threats to the banking system and bring more assurance to customers that their money is safe. 

Security breach: SBI blocks over 6L debit cards

In one of the biggest card replacements in Indian banking, State Bank of India has said that it will re-issue around six lakh debit cards to customers, which have been blocked following a malware-related security breach in a non-SBI ATM network.

http://timesofindia.indiatimes.com/business/india-business/Security-breach-SBI-blocks-over-6L-debit-cards/articleshow/54926828.cms

For a long time, security has been ignored. It's consequences are now being felt. Though not much is known about malware and which bank's ATM have been infected, it is clear that this breach would have affected other banks too. Hardship faced by people whose debit cards were blocked and not being able to withdraw cash from ATM's could further alleviate common man from using technology and question security of all initiative taken to move towards a cashless society.

 

It is time that organisations conduct their due diligence when they inter-connect with other company networks and also ensure that their customers are well protected. Banking industry has to move fast to protect against such malware as we will see more such attacks in future.

GajShield honored as among 20 Most Promising Cyber Security Company of 2016

It is an immense pride, for a company, to get recognized and applauded for the ideas that innovates in any field. GajShield and its team’s gladness is indescribable as we hold are heads high for being among the 20 Most Promising Security Companies by CIOReview. Overwhelmed with gratitude, we owe our success to all our clients who have kept their faith in us to provide security solution to their enterprise. This acknowledgment will motivate us further and will help us to create ingenious solutions, and will also boost our zeal for excellence.

This is a new feather added in our cap since we have already achieved various business milestones seamlessly. Innovation is one of our greatest assets and with technologies like Context based Data Leak Prevention, Cloud Security, we have always been ahead of the security solution curve which helps to create real security solutions of today’s and tomorrow’s enterprise. We already have our fortified presence in 40+ countries and are expanding our global footprints too. With 14+ years of Establishment, we are fueled with great knowledge, strong network, and high confidence. We have always worked seamlessly to achieve excellence. This recognition will help to take our business to the next level.

 

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Rural Indian villages are about to get lifesaving treatment through an app

India has just one doctor for every 1,700 people, and while 70% of the population is in rural areas, about 60% of the healthcare infrastructure is in cities.

http://money.cnn.com/2016/10/03/technology/intelehealth-india-doctor-health-worker-app/index.html

With majority of population being in rural India and very few doctors to take care of them, telemedicine is the way to go. With the advancement of technology like IOT of health, it will not only reduce the cost of treating a patient in rural places, but will also help in diagnosing the disease early with quicker treatment.

 

India, too needs to have a central repository of health information, probably linked with Aadhar (with appropriate security and anonymity), it will help in identifying spread of disease, plagues and with bioinformatics lead to better research and improving healthcare in India.

Cyberbullying increases by 75%

During July, August, and September, the Office of the Children's eSafety Commissioner investigated 70 serious Australia-wide cyberbullying claims, up from 40 in the same period last year.

http://www.zdnet.com/article/childrens-esafety-commissioner-reports-75-percent-increase-in-cyberbullying-complaints/

 

With mobile phones and tablets, it has become easy for kids to access internet. Cyber-bullying mainly happens through Social sites. Many kids under the age of 16, create an accounts on these sites by giving a false birthdate. It is the responsibility of these site owners to ensure that false birthdates are not accepted, if needed to have a separate site for kids under the age of 16. Any account created on these sites have to be validated, thus limiting the posting through genuine accounts and not fake accounts. This will go a long way in preventing cyber-bullying.