A new generation of security analytics solutions has emerged which are able to store and analyze huge amounts of security data in real time. Emerging trends of cyber-crime law; Conclusion. The weaponization of AI. Cyber Security: To enhance the trust and reliability of RBI's infrastructure for assurance and resilience, Research and Innovation: To empower Indian banking industry through creative technology solutions based on research, and by tapping the synergy among key stakeholders, Systems Audit: To support validation and enforcement of regulatory guidance on cyber security for the banking sector, through excellence in audit, analytics and forensics. From Brazil, a novel way to attack a bank was reported. CERT-Fin will monitor efforts in the financial sector towards maintaining modern cyber security architecture, developing awareness among regulated entities and the public in general. Prioritize risk based security: Risks are dynamic and 100% prevention is not realistic. One of the cyber security trends to look out for is a continued need to see a continuing improvement in the relevant regulations as apply to cyber security. The attackers reportedly gained entry using spear-phishing, using spoofed RBI IDs. Study of Latest Emerging Trends on Cyber. 4. 13. The report covers nine key cyber threats: Furthermore, the overall cost of data breaches has increased (from an average of $141 per record, to $148). Let’s take a look at some of the top cyber threats that enterprises should watch out for in 2019. Emerging Trends in Cybersecurity Related to Industry Beyond the sheer size of the threats and disruption to businesses, there several factors driving growth and innovation in cybersecurity. Wearable and implantable IoT healthcare devices, from insulin pumps to monitors to … ReBIT will have the following four verticals to support its mission. Without investing in training existing staff on how to prevent or mitigate cyberattacks in their field, as well as hiring experts with the skills to spot new threats on the horizon, industry stands to lose hundreds of millions of dollars. 8 This has significant implications for KYC simplification, but also in further proliferation of services like Aadhaar Enabled Payment System (AEPS). Despite some improvement, there remains a lot of work to be done in this area. Countering the false narratives means building systems, either automated or manual, that can sift out lies, propaganda, and bad-faith by analyzing both content and metadata – where the information originates from, and who is likely to have created it. Without a doubt, the emerging trends in cybersecurity are signaling a fundamental shift in the way companies approach cyber security. ReBIT will act as a catalyst for innovation, big systems and new ideas apart from having the capability to guide the regulated entities in the IT areas of their operations as also for the RBI’s IT related functions and initiatives. You may opt-out by. Reserve Bank and its regulated entities. Publically available personal sensitive information can pose a risk for Indians because the majority of the population are digital immigrants, and, therefore, vulnerable to misuse of their data. Vehicle hacking and data theft increases. By Naomi Hodges, Cybersecurity Advisor at . Inadequate Budgets and Lack of Top Management support: Budgets are usually driven by business demands and low priority is accorded to Cyber security. 19. If more barriers like these go up, it could easily have the effect of preventing international cooperation on both the technological and regulatory challenges of cybersecurity, and that’s only likely to benefit the bad guys. Due to recent breakthroughs in the field of AI, security experts and firms have been using neural networks, machine-learning models, and other AI technologies to detect and anticipate cyber … Awareness remains low: Awareness amongst internal employees remains the first line of defense. Similarly, Union Bank of India also became the victim of an attack in July 2016. Ravi Sharma. Artificial intelligence (AI) will play an increasing role in both cyber-attack and defense. Just as AI can “learn” to spot patterns of coincidence or behavior that can signal an attempted attack, it can learn to adapt in order to disguise the same behavior and trick its way past our defenses. Organizations in India need to improve their response capability to mitigate DDoS risks. CERT-Fin will offer policy suggestions for strengthening financial sector cyber security to all the stakeholders, including regulators and the government. Ministry of Finance set up a working group to work closely with all financial-sector regulators and stakeholders on issues of cyber security. 2020 cybersecurity trends. The risks associated with security threats and the potential impact to business should make organizations see the benefits of proactive security. Countries like Iran and China are already censoring content and block access to external information. In addition to the webinars, some initiatives will require further support to enable easy adoption of these best practices by the financial institutions. In 2015, Frost & Sullivan forecasted a 1.5 million worker shortage by 2020. Answer: Introduction: Unfortunately, one of the officials fell prey to the phishing email and clicked on the malicious link leading to the malware exploiting the system. 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