Sunday, November 16, 2008

Cyber Crime: Top Concern Among Indian Banks - - 11 Nov 08

More than 400 phishing attacks have come to light during the past few months in Indian banking ector. A sharp rise in the number of such attacks has been reported in Sept-Oct, 2008, according to National Association of Software Companies (Nasscom).

Phishers have attacked nationalized banks as well as private lenders like state-owned Bank of India, private lender HDFC Bank and ICICI Bank among others, informed Som Mittal, Nasscom president during a Nasscom-organised conference on cyber security awareness.

Phishers can acquire vital authentication information like usernames, passwords, bank account numbers and credit card details from the users through fraudulent electronic communication process. Apparently, over 80 Indian banks do not have adequate security protection for their online account users and consequently, fraudsters can easily access the personal information of account holders. These problems are due to the complexity of cyber crimes, and also non-cooperation from netizens, panelists at the conference said.

"There is high awareness at the government level and the number of attacks proves that we are at the cusp of a significant increase," Mittal said.

"We have cyber laboratories training police officers, and other people about data protection best practices and standards. Currently, there are three cyber laboratories in Maharashtra and one in Bangalore with 3-4 people working in each laboratory," said Kamlesh Bajaj, CEO, Data Security Council of India (DSCI).

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