Deccan Despatch (January - April 2010) - CII

Cyber SecurityA collection of recommendations from the CII Conference on“Cyber Security” held in Chennai 24th April 2010Cyber attacks and cyber terrorismare the new looming threatson the horizon and the countryneeds to focus on specific areas toguarantee cyber security. There could beattacks on critical infrastructure such astelecommunications, power distribution,transportation, financial services,essential public utility services andothers. There is a need for InternationalPolice Cooperation against cybercrime here. With the number of cyberthreats escalating our nation, the needfor comprehensive security analysis,assessment, and actions have reached acritical juncture.CII (Southern Region) organised aconference on Cyber Security with atheme of “Emerging Cyber Threats& Challenges” on 24th April 2010 inChennai to address Cyber Security issuesthat affect the country. The objective ofthis conference was to discuss greatestemerging cyber threats across thenation. The conference addressed cyberpolicy, academic, industrial, governmentfor in-depth understanding of policyimplications. This conference hadpanel discussions & presentations ofexperts and think tanks. The conferencefocused on Information Security, SecureBanking & Finance Security, ICT forLaw Enforcement, Secure ElectronicTransactions, Wireless Security,Cryptography & Crypto-analysis, Threatmodelling, Intrusion detection andprevention, Intellectual Property, etc.Cyber Security:Banking, Finance,Information Technology &Security SurveillanceThe identity theft and phishing are thetwo important threats for the bankingindustry. All financial institutions shouldadopt multi factor authentication in thebanking business to protect the interestof the customers.The emerging trends in cyberspace andthe implications for online banking, thevariety of risks that are posed in onlinebanking should be looked into. There isa need to approach the issue holisticallythrough addressing people, process andtechnology.Banks usually have robust policies andgovernance structure to achieve a highlevel of security for their IT operations.Database controls to secure backendaccess by employees, channels andpartners are given required access, butothers are stopped at the periphery. Theymust be managed by professionals whodevote time and effort to keep systemssecure.There is no single agency to investigatecyber crime… CERT-IN (computer35