Banks to audit cyber security every 6 months in India

[Oct 24, 2018]

As India moves rapidly to digital banking, the Centre has asked public sector banks to conduct half-yearly cyber security audits to save customers using internet banking from cyber threats and data breaches.

They have been asked to work on alerts and advisories issued by the Reserve Bank of India on priority, the official said.

The lenders have also been asked to conduct vulnerability assessment of servers of business computers frequently and exercise practice of ‘white-listed applications’, a concept which allows only pre-approved and specified programs to run on computers and help block malware.
Meanwhile, the Reserve Bank of India has said that further enhancing levels of protection against cyber security risk is its foremost agenda in 2018-19.

RBI had earlier asked banks to immediately put in place a cyber security policy to combat cyber threats.

The government’s main focus is now on preventing cyber crimes as India moves to digital banking on a faster pace, said the official.

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