Dr. Prabhu addresses the Senior Officials of Union Bank in Mumbai
30-Oct-2021
Dr. Ananth Prabhu G, Professor in the Dept. of Computer Science & Engineering and Principal Investigator at the Digital Forensics and Cyber Security Center of Excellence at Sahyadri was invited by Union Bank of India to deliver a lecture on "iSafe Banks".
Dr. Prabhu mentioned that Cybersecurity breaches continue to grow in both frequency and sophistication for all industries, and the financial sector is particularly vulnerable. From lack of secure data storage to ineffective cryptography, there are a number of reasons why online banking portals and banking apps pose a special threat:
Lack of server security
Insecure or ineffective data storage
Data is not secured in the transport layer from server to client and/or from client to server
Data leakage on the user side
Inadequate authentication and authorization during user log-in
Inadequate or ineffective encryption
Client-side injection (e.g. the injection or execution of malicious code on the mobile device through the mobile app)
He also mentioned that there are three major attack vectors that banking institutions and financial organizations need to consider. The first is the personal security of individual members accessing their accounts, the second is security of the tools you build for them to access their accounts, and third is your own internal team as they access your back-end servers and internal network (as well as the data housed on your network).
The event was a part of Vigilance Week, National Cyber Security Awareness Month and Azadi ka Amrit Mahotsav. Chief Vigilance Officer Shri. Umesh Kumar, Field General Manager Shri Rajiv, Chief Technology Officer Shri Pravin, CISO K N Reddy and other officers were present. The program was coordinated by Regional Head & DGM Smt. Renu Nair, and CGM and CCO A K Vinod.
