Two developments last week point to the evolving cybersecurity architecture in India’s financial sector. First, the government made public a report by the working group established to help set up the Computer Emergency Response Team in the Financial Sector (Cert-Fin). More fundamentally, Modi’s financial inclusion and development push, based on JAM (Jan Dhan Yojana, Aadhaar, Mobile connectivity), has digital underpinnings that mean potentially cascading effects if there are breaches in the financial sector. For example, the telecom sector is a potential avenue of attack when it comes to the financial sector. What about liability for distributed denial of service (DDoS) attacks, now the most common kind of attack on financial institutions globally?

Source: Mint July 13, 2017 02:03 UTC