MUMBAI: Banking regulator’s Reserve bank of India’s move to use ethical hacking experts to check cyber security vulnerabilities of banks has exposed chinks in the armour of four state-owned banks, sources involved with the operation said. In the first phase the focus will be on PSU banks because they have more vulnerable systems than private banks. The regulator is planning a mix of ethical hacking, planned and unplanned audits of banks’ security systems to ensure that best practices are followed strictly,” a person who is involved with the matter said. In the last couple of months RBI has put together a small team which specifically looks into cyber vulnerabilities of Indian banks. Indian banks have been quite active lately on the cyber security front, but have some distance to cover.

Source: Economic Times January 23, 2017 04:17 UTC