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RBI reported 16,468 instances of financial cyber crime in 2015-16 | Cyberops

RBI reported 16,468 instances of financial cyber crime in 2015-16

By Prempal Singh 0 Comment April 10, 2017

Economical cyber crime in India has been steadily increasing through the years. For the year 2015-16, the Reserve Bank of India (RBI) reported 16,468 cyber crimes related to ATM, debit cards, credit-based card and net banking frauds. The number of frauds reported by the RBI was 13, 083 in the year 2014-15 and 9,500 in the year 2013-14. The information was provided to something elevated in the Lok Sabha by MPs Dushyant Singh and Manoj Tiwari.

The answer was given by the minister of state for electronics and information technology. He added additional information from National Crime Record Bureau (NCRB) collects and maintains statistical data of police recorded cognizable offenses.

Meanwhile, the RBI arranged up the Reserve Bank Information Technology Pvt Limited (ReBIT) to care for the IT requirements, including the cyber security needs of the bank as well as controlled entities. ReBIT will give attention to IT and cyber security including research for the financial sector and assist in IT systems review and assessment of RBI regulated entities, in combination with implement and control internal or system large IT projects. The company will have four main verticals it will work in – cyber security, research and innovation, systems audit and project management.

The ministry of consumer electronics and information technology (MeitY) has also issued a consultation paper which phone calls for developing a platform for a security of digital wallets operating in the country. Included in the guidelines recommended, the government’s will CERT-In shall notify the categories of incidents and removes that are required to be reported to it mandatorily.

Source: medianama.com

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