2018 Mumbai Security Summit , Events , Fraud Management & Cybercrime
Panel Discussion: Banking Fraud and Breaches: The Implications and the Security Lessons Learned
India recently witnessed a broad international attack on the banking system. Cosmos Cooperative Bank in Pune, Union Bank, Punjab National Bank and others were the victims of cyber fraudsters as hackers infiltrated bank system and siphoned money.
Most breaches are caused by the failure of some processes in the system that are known to be vulnerable for months or even years. What are the biggest lessons to learn? Do we have to change the way we think about protecting our data? How can the customer data be truly protected and the money saved so won't see another attack? What are the hard lessons organizations need to learn from this breach?
This panel examines some of the biggest issues the banks deal with after a data breach and what other organizations can do to prevent such a disaster.
The panel discusses:
- Long-term implications of the bank breach;
- Why complacency is the enemy;
- Effective patch management and log analyses;
- Why a "one size fits all" approach to security won't work.
