Rajan asks banks to improve cyber security systems
August 16, 2016 14:13
In the wake of increased instances of cyber attacks, Governor Raghuram Rajan today said Reserve Bank is improving its capabilities and also urged the lenders to strengthen their systems.
"There have been cyber incidents in the recent past. I think it would be overly complacent for anyone of us to say we are well prepared to meet all cyber threats," he said at the annual Fibac event.
"Too many access points are left unmonitored, too many people share passwords or have easily penetrated passwords, and too little surveillance is maintained of vendors and the software they create," Rajan said.
Calling for a cultural change on the cyber security front, the Governor urged the lenders to take a "fresh look" at their security architecture.
"There have been cyber incidents in the recent past. I think it would be overly complacent for anyone of us to say we are well prepared to meet all cyber threats," he said at the annual Fibac event.
"Too many access points are left unmonitored, too many people share passwords or have easily penetrated passwords, and too little surveillance is maintained of vendors and the software they create," Rajan said.
Calling for a cultural change on the cyber security front, the Governor urged the lenders to take a "fresh look" at their security architecture.
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