“Attempted heist of $1 billion by unidentified hackers” the shot rang out across the financial world which experienced first-hand the tremors of cybercrime. The yet to be identified hackers made off with $81 million and embroiled Rizal Commercial Banking Corporation (the bank used as conduit for the heist), in penalties totaling 1P billion imposed by Bangko Sentral ng Pilipinas (BSP). Meanwhile, the Monetary Authority of Singapore (MAS)...
The world of cybercrime is immense. Knowing your enemy is half battle won. Banks have been baffled and ravaged by perpetrators of Cybercrime. This infographic provides a quick peek into the world of cybercrime and helps bankers understand what needs to be done to protect themselves from these ravagers.
Cybercrime is a relatively new term in the lexicon of criminal terminology. Cybercrime came about after the financial sector especially banking introduced technology for its banking operations in the late ‘90s. This infographic throws light on the current scenario of cybercrime across different sectors in India, as well as answers how and why banking in India is so prone to cybercrime.