Tagged: Cybercrime

Pin and Chip

Countering Card Fraud: Is Chip & Pin Technology Enough?

EuroPay, MasterCard and Visa (EMV) is a technical standard developed to ensure more secure Point-Of-Sale (POS) transactions. EMV allows non-static information to be transferred between the card, the terminal, and the financial institution that processes credit card transactions. This takes care of skimming fraud where fake devices would copy data from magnetic stripes and use it on another card. While EMV is not new technology and has...

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The Rise of Cybercrime in Indian Banks

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.  

RBI’s circular

How can RBI’s latest guidelines help Indian banks combat cybercrime?

Rising cybercrime in India is no secret. According to a report by Symantec, India now ranks 3rd in the world, after the US and China, as a source of malicious activity. In fact the National Crime Records Bureau data reveals that in the three years up to 2013, registered cases of cyber crime were up 350 percent, from 966 to 4356. Dubious distinctions both, and give banks and the...