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Ensuring the safety of highly sensitive #financial data, which is critical under the modern digital environment, is a top priority. The threat of increased cyber attacks has pushed the Fintech companies to seek the most reliable solutions to monitor and safeguard their systems. SIEM – Security Information and Event Management acts as a stepping stone in realm of cybersecurity . It allows finding, collating, and analyzing real-time security alerts generated by network hardware and software. Invaluable in detecting potential threats lurking in infrastructure, SIEM is critical for ensuring that Fintech firms operating in India, As local laws tighten and customer demands increase, there is an unprecedented need for intensified security measures. Key benefits of SIEM for Fintech in India: #Real-time threat detection: Identify and respond to security incidents promptly, minimizing the impact on operations. #Compliance adherence: Ensure compliance with regulatory requirements such as RBI guidelines and data protection laws. #Enhanced visibility: Gain a holistic view of your IT environment, including cloud services and mobile devices. #Operational efficiency: Streamline security operations with centralized logging, reporting, and automation capabilities. #Incident response readiness: Equip your team with the tools and insights needed to effectively mitigate security threats. As Fintech continues to reshape the financial services landscape in India, investing in cybersecurity infrastructure is non-negotiable. Stay ahead of the curve and fortify your defenses with a robust SIEM solution. Your customers and stakeholders deserve nothing less.  #Fintech #Cybersecurity #SIEM #IndiaTech #Compliance #KUMA #Kaspersky Jaydeep Singh Santhosh Milan Mohan Subramanian Mukesh Sumeet Gaurav Piyush Gautham Nikhil

Ransomware attack on software supply chain leading to 300 banks ops being affected in India, is indicator of times to come. Critical services & critical infra will be targeted more and more, by specific threat actors. Cyber security is deeply broken in India .... Specifically for orgs which are mid sized and are in financial sector. Primary reason is lack of funds, followed by lack of skills. But bigger culprit is, lack of security management/ops model. Most of mid sized organizations, end up adopting security measures only because their is mandate by RBI or regulatory bodies. This leads to .. 1. Buying couple of products in name of controls and compliances 2. Conducting audits/assessment, which don't go beyond paper 3. Looking at a set of console or non-related reports 4. Not being able to place fingers on posture Most of them realize pretty soon, a. Products can't assure security b. Products don't deploy controls either c. Random VAPT runs/cycles are just a routine d. Assessment, though necessary, are only hygiene e. They will never have the budget to adopt everything needed For mid sized organizations, creating a workable, sustainable and affordable security operations, management and posture framework is key. Given their constraints on budget, skills & bandwidth, adopting security program which centers around, following, is the key to maintaining a decent posture ... 1. Adopt open source tools for protection 2. Buy commercial tools, which you can really afford 3. Remember products don't do magic, you need specialists 4. Don't build 1000 line control sheets which can't be managed 5. Build simple operational framework, which are manageable 6. Enforce aggregation of security, into summary/insight 7. Get a good partner, who can help navigate Over the course of next five years, both intensity and nature of attacks on financial sector of India, will grow multi-fold. For lot of mid sized financial companies, including fintech, time to streamline things, is now. #fintech #banks #cybersecurity #security #cyberattack #ransomware #databreach #cyberbreach #attack

Cybersecurity is increasingly crucial in India's Banking, Financial Services, and Insurance (BFSI) sector, driven by rapid digitalization that brings both opportunities and risks. As BFSI firms embrace digital platforms and fintech innovations, protecting sensitive data and ensuring customer privacy becomes paramount. In response, these organizations are investing heavily in cybersecurity technologies like encryption, AI-driven analytics, and machine learning. Equally important is cultivating a strong cybersecurity culture across teams, through training and awareness initiatives, to empower employees in recognizing and mitigating cyber threats. Regulatory oversight from entities like the Reserve Bank of India (RBI) sets essential guidelines, ensuring that cybersecurity measures meet industry standards and compliance requirements. Adhering to these regulations not only strengthens cybersecurity frameworks but also builds trust among stakeholders. Given the evolving nature of cyber threats, continuous learning and adaptation are vital. Cybersecurity professionals must stay informed about emerging trends, collaborate with peers and experts, and implement proactive strategies to stay ahead of potential threats. In essence, cybersecurity in India's BFSI sector goes beyond technology—it's about fostering a resilient organizational mindset that prioritizes data security, customer trust, and regulatory compliance. 🌐💼🔒📈 #Cybersecurity #BFSI #India #DataProtection #AI #RegulatoryCompliance #DigitalTransformation #CyberAwareness #Fintech #Privacy #RiskManagement #InfoSec #CyberDefense #FinancialServices #CyberThreats #CyberResilience #Technology #Innovation #CyberSec #SecuritySolutions #BankingSecurity #InsuranceSecurity #ITSecurity #CyberStrategy #Futurismtechnologies #FuturismCybersecurity #Futurism

💻 India's booming digital landscape brings with it a growing need for robust cybersecurity. Here are some challenges India faces in fortifying its defenses, along with potential solutions: Challenges: ➡Critical Infrastructure Vulnerability: Power grids, transportation systems, and communication networks are prime targets for attackers, potentially causing widespread disruption. ➡Financial Sector Threats: Banks and online payment systems are magnets for cybercriminals looking to steal money or extort funds. ➡Data Breaches and Privacy Concerns: As India digitizes, the amount of sensitive data stored online increases, making data breaches a significant threat. ➡Cyber Espionage and Advanced Persistent Threats (APTs): These sophisticated attacks aim to steal sensitive information for espionage purposes. ➡Lack of Cybersecurity Specialists: India has a shortage of cybersecurity professionals to manage and maintain defenses. ➡Legal and Regulatory Gaps: The Information Technology Act needs to be updated to address new cyber threats and ensure effective enforcement. ☀ Solutions: 👉 Investing in Critical Infrastructure Security: Upgrading infrastructure with robust security measures and protocols can make it harder for attackers to infiltrate systems. 👉Enhancing Financial Sector Protections: Strengthening financial institutions' cybersecurity posture through regulations, training, and adoption of advanced security solutions is crucial. 👉Data Privacy Legislation: A strong data protection law that mandates data security practices and lays out clear consequences for breaches can improve data privacy. 👉Promoting Cybersecurity Awareness and Education: Educating citizens on cyber hygiene practices like strong passwords and being cautious about suspicious links can significantly reduce the risk of falling victim to attacks. 👉Building a Robust Cybersecurity Workforce: Encouraging students to pursue careers in cybersecurity and providing training programs to create a pool of skilled professionals is essential. 👉Public-Private Collaboration: Collaboration between the government and private sector can foster knowledge sharing, resource allocation, and a unified approach to tackling cyber threats. By addressing these challenges, #India can build a more secure digital ecosystem and protect its critical infrastructure, financial sector, and citizen data. #CyberSecurity #Vinay8484 #Data #Finance #IT

SMEs make up 97% of all businesses in Southeast Asia and account for 85% of employment in the region. This means that weak cybersecurity of SMEs affects more than just businesses, it can trickle down to larger Southeast Asian society. Cybersecurity issues don’t just face SMEs in Southeast Asia, they are a prevailing problem across all industries and businesses, especially as Southeast Asia has been rapidly expanding its digital economy. While regional investment in cybersecurity has been increasing in step with this economic growth, the pace of cybersecurity improvements do not match the scale of cybercrime. As a result, global payment technology company, Mastercard has signed a memorandum of understanding with ASEAN Foundation, the community arm of The ASEAN Secretariat. The two organisations will be collaborating on a series of initiatives aiming to raise awareness, provide training, and improve the technological capacity of SMEs and public institutions. “Enhancing cybersecurity capacity and expertise is necessary to navigate today’s rapidly evolving digital threats and build a strong digital economy.” said Safdar Khan, the Division President of Southeast Asia, Mastercard. Have a read and follow The Peak on LinkedIn for your daily dose of the latest in business, finance, and lifestyle news.

🏦 Securing Micro-lending Growth with XDR A micro-lending company in India had grown rapidly, extending financial inclusion through small-ticket loans to underserved communities. However, as their operations scaled, so did their challenges. They faced rising cyber threats, including phishing attacks and data breaches, while grappling with stringent regulatory requirements like RBI's guidelines on digital lending and data protection laws. 🚨 The company’s existing cybersecurity setup was fragmented and reactive, leaving gaps in threat detection and response. Managing audit trails, encryption protocols, and secure API integrations required for compliance proved overwhelming. 🛡️ To address these issues, the company adopted an Extended Detection and Response (XDR) solution. This integrated platform unified their security tools—spanning endpoints, networks, and cloud environments—into a centralized dashboard. 🦾 Enhanced Threat Detection and Response: The XDR platform provided real-time visibility, identifying anomalies like unauthorized API access attempts. Automated responses neutralized threats before they could escalate. 📒 Streamlined Regulatory Compliance: Built-in compliance reporting made meeting RBI audit requirements seamless. The platform ensured encryption standards were upheld and maintained an immutable activity log. 🪙 Cost Optimization: By consolidating tools, the company reduced cybersecurity expenses while achieving advanced protection. 🎯 The Results Within six months, the company achieved a 70% reduction in security incidents and passed their compliance audits without a hitch. This bolstered their reputation, enabling them to market their robust security posture to attract institutional investors and strategic partners. For micro-lenders operating in India’s complex regulatory environment, XDR isn’t just about security; it’s a catalyst for growth. With systems proactively protected, these businesses can scale confidently, staying compliant and resilient. Are you looking for a powerful, affordable, and automated solution to secure your systems and streamline compliance? 🔒 Spharaka XDR is the answer! With real-time threat detection, automated responses, and seamless integration, Spharaka XDR empowers businesses to stay ahead of cyber threats while meeting regulatory standards effortlessly. Let’s make security a growth enabler for your business! 🚀 #CyberSecurity #XDR #Compliance #Automation

After spending 8,000+ days in the Fintech industry, 2 unavoidable challenges for Fintech Platforms and Products are: 👉🏻 Cyber resilience and 👉🏻 Data security Fintech companies increasingly handle sensitive and personally identifiable financial data and transactions making them susceptible to systemic vulnerabilities and lucrative targets for cybercriminals. → Data breaches are costly, both financially and in terms of trust and reputation. → Statista and Cyber Security Ventures estimate that in 2023 cyber-attacks cost USD 8 trillion globally with an increase to USD 10.5 trillion in 2024. → IBM’s 2023 Cost of Data Breach reporting reveals an all-time high in data breaches resulting in an average loss of of USD 4.45 million. 📌 Solution: A comprehensive cyber defence, monitoring and response capability is crucial to staying ahead of vulnerabilities, risks and potential exposures. Fintech company leaders must invest in their Platform and Product trust, security, privacy and safety as foundational capabilities. ✅ Cybersecurity is an ongoing battle and attack methods are evolving all the time. ✅ Fintech companies must prioritize building resilient, comprehensive security systems to protect customer data and maintain trust. ✅ Failing to do so puts them at severe risk of financial, reputation, regulatory damage. ✅ Players who succeed in establishing trust (or re-establishing trust after a breach) are able to grow and scale their customer base and brand. 📌 Example: Equifax → Equifax faced a major data breach in 2017 where the sensitive personal information of millions of individuals was compromised. → To respond and re-establish trust, Equifax implemented enhanced cybersecurity measures, conducted thorough investigations, and improved their data protection protocols to prevent future breaches. Security in the Digital Platform and Product era is a foundational capability that is often an afterthought. So, Fintech founders, be warned!! Be smarter than cyber adversaries. Let’s connect if you are looking for a personalized roadmap for your idea’s growth and wish to invest in resilient scaling capabilities. #FintechGrowthStrategy #CyberSecurity

From 1st April this year, public sector behemoth Canara Bank will open a separate cyber security wing. Why? To monitor digital transactions on a real-time basis, trigger alerts if a fraudster is trying to break into a customer’s account, leverage the power of AI to predict frauds and loan defaults, and stay ahead on the cybersecurity front. If you too want to stay ahead and enhance your cyber security investment in 2024, it is critical to partner with the right set of experts who understand exactly what you need and accordingly deliver the most relevant and easy to use security monitoring services. 🔵 At ASPL Info, our ISO270001-certified and experienced engineers have and continue to adeptly cyber-secure multiple Banks across regions including Nepal and Africa, banking sector enterprises, and diverse businesses across the industry. 🔵As well as packaging modular services tailored to each of our clients’ cybersecurity needs, we use industry-relevant methodologies, AI-based tools, offer specialization in SIEM Administration, Incident Response, and Threat Hunting, and ensure 24x7 Support with round-the-clock Security Operations Centre. 🔵To know more, drop us a DM on this Page/ email us at: ✉ securityservices@asplinfo.com. P.S. We are grateful to our clients who have entrusted us with the protection of their highly sensitive data thereby preventing their customers from falling into the trap of online fraudsters and securing their brand value. Team ASPL Info is 2024 ready. Jayanth Gojer Ajay Badrinath Jobi Thomas #cybersecurity #ai #threatintelligence #threathunting #soc #24x7support #ivaluegroup #securityawareness

⚠️ Alert: 𝐂𝐲𝐛𝐞𝐫𝐚𝐭𝐭𝐚𝐜𝐤 𝐒𝐮𝐫𝐠𝐞 𝐨𝐧 𝐈𝐧𝐝𝐢𝐚𝐧 𝐖𝐞𝐛𝐬𝐢𝐭𝐞𝐬 𝐢𝐧 𝐐1 𝐂𝐘24 🚨 Indian websites have faced a massive 261% increase in cyberattacks in Q1 CY24 compared to the same period last year! Globally, attacks rose by 76% during the same timeframe. 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: 𝐏𝐨𝐰𝐞𝐫 & 𝐄𝐧𝐞𝐫𝐠𝐲: Up to 500 times higher attack rate than the industry average. 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞: 100% of healthcare applications targeted by bot attacks. 𝐁𝐅𝐒𝐈 𝐒𝐞𝐜𝐭𝐨𝐫: 90% of banking, financial services, and insurance apps attacked. 𝐏𝐫𝐢𝐦𝐚𝐫𝐲 𝐓𝐡𝐫𝐞𝐚𝐭 𝐕𝐞𝐜𝐭𝐨𝐫𝐬: 🌐 DDoS Attacks: Increased by 76% YoY. 🤖 Bot Attacks: Up by 147%. Is your business prepared? Join our webinar to learn "𝑯𝒐𝒘 𝒄𝒚𝒃𝒆𝒓𝒔𝒆𝒄𝒖𝒓𝒊𝒕𝒚, 𝒊𝒏𝒔𝒖𝒓𝒂𝒏𝒄𝒆, 𝒂𝒏𝒅 𝒄𝒐𝒎𝒑𝒍𝒊𝒂𝒏𝒄𝒆 𝒘𝒊𝒍𝒍 𝒔𝒉𝒂𝒑𝒆 𝒕𝒉𝒆 𝒇𝒖𝒕𝒖𝒓𝒆 𝒐𝒇 𝒇𝒊𝒏𝒕𝒆𝒄𝒉". Don't miss out! 🛡️ Webinar: How Will Cybersecurity, Insurance, and Compliance Shape the Future of Fintech? 📅 𝐃𝐚𝐭𝐞: 26th June 🕒  𝐓𝐢𝐦𝐞: 3:00-4:00pm 🔗 𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐍𝐨𝐰 𝐟𝐨𝐫 𝐅𝐫𝐞𝐞: https://shorturl.at/y5308 Stay safe and compliant with expert insights. Secure your spot today! #BFSI #Finance #RegTech #ComplianceManagement #CyberSecurity #Insurance #Tech #Leaders #India #CyberAttacks #DDoS #Malware #Phishing #ProtectYourBusiness #WebinarAlert