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The recent regulatory guidelines, viz RBI Master Directions of Nov 2023 and SEBI Cybersecurity and Cyber Resilience Framework (CSCRF) of Aug 2024 lay added importance to cyber resilience, business continuity and disaster recovery, incident response and recovery from cyber incidents. Boards are being increasingly attentive and seeking deeper insights on the organizations' preparedness to respond to and recover from cyber incidents. Being part of the Boards of regulated entities, I saw this quarter's IT Strategy and Technology Committee meetings, as well as the Board meetings delve deep and enquiring with the security and technology leadership and sometimes, directly from the MD/CEO, on : 1. Cyber incidents reported, their impact and root-cause assessments. Note : for the organizations, these were mostly hits or false positives. 2. Resilience scores, with Q-o-Q and Y-o-Y comparatives 3. Business Continuity Drills and results 4. Disaster Recovery exercises and results 5. Health check report on the primary as well as the recovery sites, including cloud DR assessments 6. Cyber / technology risk assessments 7. Compliance and reporting (technology) 8. Ongoing governance and improvement around the Cyber Crisis Management Plan (or similar plan, by whatever nomenclature it's defined) 9. Adequacy of technology & security resourcing and training 10. Data protection, with special emphasis on vendor / third party access to critical data & resources and controls around the same The above were some of the top discussion points, but not the only ones. As Boards are made more and more involved and responsible over governance of the organizations' cyber security, resilience, technology governance and risk assurance, Board members will engage more regularly on discussions about cyber risks, inquire of the management their capacity-capability-readiness to respond to and recover effectively from cyber incidents. And above all, the Board would like to ensure compliance to all the relevant regulatory provisions, including on technology and #cybersecurity. To all Technology and Security leaders - the message is very clear, the regulators and the Boards would like to see much more than mere tick mark exercise, specially if you're a regulated entity. - read through each clause in the directions & circulars from regulators - assess thoroughly your current status, including process, operations, technology architecture, procedures, documentation et all - perform risk assessment - technology and operations, over each part of your business - conduct data flow analysis, ascertain your data protection strategy - analyze your third party / vendor connections at all business touchpoints Once you analyze your current state, compare with the requirements given by regulatory directions. Then, step-by-step, put in the measures, updates, upgrades. These are critical steps and require expert acumen - take help from external experts, as required. #technologygovernance

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#CyberSecurity #PCIDSSv4 #Requirement11 #ContinuousLearning Requirement 11 of PCI DSS Version 4.0 focuses on regular security testing and monitoring to ensure that systems are protected against potential vulnerabilities and threats. Join Deepak's Continuous Learning sessions to gain expert insights and practical guidance on implementing and maintaining compliance with Requirement 11. Stay ahead in the ever-evolving landscape of cybersecurity! 🚀

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Good to see regulators taking stringent action against non-compliance. For two consecutive years, the bank was assessed to be deficient in its IT risk and information security governance, the RBI said. During subsequent assessments, it was non-compliant with corrective action plans issued by the RBI in 2022 and 2023. #compliance #riskmanagement #kotak #auditing

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Understanding CERT-In: India’s Cybersecurity Guardian In today’s digital age, cyber threats are a constant challenge. CERT-In (Computer Emergency Response Team - India) is at the forefront of protecting India’s cyberspace. From managing cybersecurity incidents to issuing best practices, CERT-In plays a crucial role in safeguarding businesses and individuals alike. Explore how this framework ensures resilience against cyber threats in our detailed article. Click the link below! https://lnkd.in/g39ZxUjg #CyberSecurityIndia #CERTIn #LawAndTech #DigitalSafety #CyberLaws #LawFirmInsights #CyberCrime Shiju Pv K P Sreejith Vinod P Veettil Shrishail Kittad Adv Nidhi Singh Abdullah Qureshi Shyam Mohite Ashwin R Anneppanavar Suresh Palav Aaushi Shah Doshi G.P. Yash Vardhan Pranava Charan Tannya Baranwal Nim Dem Dorjee Rahul Sundaram

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Large companies will have 'security & privacy' as key focus area, with the relevant resource, including the budget, allocation across levels - right from having a designated CISO, DPO and likewise, whereas it shall be an add-on at most of the SMEs. The required depth of expertise and ownership shall be deliberately missing until something amiss. The IT support personnel shall be playing the security admin role too. The priority is to define security accountability at all levels, as with the required training & awareness too. Culturally too, security should be made a business priority in driving adherence to the laid out measures, any time.

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📌Check the comments section for the full News link. 🔒📊 Ankura India's 2024 Cyber Threat Report reveals critical insights into cybersecurity trends: 94% focus on compliance, but 42% neglect incident response testing. Only 32% deploy AI/ML security solutions, leaving gaps in defense. Time to strengthen cyber resilience! 🌐  #AnkuraConsultingGroup, #AnkuraIndiaCyberThreatReport, #Cybersecurity, #AmitJaju, #PaulWalker

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Cyber Awareness Month Post - 10/31 🗓 In March 2024, Bira 91, one of India’s top craft beer brands, was hit by a ransomware attack from the BianLian group 🍺🐞 This breach resulted in the theft of nearly 2TB of sensitive data, including financial records, human resource files, and even secret beer recipes. Information about the company’s partners, customers, and vendors, both local and international was also compromised. Coming just after a $25 million funding round, the timing couldn't have been worse. Although the company hasn't made an official statement about the ransom or the full extent of the damage, this attack shows serious gaps in its cyber security defenses. The attackers likely exploited weaknesses in Bira’s IT systems, where stronger security measures like regular audits, better data encryption, and robust access controls could have helped prevent the breach. Organizations need to enhance their security infrastructure, adopt stronger ransomware protections, and put in place a well-prepared incident response plan. #DataBreach #InfoSec #Cybersecurity #Ransomware #cybersecurityawarenessmonth

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#DiyakoSecureBow ———————————— CISO as A Service (vCISO) DFIR Analytics Cybersecurity incident disclosures: A 13-year review October 2024. Special Thanks❤️😇👍🏽🙏 Ideagen -Secure Business Continuity- 2024.10.30 —————————————————— #CWE #Incident #CyberSecurity #vCISO #SecureBusinessContinuity

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Indian Healthcare Sector Faces 6,953 Cyberattacks Weekly, Outpacing Global Rates: Check Point Threat intelligence report Read more: https://lnkd.in/grh_Y5nb #IndiaTechnologyNews #CyberSecurity #HealthcareSecurity #IndianHealthcare #CyberAttacks #ThreatIntelligence #CheckPointReport #DataProtection #HealthIT #Infosec #CyberThreats

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🚨 Urgent Alert: Major Cybersecurity Breach in India - March 2024 🇮🇳 India's government and energy sectors recently faced a significant cyber espionage campaign. The breach, characterized by a sophisticated methodology, targeted critical offices responsible for national defense and IT governance. Attackers disguised a malicious file as an official communication from India’s Royal Air Force, underscoring the need for enhanced vigilance against evolving cyber threats. Key Highlights: 🔒 Sectors Impacted: Government and energy sectors. 🎣 Attack Method: Phishing campaign via a disguised malicious file. 💥 Impact: Compromised critical offices crucial for national defense and IT governance. 🛡️ Response: Immediate investigation and heightened security measures. This breach serves as a stark reminder of the critical importance of advanced threat detection and response mechanisms in safeguarding national infrastructure. As cyber threats continue to advance, maintaining continuous vigilance and implementing robust cybersecurity strategies are paramount. For further insights on this breach, refer to the full report. #Cybersecurity #DataBreach #India #Infosec #CyberThreats

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*Real world cyber security challenges for security managers and CISOs: rarely discussed and acknowledged* These factors play pivotal role in organisation security posture irrespective of you are certified/regulated/audited organisation or not. Please feel free to add your view. 1)Unclear expectations from the business and the management. 2)No proper reporting structure of CISO function, involving dotted line reporting to more than one vertical. 3)CISO is not given enough designational power or autonomy to get the things done. 4)Considering CISO function as support/operational function. 5)Unrealistic expectations and ownership from CISO functions. 6)Reluctant/ Resistance to change approach. 7)No proper resource strength to carry out in-scope activities or not sufficiently budgeted team and not able to provide flexibility to retain the talent. #ciso #cybersecurity #organisationalsecurity #cybersecuritychallenges Image credit:unknown

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Discipline is the foundation of security, just as Brahmacharini symbolizes devotion and discipline in life. A disciplined approach to data access management is crucial for protecting your business. Implementing multi-factor authentication (MFA) and strict access controls can prevent unauthorized access to your sensitive data. This Navratri, commit to a disciplined cybersecurity routine to safeguard your digital assets. #Cybersecurity #Navratri2024 #Brahmacharini #DataSecurity #MFA #StaySecure #day2navratri

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#DiyakoSecureBow ———————————— CISO as A Service (vCISO) Analytics 2024 State of Threat and Exposure Management Report Special Thanks❤️😇👍🏽🙏 NopSec -Secure Business Continuity- 2024.11.09 —————————————————— #Mitre #Attack #CVE #CyberSecurity #vCISO #SecureBusinessContinuity

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Sebi introduces cyber #security, #cyber #resilience framework for all registered entities.Framework covers: 1.Cyber Risk Governance and Management Framework 2.Data classification and localization: To set up robust security controls for data generated / managed / processed by REs, CSCRF classifies data in two categories: ‘Regulatory Data’ and ‘IT and Cybersecurity Data’. While ‘Regulatory Data’ is mandatorily localized, dispensation for ‘IT and Cybersecurity Data’ for offshoring has been given with suitable guardrails. 3.Implementation of Security Operations Centre (SOC) and measuring its efficacy on a periodic basis 4.Guidelines for API security and mobile application security 5.Cyber Capability Index (CCI) to assess cyber resilience 6.Software Bill of Materials (SBOM) to mitigate supply chain risks https://lnkd.in/g98QDjmf

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SEBI's Cybersecurity and Cyber Resilience Framework (CSCRF) Insights SEBI's Cybersecurity and Cyber Resilience Framework (CSCRF), introduced in August 2024, sets clear guidelines to enhance the security posture of SEBI-regulated entities (REs), including stock exchanges, depositories, mutual funds, and other financial intermediaries. The framework focuses on cybersecurity (protecting systems and data) and cyber resilience (recovering from cyberattacks). Here's a summary with an example: Key Components of CSCRF: Comprehensive Cybersecurity Policy: REs must adopt a cybersecurity and resilience policy covering threat identification, risk management, response, and recovery. This ensures continuous protection across all IT systems. Risk Management Framework: Organizations must develop and implement a framework to regularly assess and manage cyber risks. Example: A stock exchange conducts risk assessments every quarter, identifying potential vulnerabilities in its trading systems, and implements countermeasures. Data Protection: REs are required to use Full-Disk Encryption (FDE) and File-based Encryption (FE) for sensitive data protection, both in storage and transmission. Example: A mutual fund company encrypts all client financial data and uses secure encryption protocols for online transactions to prevent unauthorized access. Security Operations Center (SOC): Larger REs must set up a SOC for real-time threat monitoring. Smaller entities can use Market SOCs established by the Bombay Stock Exchange (BSE) or National Stock Exchange (NSE) for their monitoring needs. Example: A depository sets up a SOC to monitor all incoming traffic for unusual activities, ensuring quick responses to potential security breaches. ISO 27001 Certification: Large entities must obtain ISO 27001 certification, which ensures adherence to international standards for information security management. Vulnerability Assessment & Red Teaming: REs must conduct Vulnerability Assessments and Penetration Testing (VAPT) regularly to identify potential weaknesses in their IT systems. Additionally, red teaming exercises (simulated cyberattacks) assess the organization's defensive capabilities. Example: A brokerage firm simulates a cyberattack on its trading platform, analyzing how well its defenses can handle the breach and where improvements are needed. Incident Response: REs must establish protocols for detecting, reporting, and recovering from cyber incidents. This ensures quick recovery and minimal business disruption in the event of a cyberattack. Example: In case of a data breach, a portfolio management service automatically triggers a response plan, including notifying SEBI and affected clients within a prescribed timeframe. Implementation Deadlines: Entities with existing cybersecurity policies must comply with the new framework by January 1, 2025, while newly regulated entities have until April 1, 2025.

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"Effective vulnerability management fosters continuous improvement and vigilance, enabling organizations to adapt to the evolving threat landscape." In her recent interview published in DQ CHANNELS , Sharda Tickoo discusses the role of #vulnerability management in maintaining #cybersecurity resilience, highlighting the importance of proactive measures and industry collaboration. Read here: https://bit.ly/3LSlBaQ #TrendMicro #Zeroday

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