Search Result for : Cyber Security

The Dollar Business Bureau A major global cyber attack which disrupted Russia’s major oil company, Ukrainian banks and multinational banks, has affected the computer terminals at Jawaharlal Nehru Port Trust (JNPT), Mumbai, shutting down one out of its three operations. Sources from Press Trust of India report that the virus has affected many other terminals in the country. The powerful ransomware has impacted many central banks and large corporations in Europe. It has been rapidly spreading since Tuesday amidst growing concerns that many vital government infrastructure and networks are poorly equipped to deal with such an attack. It has been reported that many businesses in the Asia-Pacific region experienced disruptions due to the ransomware which has been code named as ‘Eternal Blue’ and ...

The Dollar Business Bureau          The IT industry should help India build a $1 trillion digital economy within four years by creating affordable technology and an inclusive environment, Union Minister Ravi Shankar Prasad said today at the High Level Round Table with Pioneers of Industry for developing the roadmap for ‘One Trillion Dollar Digital Economy of India’, organised by MeITY, in New Delhi. Highlighting multi-billion dollar opportunities that exist in areas like IT and IT enabled services, e-commerce, electronics manufacturing, digital payments and cyber security, he said that achieving $ 1 trillion digital economy is not a "tall claim". "I don't have any doubt that it will become $1 trillion in 7 years. My humble request is why wait for 7 ...

The Dollar Business Bureau  After completing his engagements in Germany, Prime Minister Narendra Modi arrived in Madrid, the capital of Spain, on the second leg of his four-nation, 6-day tour focussed at enhancing bilateral economic cooperation with these four nations and to invite more investments into India.  “Landed in Spain, marking the start of a very important visit aimed at improving economic and cultural relations with Spain,” Modi tweeted just after landing in Spain.  Modi will be the first Indian Prime Minister to visit Spain in around 30 years. The last one was in 1988 by the then Prime Minister Rajiv Gandhi. “Hola Espana! Prime Minister Modi arrives in Madrid, first visit by an Indian Prime Minister in nearly three decades, is received by ...

The Dollar Business Bureau Nasscom, belied the media reports about mass layoffs in the IT sector. Sounding optimistic the trade body said that the industry is likely to hire 1.5 lakh people on a net basis but the techies in the software industry have to re-equip themselves with skills relevant for the jobs in the market. There were reports in the media last week that around 50,000 techies could be laid off this year from companies like Infosys, Cognizant and Wipro. Reacting to the same Nasscom President R Chandrasekhar told the media, "we categorically reject the reports of mass layoffs in the sector. FY17 saw 1.7 lakh people being added, while in Q4 alone, the gross hiring was of over 50,000 by ...

PTI Indian computer systems largely escaped a global ransomware attack as the government and companies installed security patches to gain an upper hand against the first wave of an unrivalled global cyber attack. Over two lakh computers in at least 150 countries are said to have been infected, according to Europol, the European Union's law enforcement agency. In India, only a few isolated incidents in Kerala, Andhra Pradesh and Tamil Nadu were reported. National Informatics Centre, which manages government websites, and the Centre for Development of Advanced Computing installed security patches issued by Microsoft to immunise their Windows systems. Also, guidelines were issued to enable large IT networks to tackle the threat. "There is no major impact ...

Sairaj Iyer In these days of automation, claiming complete safety is foolishness. The open world-wide internet does not bestow that pretention to anybody more so to those offices of power that are vulnerable to cyber-attacks of all kinds. India recently witnessed two cyber-attacks where hackers could access valuable data stored in high-profile nationalized banks. It is rumored that post those cyber-attacks, fake trade documents were made, to raise money or facilitate large illegal deals abroad. Without any further delay, the Indian Prime Minister’s office signed MoU’s with the global internet security provider Kaspersky. According to Vicente Diaz, Kaspersky’s Principal Security Analyst based in Barcelona, we are living in a world of APTs (Advanced Persistent Threats) and ransomware. In fact, digital espionage ...

The Dollar Business Bureau CMAI Association of India (CMAI), which represents companies across ICT, telecom, and cyber security segments, said on Wednesday that the country needs separate laws and courts for digital payment issues together with an ‘appropriate legal framework’, as the digital payments witnessed a manifold growth after demonetisation. CMAI said there is a need for an appropriate legal framework to protect the consumers in case they lose their money in digital transactions. NK Goyal, President of CMAI, said, “As of now, India does not have appropriate laws in this regard. The only solution available is under the Information Technology (IT) Act 2000, which mainly deals with cyber thefts. All the cases of losing money during digital payments may not come under ...

PTI  President Barack Obama has warned that the US will retaliate against Russia for launching cyber attacks during the presidential election after the White House accused senior-most Russian officials of direct involvement in hacking. The outgoing US president said he was waiting for a final report he has ordered into a range of Russian hacking attacks that may have swayed last month's tight election in which Republican candidate Donald Trump defeated Democrat Hillary Clinton. "I think there is no doubt that when any foreign government tries to impact the integrity of our elections. That we need to take action and we will," Obama told the National Public Radio in an interview. "At a time and a place of our own choosing. ...