Regulators, fin bodies discuss cybersecurity challenges
The need for enhanced forensic audit skills was highlighted as experts and stakeholders from the banking, finance and information technology sectors and government officials on Monday discussed emerging challenges and technologies to shore up cyber-security in the banking and financial sector.
Participating in a discussion on cybersecurity here, ahead of the G20 Finance Ministers meeting under India’s presidency, the representatives discussed a wide range of cybersecurity issues and ways to counter threats.
Addressing the meeting, Rohit Jain, executive director, Reserve Bank of India (RBI), said: “Increased adoption of zero-trust security models that require authentication and authorisation, along with other details, require enhanced focus. Today, security by design needs to be embedded as part of the banking systems and processes.”
While outlining the challenges and requirements of the sector in the tech age, Jain further said: “There is a growing demand for forensic audit skills as we currently lack talent that could effectively investigate or report any threat suitably.”
Jain added: “A platform like this, with the collaboration of several industry leaders and stakeholders, helps us in sharing information and build capacity.”