In today's dynamic business landscape, internal audit plays an even more critical role due to the complexities and the increased emphasis on cybersecurity. It goes beyond mere compliance and extends to strategic contributions for enhancing governance, risk management, and security. This comprehensive guide delves into the realm of internal audit, covering its definition, objectives, scope, procedures, best practices, and its impact on information security (infosec) and overall organizational performance.
Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps organizations accomplish their objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Internal auditors are responsible for providing insights, recommendations, and assurance on the organization's operations.
The primary objectives of internal audit are as follows:
To conduct effective internal audits, consider the following best practices:
COMPASS, a specialized lightweight platform, enhances your Internal Audit and external audit processes and user experience. Some of the benefits of using COMPASS include:
Internal audit is a crucial function that contributes to an organization's success by ensuring effective governance, risk management, and compliance. By following best practices, adopting a risk-based approach, and using data analytics, internal auditors can provide valuable insights and recommendations for process improvements. Whether you are an internal auditor, a member of senior management, or simply interested in understanding the inner workings of organizations, this guide provides a comprehensive overview of the significance and processes involved in internal audit. Embracing internal audit as a strategic asset can lead to better governance and ultimately improved organizational performance.
One of the key reasons for vulnerabilities in the applications are lack of secure design,
development, implementation, and operations. Insecure application development is a primary cause of cyberinfrastructure vulnerabilities. Relying solely on post-development audits for security is insufficient. Security should be an integral part of the application's design and development process, with built-in measures to guard against security breaches and exploitation.
Once secure application design and development guidelines are implemented, the application can undergo source-code reviews and black-box testing by a CERT-In empaneled auditing organization to detect any shortcomings or vulnerabilities in security practices.
As per the guidelines issued by the Indian Computer Emergency Response Team (CERT-In), organizations involved in application development, especially government entities, need to establish a strong and secure application security foundation during the development process.
Applications lacking secure design and development practices are not suitable for assessments and audits. Both auditee and auditor organizations must ensure that the application adheres to secure practices before starting any assessments.
This method is essential for guaranteeing the security of the application from the very beginning and progressively enhancing each stage of the application development lifecycle.
The main aim is to create systems that are inherently secure, resilient, and resistant to security
threats, vulnerabilities, and attacks. Organizations should incorporate security as a key component of the development process ensuring compliance with global standards. This reduces the likelihood of security breaches by protecting sensitive data and delivering secure and reliable software.
The secure software development life cycle (SDLC), an approach that integrates security practices throughout the life cycle, encompasses various models and frameworks, including -
Designers and developers involved in application development must possess a comprehensive understanding of the cyber security fundamentals and practical knowledge of the security principles governing secure application development.
Effective data protection and privacy require a comprehensive strategy. This includes integrating -
Adhering to these guidelines is paramount in our ever-evolving digital landscape. They fortify our applications against cyber threats by embedding security from project inception to the application's lifecycle. This commitment safeguards data, upholds user trust, and enhances digital security. Let these guidelines lead us to a safer digital future, laying the foundation for secure and resilient applications in a security-conscious world.
Application Programming Interface or API serves as a data connection that facilitates the sharing of data with other applications. In today's rapidly evolving digital landscape, Application Programming Interfaces (APIs) are pivotal in connecting various software applications, enabling seamless data exchange, and powering countless online services.
While APIs offer unparalleled efficiency and flexibility, they also introduce a significant security challenge. The importance of securing APIs cannot be overstated, as they serve as gateways to your digital assets and sensitive information.
APIs can simplify app development and integration of multiple product functionalities, saving time and money while providing a seamless user experience. While designing new tools and products, APIs provide flexibility, ease of usage and they play a central role in both mobile commerce and the Internet of Things (IoT).
Usage of APIs has increased significantly in the past few years. Akamai estimates that roughly 83% of internet traffic is being driven by APIs. Further, according to the Slashdata survey, which offers several granular insights into how developers use APIs, nearly 90% of developers are using APIs in some capacity.
With an exponential growth in the number of API calls, there is an aggressive increase in abuse of these APIs. Gartner predicts that 90% of web-enabled applications will have broader attack surfaces due to exposed APIs. The latest study from Imperva claims that vulnerable APIs are costing organizations between $40 and $70 billion annually.
Due to their direct access to extremely sensitive data and functionality, APIs are frequently cited as one of the primary security concerns that organizations face. APIs are changing the landscape of financial services and playing a critical role in the rise of Fintech and Open Banking. banks are in a position to provide better customer experience and develop new revenue streams by relying on banking APIs. APIs have opened doors to technologies such as P2P payments and cryptocurrency exchanges. However, with this rise of digitization and API usage in the financial sector along with the availability of sensitive customer information, the financial industry is also becoming a preferred target for API attacks. Indian Financial Sector since 2021 has observed a consistent rise in API attacks.
The most common API attacks can be listed as follows:
With the exponential growth in API usage, there has been a corresponding rise in API abuse. The transition from monolithic architectures to cloud-based microservices and containers has brought about a paradigm shift in development cycles but has also expanded the surface area of vulnerabilities exposed to the internet.
In the present day, APIs grant access to functionalities that were once confined within monolithic structures, resulting in a greater number of potential vulnerabilities to exploit. Additionally, the proliferation of endpoints available for interaction has amplified the attack surface. By following best practices for web application security and API security, you can significantly reduce the risk of attacks and enhance the overall security of your systems.
Lok Sabha passed the Digital Personal Data Protection Act – India (DPDP Act) - August 2023, India’s 2nd attempt in framing privacy legislation.
The Journey of the Bill
Aug 2017: Privacy as a fundamental right reaffirmed in Justice KS Puttaswamy vs Union of India by SC Justice Srikrishna Committee constituted to examine data protection issue
July 2018: Committee released a draft of the DPDP Bill and report
Dec 2017: The Joint Parliament Committee (JPC) released its report and new version of the law as the Data Protection Bill
Dec 2019: Revised draft bill sent to JPC
Aug 2022: Draft DPB Withdrawn
Nov 2022 Meity released a draft DPDP Bill for Public Consultation
July 2023: Union Cabinet approves the draft
Aug 2023: The Digital Personal Data Protection Act – India (DPDP Act) was passed and a law was initiated
Introduction to DPDP Act – August 2023
🔒 Introducing the Digital Personal Data Protection Act (DPDP) – Safeguarding Privacy in India 🇮🇳
In a significant stride towards bolstering digital privacy, India has unveiled the groundbreaking Digital Personal Data Protection Act (DPDP) in August 2023. This landmark legislation aims to empower individuals with greater control over their personal data while establishing stringent regulations for its collection, storage, and utilization by businesses and organizations.
Under the DPDP Act, entities collecting personal data are mandated to obtain explicit consent from users, outlining the purpose and duration of data usage. The Act also encompasses provisions for data localization, ensuring that critical personal data remains within Indian borders.
Furthermore, the DPDP Act introduces a Data Protection Authority (DPA) responsible for monitoring and enforcing compliance with the law. Non-compliance could result in substantial fines, emphasizing the government's commitment to fostering a responsible data ecosystem.
As the DPDP Act comes into effect, it heralds a new era of digital privacy, giving citizens greater control and confidence in their online interactions.
What are the key features of the bill?
| Penalty | Reason |
| Rs 200 crore | Non fulfilment of obligations for children |
| Rs 250 crore | Failure to take security measures to prevent data breaches |
India's digital payment ecosystem has witnessed exponential growth in recent years, providing convenience and accessibility to millions of users. However, as the digital landscape expands, so does the need for robust cybersecurity measures. To address this critical aspect, the Reserve Bank of India (RBI) has introduced a draft master direction that covers various domains of cyber resilience and digital payment security. This blog explores the key areas emphasized in the draft and the significance they hold in developing a secure digital payment ecosystem in India.
| Regulated Entity | Entities applicable for | Timeline for implementation |
| Large non-bank PSOs | Clearing Corporation of India Limited (CCIL), National Payments Corporation of India (NPCI), NPCI Bharat Bill Pay Limited, Card Payment Networks, Non-bank ATM Networks, White Label ATM Operators (WLAOs), Large PPI Issuers, Trade Receivables Discounting System (TReDS) Operators, Bharat Bill Payment Operating Units (BBPOUs) and Payment Aggregators (PAs) | 1st April 2024 |
| Medium non-bank PSOs | Cross-border (in-bound) Money Transfer Operators under Money Transfer Service Scheme (MTSS) and Medium PPI Issuers | 1st April 2026 |
| Small non-bank PSOs | Small PPI Issuers and Instant Money Transfer Operators | 1st April 2028 |
The draft directions aim to provide a comprehensive framework for the governance, risk management, security controls, incident response, audit and compliance of the PSOs with respect to cyber resilience and digital payment security. They also specify baseline security measures for ensuring safe and secure digital payment transactions, such as encryption, authentication, access control, monitoring and reporting.
To effectively manage information security risks, PSOs must establish a proactive approach at the highest level of governance. The Board of Directors assumes the responsibility of overseeing information security risks, including cyber risk and cyber resilience. A board-approved Information Security (IS) policy should be formulated, covering all applications and products related to payment systems. This policy will serve as a roadmap for managing potential risks and addressing any materialized threats.
PSOs need to develop a robust risk management framework to identify, assess, monitor, and manage cybersecurity risks. Periodic risk assessments should be conducted to identify the sources and magnitude of cyber threats and vulnerabilities. These assessments will enable PSOs to implement appropriate risk mitigation measures, thereby reducing the potential impact of security incidents.
Implementing adequate security controls is crucial for protecting the confidentiality, integrity, and availability of information assets and payment systems. PSOs must establish a comprehensive set of security controls covering various aspects, such as physical security, network security, application security, data security, endpoint security, cloud security, cryptography, identity and access management, malware protection, patch management, backup and recovery. These controls work in tandem to create multiple layers of defense against potential threats.
PSOs should establish an effective incident response mechanism to detect, contain, analyze, respond to, and recover from cyber incidents. Swift detection and containment of incidents can help minimize their impact. PSOs must also adhere to prescribed timelines and formats to report cyber incidents to regulatory authorities, such as the RBI. Conducting thorough root cause analysis enables PSOs to identify vulnerabilities and implement corrective and preventive measures to prevent similar incidents in the future.
Regular internal and external audits are essential to assess the adequacy and effectiveness of a PSO's cyber resilience and digital payment security framework. Audits should encompass all aspects of the framework, including policies, procedures, processes, systems, controls, and compliance. The findings and recommendations from these audits serve as valuable inputs for the Board and senior management to take necessary actions and strengthen the security posture further.
Adhering to applicable laws, regulations, standards, and guidelines is a fundamental aspect of cyber resilience and digital payment security. PSOs must ensure compliance and proactively monitor changes in the regulatory landscape. Regular updates to the framework based on evolving requirements will help maintain a robust security posture. PSOs should submit periodic compliance reports to regulatory authorities, such as the RBI, as per the prescribed frequency and format.
RBI aims to mitigate cyber risks and promote a culture of cyber resilience among PSOs. Implementing these measures will help safeguard customer data, prevent cyber incidents, and foster trust in digital payment systems, contributing to the nation's digital transformation journey.
Establishing a strong cybersecurity framework is imperative for Payment System Operators to ensure cyber resilience and protect digital payment systems. By implementing effective governance, robust risk management practices, comprehensive security controls, efficient incident response mechanisms, thorough audits, and strict compliance measures, PSOs can mitigate risks and enhance the security of payment systems. This comprehensive approach strengthens the trust of customers and stakeholders in the digital payment ecosystem, paving the way for secure and seamless transactions in the digital era.
Please reach out to us to know more about this at [email protected]
Passkeys are a promising new technology that has the potential to make online security much stronger and user experience simpler.
Passkeys are a significant improvement over passwords. They are faster, more secure, and more convenient. Many brands will follow in supporting passkeys. I expect passkeys to become the standard for login security in the near future like how 2FA was adopted in the past.
Designate a specific mobile device with good biometrics as your go-to authenticator using passkeys. Also, you can easily transfer your passkeys to the new device (whenever you upgrade).
Overall, Passkeys are a much more secure and convenient way to sign in to websites and apps. Looks like the future of password-less authentication.
Will passkeys be the future? Let us know: Contact us. We are a CERT-IN Empanelled cyber security company based out of Bangalore. We are a CERT-IN Empanelled cyber security company based out of Bangalore.
The cybersecurity landscape is constantly evolving, and CISOs need to be prepared to defend against increasingly sophisticated attacks.
1. Safeguard critical infrastructure from advanced attacks: CISOs must prioritize the protection of vital systems such as power grids, water networks, and transportation infrastructures, which face an escalating risk of cyber attacks.
2. Minimize the attack surface: CISOs should focus on reducing vulnerabilities within their organization by identifying and resolving potential entry points that can be exploited by attackers.
3. Enhance security awareness and training: Recognizing that employees are often the weakest link in security, CISOs need to concentrate on improving security awareness and providing comprehensive training programs to empower employees in identifying and mitigating security threats.
4. Embrace security automation: CISOs can enhance operational efficiency and effectiveness by implementing automation solutions for tasks like vulnerability scanning and incident response. This allows CISOs to dedicate more time to strategic initiatives.
5. Foster a robust security culture: Establishing a strong security culture is imperative for organizations to defend against cyber threats. CISOs should collaborate with leadership and employees to cultivate an environment of heightened security awareness and individual responsibility.
a) The increasing prominence of artificial intelligence (AI) and machine learning (ML) technologies.
b) The growing adoption of cloud computing services.
c) The proliferation of Internet of Things (IoT) devices.
d) The escalating frequency of cyber attacks targeting small and medium-sized businesses (SMBs).
By effectively addressing these challenges, CISOs can position their organizations to successfully mitigate cyber threats in 2023 and beyond.
What are your top cybersecurity priorities for 2023? Let us know: Contact us
RBI/2023-24/102
DoS.CO.CSITEG/SEC.1/31.01.015/2023-24 10th April 2023
Summary of the Circular:
Regulated Entities (REs) outsource a substantial portion of their IT activities to third parties, which exposes them to various risks. In order to ensure effective management of such risks, RBI issued a draft Master Direction on Outsourcing IT Services in June 2022. Based on the feedback received, RBI released a finalized version of Master Direction on Outsourcing of Information Technology Services on April 10, 2023.
Applicability of the Circular:
These Directions shall be applicable to the following entities, collectively referred to as ‘regulated entities’ or ’REs’:
Implementation Schedule for the Circular:
The master directions shall be effective from 1st October 2023.
Key Pointers from the Master Direction:
Portfolio managers are professionals/ entities responsible for managing investment portfolios on behalf of clients or organizations. They make investment decisions based on market research, risk assessment, and the client's objectives. Their goal is to maximize returns while minimizing risk by diversifying the portfolio across various asset classes.
Portfolio managers work closely with their clients to understand their financial goals, risk tolerance, and investment preferences. Then, they use this information to construct a customized portfolio that meets the client's specific needs. Depending on the size of the portfolio and the complexity of the investments involved, portfolio managers may work independently or as part of a larger team of investment professionals. Overall, the role of a portfolio manager is to help clients achieve their financial goals through a carefully constructed and diversified investment portfolio that balances risk and return.
It applies to all the portfolio managers with assets under management of INR 3000 crore or more under discretionary and non-discretionary portfolio management services taken together, as on the last date of the previous calendar month should comply with the provisions of Cyber Security and Cyber Resilience.
Discretionary portfolio management is where the portfolio manager has full authority to buy and sell securities on behalf of the client without needing their approval for each transaction. The manager creates a customized portfolio based on the client's objectives, risk tolerance, and preferences, using their own analysis of market conditions and economic trends.
Non-discretionary portfolio management service, on the other hand, is a type of investment management service where the portfolio manager makes investment recommendations to the client, but the client retains ultimate decision-making authority for each transaction. In this type of service, the portfolio manager provides investment advice and suggestions to the client, but the client must approve each transaction before it is executed.
The rapid advancement of technology in the securities market highlights the importance of maintaining strong cyber security measures and implementing a cyber-resilience framework to safeguard data integrity and prevent privacy breaches. Robust cyber security and resilience are crucial components of operational risk management, especially for Portfolio Managers who must provide essential services and perform critical functions in the securities market.
The guidelines annexed in the circular shall be effective from 1st October 2023.
Conclusion:
In conclusion, the Securities and Exchange Board of India (SEBI) has issued a circular requiring portfolio manager with assets under management of INR 3000 crore or more under discretionary and non-discretionary portfolio management services to comply with the provisions of Cyber Security and Cyber Resilience. Portfolio managers play a crucial role in managing investment portfolios on behalf of clients, and their goal is to maximize returns while minimizing risk by diversifying the portfolio across various asset classes. Discretionary portfolio management is where the portfolio manager has full authority to buy and sell securities on behalf of the client without needing their approval for each transaction. Non-discretionary portfolio management service, on the other hand, is a type of investment management service where the portfolio manager makes investment recommendations to the client, but the client retains ultimate decision-making authority for each transaction.
The circular emphasizes the need for a strong cybersecurity and cyber resilience framework to safeguard data integrity and prevent privacy breaches, given the rapid advancement of technology in the securities market. The circular also provides guidelines for portfolio managers to articulate a comprehensive cybersecurity and cyber resilience policy document based on the guidelines listed in the annexure. The key pointers from the annexure include governance, identification, access control, network security management, and security of data. The circular will be effective from 1st October 2023.
In summary, the circular is a significant step in ensuring that portfolio managers have a robust cybersecurity and cyber resilience framework in place to manage their clients' investment portfolios. The guidelines provided in the annexure will help portfolio managers to identify and classify critical assets, establish strong access controls, implement network security management, and ensure the security of data. By complying with the provisions of Cyber Security and Cyber Resilience, portfolio managers can provide essential services and perform critical functions in the securities market while minimizing risks and maximizing returns.
GISEC 2023 is one of the largest cybersecurity events in the world, set to take place in Dubai on March 14, 2023 to March 16, 2023. This event is significant in the field of cybersecurity because it brings together cybersecurity experts, industry leaders, and innovators from around the world to discuss the latest cybersecurity threats, challenges, and solutions. GISEC 2023 is an opportunity for attendees to learn about emerging cybersecurity technologies, network with industry leaders, and gain insights into the future of cybersecurity. The event provides a platform for organizations to showcase their innovative cybersecurity solutions, collaborate with peers, and develop strategies to strengthen their cybersecurity defenses.
The GISEC 2023 event is scheduled to be held in Dubai World Trade Center, United Arab Emirates, on 14, 2023 to March 16, 2023.
Cybersecurity threats and challenges faced by organizations have been on the rise in recent years. With the increasing digitization of businesses and the growing number of devices connected to the internet, cybercriminals have more opportunities to exploit vulnerabilities and steal sensitive data.
Phishing and social engineering attacks: Cybercriminals use social engineering tactics to trick individuals into divulging sensitive information such as passwords or credit card details.
Malware attacks: Malware is malicious software that can infect computers and other devices, compromising their security and allowing cybercriminals to steal sensitive data.
Ransomware attacks: Ransomware is a type of malware that encrypts the victim's data, making it inaccessible, and then demands payment in exchange for the decryption key.
Insider threats: Employees or other insiders may intentionally or unintentionally compromise organizational security by accessing sensitive data or sharing confidential information.
Third-party risks: Organizations are increasingly reliant on third-party vendors and partners for various services, and these relationships can introduce cybersecurity risks.
Advanced persistent threats: Advanced persistent threats (APTs) are complex, targeted attacks that can go undetected for long periods, allowing cybercriminals to steal sensitive information or cause significant damage.
These and other cybersecurity threats and challenges make it essential for organizations to have effective cybersecurity defenses in place. Traditional security measures such as firewalls and antivirus software are no longer enough, and organizations must adopt innovative solutions to keep up with evolving cyber threats.
Traditional cybersecurity solutions, such as firewalls and antivirus software, have been the standard approach to protect organizations from cyber threats for many years. However, they have limitations that make them insufficient for dealing with today's sophisticated cyber-attacks. Some of these limitations include:
Inability to detect and prevent new and advanced threats: Traditional security solutions are designed to detect known threats, but they often fail to detect new and advanced threats that use sophisticated techniques such as polymorphism and obfuscation.
Limited visibility: Traditional security solutions often lack visibility into the entire network, including endpoints, servers, and cloud environments, making it difficult to detect and respond to threats across the entire attack surface.
Reactive approach: Traditional security solutions are often reactive, meaning they identify and respond to threats after they have already infiltrated the system. This can result in significant damage and data loss before the threat is detected and contained.
Lack of integration and automation: Traditional security solutions may not be integrated with each other or other IT systems, making it difficult to manage and respond to threats in a timely manner. Additionally, the lack of automation can lead to delays in threat detection and response.
Innovative cybersecurity solutions are needed to overcome these limitations and effectively protect organizations from today's sophisticated cyber threats. Innovative solutions such as artificial intelligence, machine learning, and automation can improve threat detection and response times, provide greater visibility into the entire network, and enable proactive threat prevention. For example, advanced threat detection systems that use machine learning algorithms can analyze large amounts of data to identify patterns and anomalies that may indicate a threat, enabling security teams to respond quickly and effectively.
Furthermore, cloud-based security solutions and identity and access management solutions can provide greater visibility and control over the entire network, including cloud environments and mobile devices. By adopting innovative cybersecurity solutions, organizations can stay ahead of evolving threats and protect their critical assets and data.
Innovative cybersecurity solutions have the potential to offer a range of benefits for organizations, including:
Improved threat detection and response times: Innovative solutions such as artificial intelligence, machine learning, and automation can help organizations detect and respond to threats more quickly and effectively than traditional security solutions.
Greater visibility and control over the entire network: Cloud-based security solutions and identity and access management solutions can provide greater visibility and control over the entire network, including cloud environments and mobile devices.
Proactive threat prevention: Innovative solutions can enable proactive threat prevention by identifying and remediating vulnerabilities before they can be exploited by cybercriminals.
Better compliance with regulations and standards: Innovative solutions can help organizations comply with regulations and standards such as the General Data Protection Regulation (GDPR) and the Payment Card Industry Data Security Standard (PCI DSS).
Reduced costs: Innovative solutions can help organizations reduce costs associated with cybersecurity by automating manual processes and reducing the need for human intervention.
Increased scalability and flexibility: Cloud-based security solutions can provide organizations with increased scalability and flexibility by allowing them to easily scale their security infrastructure up or down as needed.
Overall, innovative cybersecurity solutions can help organizations improve their security posture, reduce risk, and protect their critical assets and data from cyber threats.
GISEC 2023 is a major cybersecurity event scheduled to take place in Dubai on March 14, 2023 to 16 2023. The theme of the event is "Shaping the Future of Cybersecurity with Innovative Solutions", and its goal is to explore the latest trends and best practices in cybersecurity, with a focus on innovative solutions that can help organizations stay ahead of evolving cyber threats.
The event aims to bring together leading cybersecurity experts, thought leaders, and solution providers from around the world to share their insights, experiences, and ideas. Attendees will have the opportunity to learn about the latest cybersecurity technologies and solutions, network with peers, and attend keynote speeches, panel discussions, and other sessions focused on cybersecurity topics.
GISEC 2023 will cover a range of topics related to cybersecurity, including cloud security, data protection, threat intelligence, identity and access management, and incident response. The event will also feature sessions on emerging technologies such as artificial intelligence, machine learning, and blockchain, and how they can be used to improve cybersecurity.
Overall, the goal of GISEC 2023 is to provide attendees with a comprehensive understanding of the latest cybersecurity trends and best practices, as well as the opportunity to connect with peers and solution providers to help them enhance their cybersecurity posture and protect their organizations from cyber threats.
GISEC 2023 will offer a wide range of sessions, workshops, and exhibitions focused on various aspects of cybersecurity. Some of the key sessions and workshops that attendees can expect to see at the event include:
Keynote speeches: The event will feature keynote speeches from leading cybersecurity experts, offering insights into the latest trends and best practices in the field.
Panel discussions: Panel discussions will cover a variety of topics related to cybersecurity, such as cloud security, data protection, threat intelligence, and incident response. These sessions will offer attendees the opportunity to learn from experts and ask questions.
Technical workshops: Technical workshops will provide attendees with hands-on training on specific cybersecurity technologies and solutions, such as threat detection and response, identity and access management, and cloud security.
Product demonstrations: Exhibitors at the event will showcase their latest cybersecurity products and solutions, giving attendees the opportunity to see these products in action and learn more about their features and capabilities.
Networking events: GISEC 2023 will offer several networking events, such as receptions and coffee breaks, providing attendees with the opportunity to connect with peers and solution providers and discuss cybersecurity issues and trends.
Start-up pavilion: A dedicated pavilion will showcase innovative cybersecurity start-ups, allowing attendees to discover new and emerging technologies and solutions.
Overall, GISEC 2023 will provide attendees with a comprehensive view of the latest cybersecurity trends and best practices, as well as the opportunity to connect with peers and solution providers, learn about the latest cybersecurity products and solutions, and participate in hands-on training and technical workshops.
As GISEC 2023 is still a future event, the information about keynote speakers and their areas of expertise is not yet available. However, it is expected that the event will feature some of the world's leading cybersecurity experts and thought leaders who will share their insights and experiences on a range of cybersecurity topics.
In previous years, GISEC has featured keynote speakers such as Eugene Kaspersky, the founder and CEO of Kaspersky Lab, and Bruce Schneier, a renowned security technologist and author. These speakers have discussed a range of topics related to cybersecurity, including the future of cybersecurity, emerging threats, and the importance of collaboration in fighting cybercrime.
It is likely that GISEC 2023 will feature keynote speakers with similar expertise and insights. The organizers of the event are expected to announce the list of keynote speakers closer to the event date, and attendees can look forward to hearing from some of the most respected and knowledgeable experts in the field.
As GISEC 2023 is still a future event, specific information about the innovative cybersecurity solutions that will be showcased at the event is not yet available. However, based on previous years, it is expected that the event will feature a range of innovative cybersecurity solutions from leading solution providers.
Threat intelligence platforms: These solutions use artificial intelligence and machine learning to provide real-time insights into emerging cyber threats, allowing organizations to proactively protect against attacks.
Identity and access management solutions: These solutions use advanced authentication and authorization techniques to ensure that only authorized users can access sensitive data and systems.
Cloud security solutions: These solutions provide advanced security features for cloud-based applications and services, such as encryption, access control, and monitoring.
Incident response solutions: These solutions provide automated incident response capabilities, enabling organizations to quickly detect and respond to cyber-attacks.
Security analytics platforms: These solutions use advanced analytics and machine learning to analyze security data and identify potential threats, helping organizations to detect and respond to cyber-attacks more quickly and effectively.
Blockchain-based security solutions: These solutions leverage blockchain technology to secure data and transactions, offering advanced security features such as decentralized authentication and data immutability.
Overall, GISEC 2023 is expected to showcase a range of innovative cybersecurity solutions from leading solution providers, providing attendees with the opportunity to learn about the latest technologies and solutions and explore how they can be used to enhance their cybersecurity posture and protect their organizations from cyber threats.
The innovative cybersecurity solutions showcased at GISEC 2023 can help address the current cybersecurity challenges faced by organizations in several ways.
First, threat intelligence platforms can provide organizations with real-time insights into emerging cyber threats, allowing them to proactively protect against attacks. By using artificial intelligence and machine learning to analyze security data, these platforms can identify patterns and trends that may indicate a potential attack and alert security teams before any damage is done. This can help organizations stay one step ahead of cybercriminals and prevent attacks from occurring.
Second, identity and access management solutions can help address the challenge of securing access to sensitive data and systems. These solutions use advanced authentication and authorization techniques to ensure that only authorized users can access sensitive data and systems. By implementing these solutions, organizations can reduce the risk of data breaches caused by unauthorized access or stolen credentials.
Third, cloud security solutions can help address the challenge of securing cloud-based applications and services. These solutions provide advanced security features such as encryption, access control, and monitoring to protect against attacks on cloud infrastructure. As more organizations move their data and applications to the cloud, cloud security solutions are becoming increasingly important to ensure that sensitive data is protected.
Fourth, incident response solutions can help organizations quickly detect and respond to cyber-attacks. By automating incident response processes, organizations can reduce response times and minimize the damage caused by an attack. These solutions can also help organizations better understand the scope and impact of an attack, allowing them to take steps to prevent similar attacks from occurring in the future.
Fifth, security analytics platforms can help organizations analyze security data and identify potential threats. By using advanced analytics and machine learning, these platforms can detect patterns and anomalies in security data that may indicate a potential attack. This can help organizations detect and respond to attacks more quickly and effectively.
Finally, blockchain-based security solutions can help address the challenge of securing data and transactions. By leveraging blockchain technology, these solutions can provide advanced security features such as decentralized authentication and data immutability. This can help ensure that data and transactions are tamper-proof and secure, reducing the risk of data breaches and other cyber-attacks.
Overall, the innovative cybersecurity solutions showcased at GISEC 2023 can help address the current cybersecurity challenges faced by organizations by providing advanced security features, automation, and real-time threat intelligence. By implementing these solutions, organizations can enhance their cybersecurity posture and better protect themselves against the evolving threat landscape.
The potential impact of the innovative cybersecurity solutions showcased at GISEC 2023 on the future of cybersecurity is significant. These solutions have the potential to transform the way organizations approach cybersecurity and enable them to better protect themselves against the evolving threat landscape.
One of the key benefits of these solutions is that they use advanced technologies such as artificial intelligence, machine learning, and blockchain to provide enhanced security features and automate cybersecurity processes. By leveraging these technologies, organizations can more effectively detect, prevent, and respond to cyber-attacks, reducing the risk of data breaches and other security incidents.
Another important impact of these solutions is that they can help organizations stay one step ahead of cybercriminals. By providing real-time threat intelligence and analysis, these solutions can help organizations identify and respond to emerging threats before they can cause damage. This proactive approach to cybersecurity is becoming increasingly important as cyber threats become more sophisticated and difficult to detect.
In addition, these solutions can help organizations achieve compliance with regulatory requirements and industry standards. By providing advanced security features and automated processes, these solutions can help organizations demonstrate their commitment to cybersecurity and meet the requirements of regulations such as GDPR, HIPAA, and PCI DSS.
Overall, the innovative cybersecurity solutions showcased at GISEC 2023 have the potential to significantly enhance the cybersecurity posture of organizations and enable them to better protect themselves against the evolving threat landscape. By leveraging advanced technologies and proactive approaches to cybersecurity, these solutions can help organizations stay ahead of the curve and better respond to the ever-changing threat landscape.
The future of cybersecurity is one that is constantly evolving and adapting to new threats and technologies. As more organizations rely on digital systems to conduct business and store sensitive data, the need for effective cybersecurity solutions will only continue to grow.
Innovative cybersecurity solutions have the potential to shape the future of cybersecurity by providing new and advanced ways to detect, prevent, and respond to cyber threats. These solutions leverage technologies such as artificial intelligence, machine learning, and blockchain to provide enhanced security features and automate cybersecurity processes.
One important trend that is shaping the future of cybersecurity is the rise of cloud computing. As more organizations move their data and applications to the cloud, the need for effective cloud security solutions is becoming increasingly important. Innovative solutions such as cloud access security brokers (CASBs) and cloud security posture management (CSPM) platforms are emerging to provide advanced security features for cloud environments.
Another trend that is shaping the future of cybersecurity is the increasing use of internet of things (IoT) devices. These devices are becoming more prevalent in homes and businesses, and are often connected to the internet and other devices. This presents new security challenges and the need for innovative solutions such as IoT security platforms to secure these devices and the data they generate.
Finally, the increasing sophistication of cyber threats is also shaping the future of cybersecurity. Cybercriminals are constantly developing new techniques and tactics to breach security defenses and steal sensitive data. As a result, innovative solutions such as threat intelligence platforms and security analytics platforms are becoming increasingly important to detect and respond to these threats.
In summary, the future of cybersecurity is one that is constantly evolving and adapting to new threats and technologies. Innovative solutions have the potential to shape the future of cybersecurity by providing new and advanced ways to detect, prevent, and respond to cyber threats. By leveraging these solutions, organizations can better protect themselves against the evolving threat landscape and stay ahead of the curve.
There are several emerging technologies that have the potential to enhance cybersecurity, including:
Artificial Intelligence (AI) and Machine Learning (ML): AI and ML can be used to analyze vast amounts of data to identify patterns and anomalies, making it easier to detect and respond to cyber threats in real-time. For example, AI-powered security analytics platforms can detect and respond to threats faster and more accurately than traditional security solutions.
Blockchain: Blockchain technology can be used to enhance the security of data and transactions by creating a tamper-proof digital ledger. This makes it more difficult for cybercriminals to tamper with data or steal sensitive information.
Quantum Computing: Quantum computing has the potential to revolutionize cybersecurity by providing much faster and more secure encryption methods. For example, quantum cryptography can provide a highly secure method of communication that is resistant to eavesdropping.
Biometric Authentication: Biometric authentication, such as facial recognition and fingerprint scanning, can be used to enhance security by providing a more secure and convenient method of user authentication. Biometric authentication is more difficult to fake or steal than traditional passwords.
Internet of Things (IoT) Security: As more IoT devices are connected to the internet, there is an increasing need for innovative solutions to secure these devices and the data they generate. Emerging technologies such as blockchain and edge computing can be used to provide secure and decentralized IoT networks.
In summary, there are many emerging technologies that have the potential to enhance cybersecurity by providing more secure and efficient methods of detecting and responding to cyber threats. By leveraging these technologies, organizations can better protect themselves against the evolving threat landscape and stay ahead of the curve.
Collaboration and knowledge sharing are essential in the field of cybersecurity as cyber threats continue to become more sophisticated and widespread. No single organization or individual has all the knowledge or resources to defend against cyber-attacks alone. Therefore, collaboration and knowledge sharing between organizations, governments, and cybersecurity experts is critical to staying ahead of the evolving threat landscape.
One of the main reasons collaboration is important is that cyber threats are often not limited to a single organization or industry. Cybercriminals can target any organization with valuable data or assets, and the consequences of a successful attack can be far-reaching. By collaborating and sharing threat intelligence, organizations can better understand the tactics and techniques used by cybercriminals and develop more effective defenses.
Collaboration can also help organizations to overcome some of the common challenges associated with cybersecurity, such as a shortage of skilled cybersecurity professionals and limited budgets. By working together, organizations can pool their resources and expertise to develop more effective cybersecurity solutions and share the costs of implementing them.
In addition to collaboration, knowledge sharing is also essential in the field of cybersecurity. Cyber threats are constantly evolving, and staying up-to-date with the latest threats and best practices is critical to developing effective cybersecurity strategies. By sharing knowledge and best practices, organizations can learn from each other's successes and failures, and adapt their strategies accordingly.
Another benefit of knowledge sharing is that it can help to raise awareness about cybersecurity among employees and the general public. Cybersecurity is not just the responsibility of IT professionals, but also of every individual who uses technology. By educating employees and the public about cybersecurity risks and best practices, organizations can help to create a culture of cybersecurity awareness.
In summary, collaboration and knowledge sharing are essential in the field of cybersecurity to overcome common challenges, develop more effective defenses, and stay ahead of the evolving threat landscape. By working together and sharing knowledge and resources, organizations can better protect themselves and their stakeholders from the growing cyber threats.
GISEC 2023 is an important event in the field of cybersecurity as it provides a platform for organizations, cybersecurity experts, and governments to come together and collaborate on innovative solutions to the growing cyber threat landscape. The event highlights the limitations of traditional cybersecurity solutions and emphasizes the need for innovative approaches to overcome these challenges.
GISEC 2023 showcases a range of emerging technologies and solutions that have the potential to enhance cybersecurity, such as AI, blockchain, and biometric authentication. By providing a platform for organizations to showcase their latest cybersecurity solutions, GISEC 2023 helps to raise awareness about the latest developments in the field and facilitates knowledge sharing and collaboration.
Moreover, GISEC 2023 provides an opportunity for attendees to learn from cybersecurity experts and industry leaders through various sessions, workshops, and exhibitions. The event highlights the importance of collaboration and knowledge sharing in the field of cybersecurity, as no single organization or individual has all the knowledge or resources to defend against cyber-attacks alone.
Overall, GISEC 2023 plays a significant role in shaping the future of cybersecurity by providing a platform for collaboration, knowledge sharing, and showcasing innovative cybersecurity solutions. The event helps to raise awareness about the evolving threat landscape and the need for organizations to adopt innovative approaches to stay ahead of the curve.
I strongly encourage anyone interested in the field of cybersecurity to attend GISEC 2023 or stay updated on the latest developments in cybersecurity innovation. This event provides a unique opportunity to learn from cybersecurity experts, industry leaders, and peers in the field. By attending, you will have access to a wide range of sessions, workshops, and exhibitions showcasing the latest cybersecurity solutions and emerging technologies.
Moreover, staying up-to-date on the latest developments in cybersecurity innovation is essential to staying ahead of the evolving threat landscape. Cyber threats continue to become more sophisticated and widespread, and organizations must adopt innovative approaches to defend against these threats effectively. GISEC 2023 is an excellent way to stay informed about the latest developments in cybersecurity innovation and learn from experts in the field.
Attending GISEC 2023 or staying updated on the latest developments in cybersecurity innovation can help you enhance your knowledge and skills in the field. It can also help you develop effective cybersecurity strategies and solutions to better protect your organization or yourself from cyber threats. Don't miss this opportunity to be part of the future of cybersecurity.
Visit CyRAACS at GISEC 2023, at Start-up Pod SP9, Hall No. 4, indulge in exciting games and win fabulous prizes!
In today's dynamic business landscape, organizations face an ever-increasing array of challenges, from regulatory compliance and cybersecurity threats to operational risks and data privacy concerns. To navigate these treacherous waters, companies must implement a holistic approach to governance, risk management, and compliance (GRC). This journey toward achieving effective GRC can be likened to setting sail […]
Information security is a critical concern for organizations in the digital age, as the proliferation of data and technology brings new vulnerabilities and threats. To safeguard sensitive information, organizations must conduct information security risk assessments. This comprehensive guide will walk you through the key steps and best practices involved in conducting an effective information security […]
1. Purchasing ISO 27001 document – Your organization must purchase the ISO 27001 document and understand how to implement a structed ISMS for your organization. This will help your organization to understand why the controls are necessary and how they can be implemented to mitigate risks. 2. Gap Analysis - Before ISO 27001 certification, a […]
In the age of digitalization, where personal data has become a valuable commodity, the need for robust data protection laws has become increasingly crucial. Recognizing this need, India has enacted the Digital Personal Data Protection Act, 2023 (DPDPA), marking a significant milestone in the country's data privacy landscape. This comprehensive law aims to empower individuals […]
Introduction The General Data Protection Regulation is a law that was enacted in 2018, it has transformed the way businesses worldwide handle and protect personal data. With stringent requirements for data privacy and security, GDPR compliance is essential for organizations that collect, process, or store personal data of individuals in the European Union (EU), also […]
Introduction In today’s ever-evolving cyber and risk landscape, information security has come to the forefront to combat the sophistication of cyberattacks and the constantly changing technology framework. Two widely recognized information security standards stand out in this arena: ISO 27001 and SOC 2. Both ISO 27001 and SOC2 provide companies with strategic frameworks and standards […]
Embarking on the journey of Governance, Risk Management, and Compliance (GRC) is a significant step for any organization in today's complex and highly regulated business environment. To thrive and ensure sustainable growth, businesses must proactively address governance issues, manage risks, and meet compliance requirements. In this article, we will guide you through the crucial steps […]
In the ever-evolving realm of cybersecurity, organizations face an unceasing challenge to secure their digital fortresses. A mid-sized financial services firm prides itself on its commitment to safeguarding customer data and financial assets. However, recent cyber threats have escalated, and the firm is keen to ensure that its cybersecurity defences remain resilient. In this scenario, […]
In today's digital age, where data is the lifeblood of business operations, protecting sensitive financial information has never been more critical. The Payment Card Industry Data Security Standard (PCI DSS) was established to ensure the secure handling of card data, and compliance with this standard is mandatory for any organization that processes cardholder information. Achieving […]
In the ever-evolving world of IT, security has become a necessity more than a precautionary decision or a luxury that most organizations overlook. With the ever-increasing sophistication of cyberattacks, businesses are constantly seeking ways to safeguard their sensitive information and protect their customers' trust. Two widely recognized information security standards stand out in this arena: […]
In today's dynamic business landscape, internal audit plays an even more critical role due to the complexities and the increased emphasis on cybersecurity. It goes beyond mere compliance and extends to strategic contributions for enhancing governance, risk management, and security. This comprehensive guide delves into the realm of internal audit, covering its definition, objectives, scope, […]
One of the key reasons for vulnerabilities in the applications are lack of secure design,
development, implementation, and operations.
Application Programming Interface or API serves as a data connection that facilitates the sharing of data with other applications.
Lok Sabha passed the Digital Personal Data Protection Act – India (DPDP Act) - August 2023 , India’s 2nd attempt in framing a privacy legislation.
The Reserve Bank of India (RBI) has introduced a draft master direction that covers various domains of cyber resilience and digital payment security.
Passkeys are a significant improvement over passwords. They are faster, more secure, and more convenient.
The cybersecurity landscape is constantly evolving, and CISOs need to be prepared to defend against increasingly sophisticated attacks.
Regulated Entities (Res) outsource a substantial portion of their IT activities to third parties, which exposes them to various risks. RBI released a finalized version of Master Direction on Outsourcing of Information Technology Services on April 10, 2023.
Portfolio managers work closely with their clients to understand their financial goals, risk tolerance, and investment preferences.
The GISEC 2023 event is scheduled to be held in Dubai World Trade Center, United Arab Emirates, on 14, 2023 to March 16, 2023.
The RBI announced the launch of the first pilot for retail digital Rupee (e₹-R) on December 01, 2022. It has commenced the pilot in the wholesale segment from November 2022.
An Account Aggregator shall transmit the financial data pertaining to the user only after receiving formal consent from the user
APIs are the backbone of the internet, powering the applications and services that we use every day
In order to protect your business from common cybersecurity threats, it is important to be aware of the different types of attacks that exist and how to prevent them
Read what RBI has to say on digital lending in the Guideline on Digital Lending issued on 2nd September 2022
The concept of BNPL is similar to that of credit cards wherein a consumer makes a purchase through a credit line and the payment is done later
Security Architecture Review is a holistic review of security that covers networks, Data, Applications, Endpoint, Cloud, etc.
Companies are realizing the benefits of cloud infrastructure. They are quicker to scale, cheaper to maintain, and more flexible.
Executive leaders of organizations and board members are ultimately responsible for ensuring the long-term security
With the year 2020 and the pandemic overwhelming us, we must be conscious of the increase in cyber security threats that are looming in front of us. Here are a few thoughts
Global situations relating to the COVID-19 pandemic have impacted the business and has also impacted the work of auditors. The current situations challenge the conventional
According to the statistics 73.2% of the most popular WordPress installations are vulnerable till date. These can be identified using automated tools and can be exploited.
Blockchain is an emerging technology that is quite popular nowadays due to the popularity of cryptocurrency. The blockchain contains a list of records or blocks which are linked using
Malvertisements are a malicious advertisement distributed in the same was as a legitimate online advertisement. It is one of the common practices to use spread malware.
CyRAACS is a great place to work because every day provides an opportunity to learn something new, to mentor and to be mentored to achieve our client’s goals.
