Incentivising financial sector cybersecurity4 min read . Updated: 13 Jul 2017, 09:39 AM IST
Policy that offers the correct economic incentives for institutions to be proactive is as important as the technical aspects of cybersecurity
Two developments last week point to the evolving cybersecurity architecture in India’s financial sector. First, the government made public a report by the working group established to help set up the Computer Emergency Response Team in the Financial Sector (Cert-Fin). Then, the Reserve Bank of India (RBI) released guidelines on customer liability in case of unauthorized electronic banking transactions. They represent different aspects of the cybersecurity problem—the technical and the broader economic framework. The latter deserves more attention than it has received.
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