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Open API could reveal everything an attacker needs to impersonate bank officials
With over 2,000 banks in operation, the potential to make life harder for fraudsters is obvious India’s Reserve Bank last week announced a plan to use adopt dedicated second-level domains – bank.in and fin.in – in the hope it improves trust in the financial services sector.…
Who also worries misinformation on social media could threaten liquidity The governor of India's Reserve Bank, Shri Shaktikanta Das, yesterday warned that AI – and the platforms that provide it – could worsen systemic risk to the nation's financial system.…
SMS OTPs are overused, so bring on the tokens and biometrics India's central bank on Wednesday proposed a requirement for dynamically generated second authentication factors for most digital payments.…
Requests for pricing will soon be encrypted, after implementation deadline was extended India's Bombay Stock Exchange (BSE) has told market participants they need to adopt encryption – which, shockingly, isn't already implemented – for certain messages sent to its trading platforms when using its Enhanced Trading Interface (ETI).…
After two years of warnings, and outages, regulators ran out of patience with Kotak Mahindra Bank India’s central bank has banned Kotak Mahindra Bank from signing up new customers for accounts or credit cards through its online presence and app.…
Looks like LockBit took a swipe at an outsourced life insurance application Indian tech services giant Infosys has been named as the source of a data leak suffered by the Bank of America.…
Reserve Bank also wants a national 2FA framework The Reserve Bank of India (RBI) announced on Thursday it would make its digital currency programmable, and ensure it can be exchanged when citizens are offline.…
Government authority forced to backtrack warning that photocopied Aadhaar cards represent a risk The Unique Identification Authority of India (UIDAI) has backtracked on advice about how best to secure the "Aadhaar" national identity cards that enable access to a range of government and financial serivces.…
Crooks used RAT to hijack superusers at India's Mahesh Bank, stole millions An Indian bank that did not have a valid firewall license, had not employed phishing protection, lacked an intrusion detection system and eschewed use of any intrusion prevention system has, shockingly, been compromised by criminals who made off with millions of rupees.…
Labels digital currencies wreckers of sovereignty, worse than a Ponzi scheme The deputy governor of the Reserve Bank of India, T Rabi Sankar, has delivered an extremely unflattering assessment of cryptocurrencies – worse than Ponzi schemes, wreckers of economies, and richly deserving of a ban within India.…