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55-444: SFMS can be used for secure communication within the bank and between banks. The SFMS was launched on December 14, 2001 at IDRBT . It allows the definition of message structures, message formats, and authorization of the same for usage by the financial community. SFMS has a number of features and it is a modularised and web enabled software, with a flexible architecture facilitating centralised or distributed deployment. The access control

110-587: A big impact on information security in organizations. Cultural concepts can help different segments of the organization work effectively or work against effectiveness toward information security within an organization. Information security culture is the "...totality of patterns of behavior in an organization that contributes to the protection of information of all kinds." Andersson and Reimers (2014) found that employees often do not see themselves as part of their organization's information security effort and often take actions that impede organizational changes. Indeed,

165-476: A colleague, which, when listened to by an attacker, could be exploited. Data transmitted across an "open network" allows an attacker to exploit a vulnerability and intercept it via various methods. Unlike malware , direct-access attacks, or other forms of cyber attacks, eavesdropping attacks are unlikely to negatively affect the performance of networks or devices, making them difficult to notice. In fact, "the attacker does not need to have any ongoing connection to

220-412: A consequence make a Cold boot attack possible, to hardware implementation faults that allow for access or guessing of other values that normally should be inaccessible. In Side-channel attack scenarios, the attacker would gather such information about a system or network to guess its internal state and as a result access the information which is assumed by the victim to be secure. The target information in

275-445: A feature of modern computers that allows certain devices, such as external hard drives, graphics cards, or network cards, to access the computer's memory directly." Eavesdropping is the act of surreptitiously listening to a private computer conversation (communication), usually between hosts on a network. It typically occurs when a user connects to a network where traffic is not secured or encrypted and sends sensitive business data to

330-476: A malicious code inside a particular HTML or web page. HTML files can carry payloads concealed as benign, inert data in order to defeat content filters . These payloads can be reconstructed on the other side of the filter. When a target user opens the HTML, the malicious code is activated; the web browser then "decodes" the script, which then unleashes the malware onto the target's device. Employee behavior can have

385-439: A new class of multi-vector, polymorphic cyber threats combine several types of attacks and change form to avoid cybersecurity controls as they spread. Multi-vector polymorphic attacks, as the name describes, are both multi-vectored and polymorphic. Firstly, they are a singular attack that involves multiple methods of attack. In this sense, they are “multi-vectored (i.e. the attack can use multiple means of propagation such as via

440-580: A particular aspect of technology implementation which changes year-by-year. There are various categories which focus on cyber security , financial inclusion , IT infrastructure, IT risk management , etc. These technology awards honour the best banks of the Indian banking and financial sector. The awards are presented by the governor of the Reserve Bank of India every year. To bank on the popularity of apps development, and bring in new and useful app innovations in

495-601: A side channel can be challenging to detect due to its low amplitude when combined with other signals Social engineering , in the context of computer security, aims to convince a user to disclose secrets such as passwords, card numbers, etc. or grant physical access by, for example, impersonating a senior executive, bank, a contractor, or a customer. This generally involves exploiting people's trust, and relying on their cognitive biases . A common scam involves emails sent to accounting and finance department personnel, impersonating their CEO and urgently requesting some action. One of

550-705: A standard computer user may be able to exploit a vulnerability in the system to gain access to restricted data; or even become root and have full unrestricted access to a system. The severity of attacks can range from attacks simply sending an unsolicited email to a ransomware attack on large amounts of data. Privilege escalation usually starts with social engineering techniques, often phishing . Privilege escalation can be separated into two strategies, horizontal and vertical privilege escalation: Any computational system affects its environment in some form. This effect it has on its environment can range from electromagnetic radiation, to residual effect on RAM cells which as

605-485: A way of filtering network data between a host or a network and another network, such as the Internet . They can be implemented as software running on the machine, hooking into the network stack (or, in the case of most UNIX -based operating systems such as Linux , built into the operating system kernel ) to provide real-time filtering and blocking. Another implementation is a so-called physical firewall , which consists of

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660-447: A wrong password enough consecutive times to cause the victim's account to be locked, or they may overload the capabilities of a machine or network and block all users at once. While a network attack from a single IP address can be blocked by adding a new firewall rule, many forms of distributed denial-of-service (DDoS) attacks are possible, where the attack comes from a large number of points. In this case, defending against these attacks

715-471: Is much more difficult. Such attacks can originate from the zombie computers of a botnet or from a range of other possible techniques, including distributed reflective denial-of-service (DRDoS), where innocent systems are fooled into sending traffic to the victim. With such attacks, the amplification factor makes the attack easier for the attacker because they have to use little bandwidth themselves. To understand why attackers may carry out these attacks, see

770-508: Is not a perfect subset of information security , therefore does not completely align into the security convergence schema. A vulnerability refers to a flaw in the structure, execution, functioning, or internal oversight of a computer or system that compromises its security. Most of the vulnerabilities that have been discovered are documented in the Common Vulnerabilities and Exposures (CVE) database. An exploitable vulnerability

825-439: Is one for which at least one working attack or exploit exists. Actors maliciously seeking vulnerabilities are known as threats . Vulnerabilities can be researched, reverse-engineered, hunted, or exploited using automated tools or customized scripts. Various people or parties are vulnerable to cyber attacks; however, different groups are likely to experience different types of attacks more than others. In April 2023,

880-494: Is protected by standard security measures, these may be bypassed by booting another operating system or tool from a CD-ROM or other bootable media. Disk encryption and the Trusted Platform Module standard are designed to prevent these attacks. Direct service attackers are related in concept to direct memory attacks which allow an attacker to gain direct access to a computer's memory. The attacks "take advantage of

935-425: Is spear-phishing which leverages personal or organization-specific details to make the attacker appear like a trusted source. Spear-phishing attacks target specific individuals, rather than the broad net cast by phishing attempts. Privilege escalation describes a situation where an attacker with some level of restricted access is able to, without authorization, elevate their privileges or access level. For example,

990-683: Is the certifying authority (CA) for the Indian banking and financial sector, licensed by the Controller of Certifying Authorities, Government of India, under IT Act 2000. The CA issues digital certificates aimed to facilitate speedy and cost-effective digital transactions. These certificates are used by the RBI, banks and other financial institutions to exchange electronic messages between banks ensuring authenticity, integrity, non-repudiation and confidentiality. The CA services are aimed at facilitating. So far, more than 2,00,000 digital certificates have been issued by

1045-625: Is through Smart Card based user access and messages are secured by means of standard encryption and authentication services conforming to ISO standards. The intra-bank part of SFMS is used by banks to take full advantage of the secure messaging facility it provides. The inter-bank messaging part is used by applications like electronic funds transfer (EFT), real time gross settlement systems (RTGS), delivery versus payments (DVP), centralised funds management systems (CFMS) and others. The SFMS provides application program interfaces (APIs), which can be used to integrate existing and future applications with

1100-543: The Reserve Bank of India (RBI) in 1996, the institution works at the intersection of banking and technology. It is located in Hyderabad , India . The main focus of the institute is to conduct applied research and experimental development in the area of banking technology. The research at the institute is directed primarily towards a specific practical objective that will serve the banking and financial sector. Accordingly,

1155-642: The United Kingdom Department for Science, Innovation & Technology released a report on cyber attacks over the last 12 months. They surveyed 2,263 UK businesses, 1,174 UK registered charities, and 554 education institutions. The research found that "32% of businesses and 24% of charities overall recall any breaches or attacks from the last 12 months." These figures were much higher for "medium businesses (59%), large businesses (69%), and high-income charities with £500,000 or more in annual income (56%)." Yet, although medium or large businesses are more often

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1210-436: The "practice of designing computer systems to achieve security goals." These goals have overlap with the principles of "security by design" explored above, including to "make initial compromise of the system difficult," and to "limit the impact of any compromise." In practice, the role of a security architect would be to ensure the structure of a system reinforces the security of the system, and that new changes are safe and meet

1265-407: The 'attacker motivation' section. A direct-access attack is when an unauthorized user (an attacker) gains physical access to a computer, most likely to directly copy data from it or steal information. Attackers may also compromise security by making operating system modifications, installing software worms , keyloggers , covert listening devices or using wireless microphones. Even when the system

1320-610: The CA. With a view to provide focused attention and enable development of techno-banking in the country, the institute has promoted a new Section 8 company named The Indian Financial Technology and Allied Services (IFTAS). Headquartered in Mumbai, the mandate of the IFTAS is to provide IT-related services to the RBI, banks and other financial institutions. Services like Indian Financial Network (INFINET), Structured Financial Messaging System (SFMS) and

1375-519: The Indian Banking Community Cloud (IBCC) have been handed over to IFTAS with effect from 1 April 2016. Cyber Security Computer security (also cybersecurity , digital security , or information technology (IT) security ) is the protection of computer software , systems and networks from threats that can lead to unauthorized information disclosure, theft or damage to hardware , software , or data , as well as from

1430-480: The Indian Banking Community Cloud (IBCC) have been handed over to IFTAS with effect from April 1, 2016. This finance-related article is a stub . You can help Misplaced Pages by expanding it . IDRBT Masab Tank, Hyderabad, The Institute for Development & Research in Banking Technology ( IDRBT ) is an engineering training institution exclusively focused on banking technology . Established by

1485-538: The Indian banking and financial sector, the institute launched the IDRBT Banking Application Contest (IBAC) in 2016. The IDRBT Banking Application Contest (IBAC) aims to serve two key purposes – Indian banking and financial community benefits from the innovative ideas from the best tech talent in the country, and the Gen Next gets an opportunity to showcase their tech talent through this platform. IDRBT

1540-694: The SFMS. Several banks have integrated it with their core or centralised banking software. With a view to provide focused attention and enable development of techno-banking in the country, the institute has promoted a new Section 8 company named The Indian Financial Technology and Allied Services (IFTAS). Headquartered in Mumbai , the mandate of the IFTAS is to provide IT-related services to the RBI , banks and other financial institutions. Services like Indian Financial Network (INFINET), Structured Financial Messaging System (SFMS) and

1595-508: The Verizon Data Breach Investigations Report 2020, which examined 3,950 security breaches, discovered 30% of cybersecurity incidents involved internal actors within a company. Research shows information security culture needs to be improved continuously. In "Information Security Culture from Analysis to Change", authors commented, "It's a never-ending process, a cycle of evaluation and change or maintenance." To manage

1650-558: The Web, email and applications." However, they are also multi-staged, meaning that “they can infiltrate networks and move laterally inside the network.” The attacks can be polymorphic, meaning that the cyberattacks used such as viruses, worms or trojans “constantly change (“morph”) making it nearly impossible to detect them using signature-based defences.” Phishing is the attempt of acquiring sensitive information such as usernames, passwords, and credit card details directly from users by deceiving

1705-505: The best form of encryption possible for wireless networks is best practice, as well as using HTTPS instead of an unencrypted HTTP . Programs such as Carnivore and NarusInSight have been used by the Federal Bureau of Investigation (FBI) and NSA to eavesdrop on the systems of internet service providers . Even machines that operate as a closed system (i.e., with no contact with the outside world) can be eavesdropped upon by monitoring

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1760-421: The disruption or misdirection of the services they provide. The significance of the field stems from the expanded reliance on computer systems , the Internet , and wireless network standards . Its importance is further amplified by the growth of smart devices , including smartphones , televisions , and the various devices that constitute the Internet of things (IoT). Cybersecurity has emerged as one of

1815-416: The entire computer." Backdoors can be very hard to detect and are usually discovered by someone who has access to the application source code or intimate knowledge of the operating system of the computer. Denial-of-service attacks (DoS) are designed to make a machine or network resource unavailable to its intended users. Attackers can deny service to individual victims, such as by deliberately entering

1870-450: The existing and emerging human resources of the Indian banking and financial sector. These include: Training programs form an inherent part of IDRBT's initiatives in aiding technology absorption in the Indian banking and financial sector and keeping it abreast with the developments taking place in technology. The institute's programs are structured to prepare the top and middle-level management of Banks and other Financial Institutions for

1925-465: The faint electromagnetic transmissions generated by the hardware. TEMPEST is a specification by the NSA referring to these attacks. Malicious software ( malware ) is any software code or computer program "intentionally written to harm a computer system or its users." Once present on a computer, it can leak sensitive details such as personal information, business information and passwords, can give control of

1980-457: The following sections: Security by design, or alternately secure by design, means that the software has been designed from the ground up to be secure. In this case, security is considered a main feature. The UK government's National Cyber Security Centre separates secure cyber design principles into five sections: These design principles of security by design can include some of the following techniques: Security architecture can be defined as

2035-440: The future in technology banking. These executive development and education programs mainly focus on identifying the gaps in the skill requirements and providing training in those areas. The IDRBT provides holistic executive education through these programs, which cover the entire spectrum of technology applied in the banking and financial sectors. The institute offers over 100 programs that train over 2500 bankers every year. With

2090-490: The information security culture, five steps should be taken: pre-evaluation, strategic planning, operative planning, implementation, and post-evaluation. In computer security, a countermeasure is an action, device, procedure or technique that reduces a threat, a vulnerability, or an attack by eliminating or preventing it, by minimizing the harm it can cause, or by discovering and reporting it so that corrective action can be taken. Some common countermeasures are listed in

2145-406: The institute. The conferences are intended to promote an exchange of the latest knowledge, experiences, research findings and technical know-how in information technology and its application in the Indian banking and financial sector. During the last seven years, the institute organized the following three conferences: IDRBT offers a range of academic programs, designed specifically to meet both

2200-534: The institute. The research centers are also being constantly upgraded with the latest systems, devices and tools to keep pace with the ever-changing technology trends. Presently, the Institute has the following six research centers for focused research and development directly relevant to the Indian Banking and Financial Sector. Every year, the institute organizes an international conference in an area of relevance to

2255-449: The life-threatening risk of spoofing in the healthcare industry. Tampering describes a malicious modification or alteration of data. It is an intentional but unauthorized act resulting in the modification of a system, components of systems, its intended behavior, or data. So-called Evil Maid attacks and security services planting of surveillance capability into routers are examples. HTML smuggling allows an attacker to "smuggle"

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2310-515: The main techniques of social engineering are phishing attacks. In early 2016, the FBI reported that such business email compromise (BEC) scams had cost US businesses more than $ 2 billion in about two years. In May 2016, the Milwaukee Bucks NBA team was the victim of this type of cyber scam with a perpetrator impersonating the team's president Peter Feigin , resulting in the handover of all

2365-556: The most significant new challenges facing the contemporary world, due to both the complexity of information systems and the societies they support. Security is particularly crucial for systems that govern large-scale systems with far-reaching physical effects, such as power distribution , elections , and finance . Although many aspects of computer security involve digital security, such as electronic passwords and encryption , physical security measures such as metal locks are still used to prevent unauthorized tampering. IT security

2420-473: The nature of backdoors, they are of greater concern to companies and databases as opposed to individuals. Backdoors may be added by an authorized party to allow some legitimate access or by an attacker for malicious reasons. Criminals often use malware to install backdoors, giving them remote administrative access to a system. Once they have access, cybercriminals can "modify files, steal personal information, install unwanted software, and even take control of

2475-571: The objective of instilling healthy competition and widening the reach of technology adoption and absorption in a faster way among all the banks, the institute constituted the IDRBT Banking Technology Excellence Awards in 2001. The awards are a recognition bestowed on the banks which have implemented and improved the use of technology at all the fronts of banking activities for enhancing customer service as well as ease of doing banking. The awards are presented keeping in view

2530-611: The openness of the Internet. These strategies mostly include phishing , ransomware , water holing and scanning. To secure a computer system, it is important to understand the attacks that can be made against it, and these threats can typically be classified into one of the following categories: A backdoor in a computer system, a cryptosystem , or an algorithm is any secret method of bypassing normal authentication or security controls. These weaknesses may exist for many reasons, including original design or poor configuration. Due to

2585-428: The real website. Preying on a victim's trust, phishing can be classified as a form of social engineering . Attackers can use creative ways to gain access to real accounts. A common scam is for attackers to send fake electronic invoices to individuals showing that they recently purchased music, apps, or others, and instructing them to click on a link if the purchases were not authorized. A more strategic type of phishing

2640-458: The research and development activities of the institute aim at improving banking technology in India. While addressing the immediate concerns of the banking sector, the research at the institute also focuses on anticipating the future needs and requirements of the banking sector and developing technologies to address them. These state-of-the-art research centers drive the research and development work of

2695-476: The right foundation to systematically address business, IT and security concerns in an organization. A state of computer security is the conceptual ideal, attained by the use of three processes: threat prevention, detection, and response. These processes are based on various policies and system components, which include the following: Today, computer security consists mainly of preventive measures, like firewalls or an exit procedure . A firewall can be defined as

2750-432: The security requirements of the organization. Similarly, Techopedia defines security architecture as "a unified security design that addresses the necessities and potential risks involved in a certain scenario or environment. It also specifies when and where to apply security controls. The design process is generally reproducible." The key attributes of security architecture are: Practicing security architecture provides

2805-448: The software at all. The attacker can insert the software onto a compromised device, perhaps by direct insertion or perhaps by a virus or other malware, and then come back some time later to retrieve any data that is found or trigger the software to send the data at some determined time." Using a virtual private network (VPN), which encrypts data between two points, is one of the most common forms of protection against eavesdropping. Using

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2860-672: The system to the attacker, and can corrupt or delete data permanently. Another type of malware is ransomware , which is when "malware installs itself onto a victim's machine, encrypts their files, and then turns around and demands a ransom (usually in Bitcoin ) to return that data to the user." Types of malware include some of the following: Man-in-the-middle attacks (MITM) involve a malicious attacker trying to intercept, surveil or modify communications between two parties by spoofing one or both party's identities and injecting themselves in-between. Types of MITM attacks include: Surfacing in 2017,

2915-428: The team's employees' 2015 W-2 tax forms. Spoofing is an act of pretending to be a valid entity through the falsification of data (such as an IP address or username), in order to gain access to information or resources that one is otherwise unauthorized to obtain. Spoofing is closely related to phishing . There are several types of spoofing, including: In 2018, the cybersecurity firm Trellix published research on

2970-427: The users. Phishing is typically carried out by email spoofing , instant messaging , text message , or on a phone call. They often direct users to enter details at a fake website whose look and feel are almost identical to the legitimate one. The fake website often asks for personal information, such as login details and passwords. This information can then be used to gain access to the individual's real account on

3025-616: The victims, since larger companies have generally improved their security over the last decade, small and midsize businesses (SMBs) have also become increasingly vulnerable as they often "do not have advanced tools to defend the business." SMBs are most likely to be affected by malware, ransomware, phishing, man-in-the-middle attacks , and Denial-of Service (DoS) Attacks. Normal internet users are most likely to be affected by untargeted cyberattacks. These are where attackers indiscriminately target as many devices, services, or users as possible. They do this using techniques that take advantage of

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