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In a significant cybersecurity incident, a ransomware attack on C-Edge Technologies has led to the temporary shutdown of payment systems for nearly 300 small local banks across India. The attack has forced the National Payment Corporation of India (NPCI) to isolate C-Edge Technologies from the retail payments system to prevent a wider impact. Key Points: 1. Affected Entity: C-Edge Technologies, provider of banking technology systems. 2. Impact: Temporary shutdown of payment systems for nearly 300 small banks. Regulatory Response: NPCI has isolated C-Edge Technologies from the retail payment system. 3. Customer Impact: Customers of affected banks will not have access to payment systems during the isolation period. Conclusion: As an IT consulting and advisory firm, Trufe Tech emphasizes the critical importance of robust cybersecurity measures for financial institutions. The recent ransomware attack on C-Edge Technologies, which disrupted payment systems for nearly 300 small banks, underscores the urgent need for comprehensive security protocols. Financial institutions must prioritize compliance with industry standards such as ISO 27001, SOC 2, and GDPR to ensure their security posture. Additionally, they should regularly conduct thorough penetration testing to identify and mitigate vulnerabilities, ensuring the offensive security of their infrastructure and data. At Trufe Tech, we believe that safeguarding the financial assets of individuals and businesses is paramount. By proactively enhancing their cybersecurity frameworks and adhering to industry standards, financial institutions can ensure the resilience and trustworthiness of their services, ultimately protecting the financial well-being of their customers. Let's work together to fortify our financial systems against cyber threats. Reach out to Trufe for expert guidance on implementing robust cybersecurity measures and safeguarding your institution's future. #CyberSecurity #Ransomware #300SmallBanks #CEdgeTechnologies #NPCI #Banking #FinancialSecurity  #BankingSafety #Cyberdefence #PenetrationTesting #ISOCertifications #ITcompany #B2B #SaaS #Global

Join us at IBEX INDIA 2024 for the panel discussion on “Embracing Zero Trust Infrastructure – from strategy to implementation”. The session is scheduled to be held on 21 February 2024 from 14:30 – 15:30 hrs. In this session, the panelists will discuss #zerotrust in a digitally transformed hybrid marketplace. The panelists will deliberate on critically assessing existing IT and security infrastructure, identifying key access points, and fortifying against potential breaches. The discussion will spotlight the extensive use of risk-based multi-factor authentication, identity protection, advanced endpoint security, and other key elements in implementing a resilient zero-trust system.  🔍Register as a delegate to gain valuable insights from industry experts. 🎓 Click here to Register as a delegate: https://lnkd.in/gidYcMC3 👀 Explore as a visitor: https://lnkd.in/g3jzP74d #cybersecurity #cloudsecurity #datasecurity #endpointsecurity #accesscontrol #authentication #hybridcloud #digitaltransformation #banking #finance #fintech #financialtechnology #digitalbanking #money #payments #investmentbanking #retailbanking #bankingindustry #checkscanning #bankingtechnology #IBEXIndia #IBEXINDIA2024

Sergey Kondratenko: Cybersecurity in the Fintech Industry – Modern Threats and Protective Measures LINK: https://lnkd.in/g3MErnCc Hashtags: #BankingAndFinanceNews #Finance #Technology #FinTech Please LIKE & REPOST

CISOs are now integral in shaping overall business strategy, ensuring security considerations are embedded from the outset by following "security by design principles. #cybersecurity #banking #ciso #cto https://lnkd.in/gtyJf_Yk

🏦🔒 Safeguard your financial institution with BFSI Security! Exciting news in the world of banking and finance! According to Market Research Future® (MRFR), the BFSI Security market is projected to reach a substantial USD 108.36 billion by 2030, expanding at a CAGR of 12.8%. This signifies a significant growth opportunity for the BFSI sector to enhance their security measures. 💼💻 BFSI Security encompasses a range of solutions and technologies designed to protect financial institutions from cyber threats, fraud, and data breaches. It ensures the confidentiality, integrity, and availability of critical financial systems and customer data. 🚀🔐 By adopting BFSI Security measures, organizations can safeguard sensitive information, prevent financial fraud, and comply with regulatory requirements. It enables a secure and trusted environment for banking transactions and customer interactions. 💪💰 Stay ahead of the curve and fortify your financial institution's security! Read the full report here: https://lnkd.in/duP3a8kd #BFSISecurity #BankingSecurity #FinancialSecurity #Cybersecurity #DataProtection #FraudPrevention #RiskManagement #Compliance #RegulatoryRequirements #FinancialInstitutions #CyberThreats #DataPrivacy #TechnologyInnovation #DigitalTransformation #FinancialFraud #SecureTransactions #CustomerTrust #BusinessSecurity #InformationSecurity #TechnologyAdvancements

Cybersecurity Frontline: Securing India's digital finance infrastructure in 2024: Fintech companies face the daunting task of protecting vast amounts of sensitive data and ensuring the security of financial operations. These firms ...

Being the backbone of global #economies, the #BFSI sector experiences continued growth and heavy regulations. The crucial position of the industry also means that even with safeguards and protocols put into place, it faces a plethora of #cybersecurity challenges. How can we navigate through these challenges and stay ahead of the curve? Get the answers with #TrendTalks BFSI, where we will discuss the latest cybersecurity trends, challenges, and best practices with seasoned industry stalwarts. Premiering soon! #Banking #finance #insurance

In the realm of #fintech, the challenge of securing customer data and financial transactions is paramount. A pressing issue often overlooked is the vulnerability introduced by outdated #encryption protocols. Outdated Encryption Protocols: Aging encryption methods, once robust, are now susceptible to evolving #cyber threats. Fintech platforms, driven by the need for seamless transactions, may continue using these protocols, unknowingly exposing sensitive financial information. Sources of Vulnerability: 1. Legacy Systems: Fintech companies with legacy systems may rely on outdated encryption, creating a potential weak link in safeguarding financial data. 2. Interconnected Ecosystems: As fintech ecosystems expand and integrate with various services, the use of different encryption standards across platforms can create vulnerabilities and points of exploitation. Implications of Inaction: 1. Data Breaches: Outdated encryption opens avenues for cybercriminals to exploit #vulnerabilities, leading to data breaches with severe financial repercussions. 2. Regulatory Non-Compliance: Evolving regulatory frameworks demand robust security measures. Failure to update encryption protocols may result in non-compliance, exposing fintechs to legal consequences. Addressing the Challenge: 1. Technology Upgrades: Fintech companies must invest in upgrading encryption protocols to meet current industry standards and address emerging threats. 2. Continuous Monitoring: Implementing real-time monitoring to detect anomalies and potential security breaches, ensuring proactive responses to evolving cyber threats. 3. Collaboration and Standards: Fostering industry collaboration to establish and adhere to encryption standards can strengthen the overall security posture of the fintech sector. 4. User Education: Educating users on the importance of encryption and their role in maintaining secure financial transactions can contribute to a more resilient fintech ecosystem. In conclusion, fortifying encryption protocols is essential for fintechs to uphold the trust of their users and meet the evolving challenges of the digital financial landscape. By prioritizing #security measures and staying vigilant against outdated encryption, the fintech sector can navigate the complex terrain of cyber threats with confidence. https://lnkd.in/dZuxgTZj #entersoft #financialsecurity #vapt #datasecurity #securetransactions #compliance #cybersecurity #fintechindustry #cybercriminals #cyberthreats #dataencryption

📊 Is Cybersecurity the Key to Customer Loyalty for Banks? In a competitive and digital world, proactive cybersecurity is emerging as a game-changer for banks. Jason R.C. Nurse, Director of Science and Research at CybSafe, highlights that nearly a quarter of consumers consider a bank’s cybersecurity posture when opening an account. This makes cybersecurity not just a compliance necessity but a strategic advantage. Learn how investing in cybersecurity can build trust and drive customer loyalty in the financial sector: bit.ly/4bJTS7H Robin Amlôt | Amit Jain | Ojas Kulkarni | Nikhil Gokhale #Cybersecurity #CustomerLoyalty #Banking #FinTech #DataProtection #Trust #CybSafe #FinancialServices