Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds – Part 1

Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds – Part  1

Reserve Bank of India on 21^st Jan 2011, released the Report of Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds

The Press Release can be accessed @ http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=23789

The Press Release contains link to the Full report as well as the Highlights of the Report.

Link of Main Report @ http://www.rbi.org.in/scripts/PublicationReportDetails.aspx?UrlPage=&ID=609

Link for Highlights of the Report @ http://www.rbi.org.in/scripts/PublicationReportDetails.aspx?UrlPage=&ID=610

The report is exhaustive and is divided into 9 sections namely : -

1.     IT Governance,

2.     Information Security,

3.     IS Audit,

4.     IT Operations,

5.     IT Services Outsourcing,

6.     Cyber Fraud,

7.     Business Continuity Planning,

8.     Customer Awareness programme’s

9.     Legal issues.

The Working Group was set up, as the Governor had announced, in the Annual Monetary Policy Statement 2010-11 in April, 2010, a creation of a Working Group on Information Security, Electronic Banking, Technology Risk Management and Tackling Cyber Fraud.

The Working Group was led by  Executive Director of Reserve Bank of India, Shri.G.Gopalakrishna.

He was assisted by a group of distinguished professionals.

They  are :

A) G.Sivakumar : http://www.cse.iitb.ac.in/~siva/

Professor at the Computer Science and Engineering Department at Indian Institute of Technoly, BombayH.Krishnamurthy

B) Pavan Duggal : - http://www.pavanduggal.net/

Advocate , Supreme Court of India and President, Cyberlaws.Net.

C) Patric Kishore :

General Manager (IT) & CISO, State Bank of India

D) Nandkumar Saravade :- http://www.saravade.com/About_Me.html

·         General Manager, Financial Crime Prevention and Reputation Risk Management at ICICI Bank

·         Chairman at India Payment Card Risk Counci

E) Sanjay Sharma  http://www.tfci.com/iba_tfci/banktech08/Sanjay_Sharma.htm

Managing Director & CEO, IDBI Intech Ltd

F) Akhilesh Tuteja : - http://in.linkedin.com/in/akhileshtuteja

Executive Director with the IT Advisory practice of KPMG in India.

G) Abhay Gupte : - http://in.linkedin.com/pub/abhay-gupte/9/274/375

CEO India at Logica

H) K.Ramakrishnan : http://www.iba-banktech.com/2009/Ramakrishnan.html

Chief Executive, Indian Banks' Association

I)                   Kamlesh Bajaj : http://in.linkedin.com/pub/kamlesh-bajaj/6/557/b9

CEO of Nasscom’s Data Security Council of India

J)B.Sambamurthy : http://www.idrbt.ac.in/staff/other_faculty/Subramanyan/Subramanyan.html

Distinguished Fellow, IDRBT

K) P.K.Panda : Chief General Manager, Reserve Bank of India.

As can be seen from the above list, the committee’s combined skills are vast and the report reflects their rigid exertion.

From Safe ePayments Motivator angle, two sections immediately attracted me are

1.     

Business Continuity Planning,

2.     

Customer Awareness programme’s

All other sections revolve around the above two only.

In the coming days, there will be new posts on this Report i.e Report of Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds

I am signing off by reading Swami Vivekananda’s  Quote:

If the mind is intensely eager, everything can be accomplished—mountains can be crumbled into atoms.