BoB to strengthen its cyber defense prowess

Reported by: |Updated: September 3, 2016

Bank of Baroda is in the process of engaging a consultant to assist it in strengthening its cyber defense and complying the with guidelines on Cyber Security Frameworks for Banks issued by Reserve Bank of India. The bank and its subsidiaries have implemented centralized systems at the data center and DR site and the bank now wants to strengthen its cyber attack detection and response mechanism so that in case of any indicator of compromise, the bank can detect the same and respond before the actual damage takes place. The bank has 24X7 Security Operations Centre at its DC and DR locations and logs received from integrated devices at DC/DR and are monitored using SIEM tool. The selected service provider will be required to independently arrive at an approach and methodology, based on RBI Cyber Security Framework and international best practices.