Cyber security risk is the most important risk today and it is like a war, said A.P. Hota, MD and CEO, National Payments Corporation of India. Speaking at the 4th edition of the Secure Banking Conclave organized by Security Watch India in Mumbai, he said at NPCI, more than one-third of the technology is spent on security as it is one of the most important verticals today. Dhananjay Kamlakar, joint commissioner of police (Economic Offence Wing), Mumbai police, said while we aim for a card-based society from a cashless society, there is vulnerability of the risk involved and the society still prefers cash over card. So, there is still a robust change that is needed, he added. The theme of the conclave was “Mobile Payments and Cyber Security”. The focus of the conference and an exhibition organized on the occasion cantered on the revolution in banking that is being brought about by the extensive penetration of mobile devices in India. The conference touched on issues like Digital Banking Trends and Mobile Innovations, Identity, Security & Fraud Prevention, Mobile and Digital Payments Security, Authentication and Cyber Security. Apart from Hota and Kamlakar, Gen. J.J. Singh, chairman, Advisory Board, SWI, Arup Patnaik, member SWI Advisory Board, and former DGP, Maharashtra Police, and Maroof Raza, columnist and strategic security expert, made presentations.
