“The general culture in our bank is to brush data security breach and loopholes under the carpet” says one of the senior executives of a leading Bank, according to this article in Midday.
It is well known that Cyber Security has been subordinated by Bankers today to profits and RBI has been looking the other way. Highlighting one of the vulnerabilities in the Security protocols which became public a few months back, (SSl V3 exploit), the article explains how many of the Bank’s own executives admit that the Banks have been deliberately neglecting the security and “brushing the problem under the carpet”.
This should be an eye opener for RBI to tighten up its regulatory measures so that Indian Banking system is not a victim of greed of bankers to make profits at the cost of security.
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