BREAKING NEWS

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first*** DA FOR BANKER FROM FEBRUARY 2023 SEE DETAILS CHART FOR OFFICER AND WORKMAN***Outcome of Today’s meeting with IBA - 31.01.2023***All India Bank Strike 27.06.2022******PLEASE VISIT INDIAN TOURISM CULTURE & HERITAGE *****NITI Aayog finalised names of Two public sector banks and one general Insurance Co. for privatisation****No economic reason to privatise PSU banks---post date 24.05.2021******Mobile users may soon be able to switch from postpaid to prepaid and vice versa using OTP*****India May Privatise or Shut 46 PSUs in First 100 Days, Says NITI Aayog's Rajiv Kumar----We should start with the banks*****Expected DA for Bank Employee from August 2019 is 24 slab to 29 slab*****RTGS time window from 4:30 pm to 6:00 pm. with effect from June 01.06.2019******WITHOUT CUSTOMER'S CONSENT BANK CAN NOT USE AADHAAR FOR KYC ----RBI***** Salient features of Sukanya Samriddhi Account---Who can open and how?******OBC posts 39% rise in Q4 profit, OBC readt tWITHOUT CUSTOMER'S CONSENT BANK CAN NOT USE AADHAAR FOR KYC ----RBI o take another Bank--MD MUkesh Jain*******DA FOR BANKER FROM NOV 2018 IS INCREASE 66 SLAB I.E 6.60%****40,000 STANDARD DEDUCTION IN YOUR TAX - IS A GREAT DRAM/BLUFF BY JAITLY SEE DETAILS+++++++Cabinet approves plans to merge PSU banks-The final scheme will be notified by the central government in consultation with the Reserve Bank. post date 23.08.2017****IBA to restrict the negotiations on Charter of Demands of Officers' Associations up to Scale-III only post dated 07.07.2017*****

VISITOR FROM WORLD

Free counters!

YOU ARE VISITOR

Blog Archive

LIVE

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Monday, May 15, 2017

Ransomware attack: RBI asks banks to update ATM software systems

The Reserve Bank of India (RBI) has asked banks to update software systems at their ATMs with a security patch released by Microsoft Corp. as a precautionary measure in the wake of the ransomware attack triggered by the WannaCry virus, said two people familiar with the matter. Banks and ATM operators said this could mostly be done remotely without disrupting operations.
The Indian Computer Emergency Response Team (CERT-In), the agency coordinating efforts on cyber security issues, is circulating these Microsoft security patches in India.
The government said on Monday that its computer systems have largely escaped a massive global ransomware attack and that state organizations managing government websites and building supercomputers have installed security patches.

“Our team as well as other ATM operators are working on remote update of patch, whether it can be downloaded and if it is practically possible to remotely push a 60MB file on thousands of ATMs,” said Mahesh Patel, president and group chief technology officer, AGS Transact Technologies Ltd, which makes and runs ATMs. “If all goes well, the update will be completed in the next couple of days. If remote update doesn’t work, then in those cases there will be physical visits required.”
ATMs in India are vulnerable to malware attacks as many of them run on old operating systems.
“A significant number of machines are currently running on outdated operating systems,” said a government official without giving any details. There are about 220,000 ATMs in India.
“A patch is only as good as the next attack,” this person said.
Last year, between 21 May and 11 July, about 3.2 million debit cards were compromised after a malware injection in the systems of Hitachi Payment Services Pvt. Ltd.
Lenders, however, are confident that their systems will be able to withstand this ransomware attack because many are run on private networks and don’t store data.
Ransomware typically logs users out of their own systems and asks them to pay a ransom if they want to access the encrypted data.
The cyber attack, which has affected at least 200,000 computers in 150 countries, shut car factories, hospitals, shops and schools, but has been less severe than anticipated in Asia.

Only if “somebody spoofs the banks’ network and logs into the system and injects the virus, then an attack happens. ATMs don’t have a mail tool. Hence, there is no need for shut them down”, said Shiv Bhasin, chief technology officer, State Bank of India.
Still, there have been reports of breaches in a couple of banks, besides police departments in two states.
“We are currently working with a public sector bank which has been affected by the ransomware. If one system is infected, it has the ability to infect other systems which are vulnerable. The mode of infection could be anything and we are currently investigating the reason,” said Kartik Shinde, partner, advisory services, EY.
Experts warned that consistently upgrading the software is the only solution against any possible cyber attack in the long term.
“All banks are taking a short cut because it (getting new software) involves a huge licensing cost,” said Dharshan Shanthamurthy, founder and chief executive at SISA Information Security Pvt. Ltd, a global payments security specialist firm. “They have been saying that they will whitelist the IP (allow access from only certain internet addresses) and take other control measures.
“Unfortunately the worst has come true. Microsoft patches are a temporary solution to prevent attack by the current ransomware,” added Shanthamurthy.

No comments:

Bank of Baroda Officers Union announces All India strike against New Transfer Policy

The All India Bank of Baroda Officers’ Association has declared a strike in protest against the bank management’s new anti-officer transfer ...

script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js">