Category:

Risk Management

Digital economy: Parliamentary panel suggests govt to form law on data privacy

Committee also found it “rather disconcerting” that even as the country moves towards a digital economy, transactional hassles and grievances of users, including ATM frauds such as cloning, have also been increasing manifold. Ordinary customers are then left high and dry, extremely helpless and clueless about the next course of action for a remedy and redressal of grievance,” the report said. 

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Surging bitcoin price pushes up costs for insurers for ransomware attacks

There’s been “a massive escalation” in both the number of attempts and the size of demands as criminals scramble for the hot cryptocurrency, said Michael Tanenbaum, an executive vice president at Zurich-based Chubb. The rise in price of bitcoin correlates,” he said, , declining to specify total costs. Around midyear, top payouts in corporate ransomware attacks began to exceed $1 million, dwarfing the previous maximum of about $17,000, he said.

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2017: Less accidents, more aftershocks for Railways

The ministry adopted a slew of measures to ensure accidents are reduced to a minimum in the coming year – renewal of tracks at a fast pace, use of ultrasonic flaw detection testing of rails, track recording cars and portable oscillation monitoring systems to detect track defects, introduction of train protection and warning system, and development of the Train Collision Avoidance System which is now at the trial stages. ​​​​​​​ 

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