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Risk Management
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UPI adding up to 60 lakh new users every month, global adoption surge
According to the latest National Payments Corporation of India...
Bombay HC asks social media firms to take prompt action against deepfakes of NSE’s MD
The court said social media firms are mandated by the Information...
Failure of a top cloud service provider could cost US economy $15 billion
It was found that companies outside of the Fortune 1000 – who are more likely to use cloud provider services – would carry a larger share of the economic and insurance losses than Fortune 1000 companies. However, the biggest 1000 companies in the US would still carry 38% of economic losses.
Cyber incidents & Business interruption dominate risk landscape for India Inc in 2018: Allianz
-Evolving nature of risk, and rise in cyber-related incidents, means business interruption ranks as top threat for companies globally, according to 1,900+ risk experts from 80 countries
-India included for the first time in global survey, saw cyber incidents top the list with potential “cyber hurricane” events and tougher data protection rules shaping cyber risk environment for year-ahead. Crisis response crucial for mitigation
-Rising FDI and new entrants into India has put Market Developments in third place as businesses grapple with intensified competition and rising M&A activities
-Other risks include Legislation and Regulation in light of India’s push towards liberalisation as well as Natural Catastrophes, which are both tied at fourth place
World to be riskier place in 2018: WEF Survey
The biggest risks in terms of impact would be weapons of mass destruction, extreme weather events, natural disasters, climate change, water crises, cyber attacks, food crises, biodiversity loss and ecosystem collapse, involuntary migration and spread of infectious diseases.
400 deaths a day are forcing India to take car safety seriously
A bill introduced in August 2016 — proposing harsher penalties for traffic offenses and requiring that automakers add safety features — has passed the lower house of parliament and is expected to go through the upper house in 2018
Hackers already targeting Pyeongchang Olympics — researchers
McAfee said in a report that several organizations associated with the Olympics had received the malicious email with the primary target being groups affiliated with ice hockey.“The majority of these organizations (targeted) had some association with the Olympics, either in providing infrastructure or in a supporting role,” the McAfee report said.
Celebs face up to 3-year ban for misleading ads in new bill
If the Central Consumer Protection Authority (CCPA), proposed to be set up under the bill, is satisfied that an advertisement is false or misleading, it may issue directions to endorsers, advertiser, publisher as well traders and manufacturers to discontinue or modify such an ad.
Android banking Trojan may target Indian banks’ mobile apps: Quick Heal
“Users are advised to avoid downloading apps from third party app stores or links provided in SMSs and emails to keep their credentials safe,” Sanjay Katkar, Joint Managing Director and Chief Technology Officer, Quick Heal Technologies Limited, said in a statement.
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.
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.
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.