'Online frauds like phishing increasing in India during lockdown, especially threats masked as COVID-19'

The current scenario of coronavirus spread has led to more people towards digital solutions, and this change in the behaviour is likely to have lasting effects even when the economy starts to pick up.

Increasing application of digital solutions, tools, and services are speeding up the global transition towards a digital economy.

Large and small businesses, corporates are working from home; private sector banks are requesting customers to use digital means for transactions, food and essentials are being ordered online. With more data feeding in, the biggest concern raised is if the security of data is compromised or not.

A 6-day-long virtual panel discussion was organized by CorpGini on Zoom. It kickstarted on Thursday and several panellists discussed the topic 'How technology can help companies operate during a pandemic?'

"There's going to be some compromise in security because of digitalization. The numbers of phishing cases have increased immensely in India, with lots of frauds happening around this time masked as Covid19 threats," said the Global Cyber Security practice, Co-Leader & Partner, KPMG India, Akhilesh Tuteja.

Various other unique technology trends were discussed by the panellists during the session.

According to Hitesh Sachdev, Head of Startups, ICICI Bank, an increase in the usage of drone technology by the government for surveillance and by e-commerce giants and start-ups for delivery for essential supplies will be observed.

He also said that virtual call centers and chatbots can help lighten the load from employees and customer solutions and telesales is becoming more and more relevant

Gautam Balakrishnan from the CMO (Services) of Tata Projects Limited said that there is a tremendous update in workflow management systems. People were still using physical papers and everything before and now it's all digitalised.

On the other hand, Puneet Kaur Kohli, CTO, and CIO, Manappuram Finance Ltd For sales, the field-level delegation has become paperless, the everyday new feature is added to mobility, all Relationship Management has gone digital.

"Does security defines technology or technology defines security?" asked Ankur Garg, Chief of AI - Sonasoft, Venture Partner - Z Nation Lab.

Tuteja responded to the question by saying, "Security is way beyond technology, technology is the creator of data/information and security has to go hand in hand. if there is no data/information there is no requirement of security."

"Only if you have valuable data being shared, you need security. Security is a big profit center. I think security goes way beyond technology. In a large sense, it is about personal security, hygiene, and many more points," he added.