Cyber attacks on banking a worrying trend: Dy NSA

With government pushing for cash-less economy, Deputy National Security Advisor Arvind Gupta today asked banks to adopt a robust infrastructure so that digital transactions are secured.
In the recent past, he said, several high profile attacks have taken place on the banks, "this is a worrying trend".
"Cyber security issues are now top of the national security agenda and such issues are given more importance than even the nuclear issues that used to top the international security agenda," Gupta said.
He also asked the banking industry to be more forthcoming in sharing the incidents of financial security frauds and helping in chalking out timely response.

"Now, with India going towards less cash economy, major thrust for the government is to promote digital transactions, banking industry must make a robust infrastructure so that digital transactions are secured," the Deputy NSA said.
Terming cyber threats as a major challenge to both national and global security and economies, he said there was a need for clear legal framework to fix the responsibility in case of an attack that cripples networks and affects consumers.

"Also, unlike the nuclear issue, the concept of deterrence in cyber space is somewhat restricted. Offence is easier than defence in cyber space. To attack is cheaper than to defend," Gupta said.

The Deputy NSA said cyber space knows no boundaries and cyber criminals and attackers cannot be tracked easily.
The problem in jurisdiction in cyber space is difficult to resolve, he said.
"It is difficult to attribute the source of attack in the cyber space, and non-attributability encourages the cyber criminals and attackers to undertake more such attacks," Gupta said addressing a seminar on Cyber Security organised here by CII in partnership with Israel's Tel Aviv University.
Stressing that the governments have been entrusted with
the leading role in cyber security matters related to national security, he said, "They cannot work alone, they need cooperation. Cooperation between government and industry is critical to any cyber defence strategy."

He said there was a need for regular and meaningful dialogue between various stakeholders particularly, the government, private sector and academia in creating an ecosystem for a robust cyber defence strategy.
Addressing the seminar, Israel's Ambassador to India Daniel Carmon said India and Israel have been cooperating in a number of fields including agriculture.
"We will do the same in cyber security field," he said.
Carmon said there was a need for creating awareness sharing knowledge and getting prepared for such attacks.
Expressing his country's desire to share its expertise in the field of cyber security, he said, "We know how defend ourselves from physical as well as cyber attacks."

"Cyber diplomacy needs cyber protagonists and partners. We are sure that we have good kind of partner (as India). Cyber security is no longer a luxury but a necessity. Let's imagine the unimaginable and get prepared," the Israeli envoy said.
Former Rajya Sabha MP Tarun Vijay stressed on the need to make the lawmakers aware about the issue and strengthen our own cyber instruments. He also stressed on the need to add cyber security in the school curriculum and proper faculty to train the trainers.