WebinarsNew
Deep DiveNew
Explore Business Standard
State-run Bank of Baroda has scaled up its cybersecurity framework across technology, personnel, and operational processes following a July 2026 incident, with overall IT defence spending set to exceed 10 per cent of its operating profit, a senior official said. It is very difficult to estimate the exact jump in tech spending above normal thresholds at this point in time, its managing director and chief executive Debadatta Chand told PTI, adding that the July incident involving a compromised employee email was a "huge wake-up call". Listing out the additional spends being incurred by the lender, Chand said, "Obviously, it (technology spend) will be going above 10 per cent of the operating profit". Tech spending, including capital investments and operating expenses, has been restricted to within 10 per cent of operating profit for many years and accordingly, the bank makes its annual budgets, Chand said. Some of the spends will be incurred in FY27, while some may also go into the ne
The US government isn't doing enough to fight the surge in cyberscams, and partnerships with the private sector remain fragmented and voluntary, an investigation into the global scam industry led by the Joint Economic Committee of the US Congress has found. The government doesn't even have a unified accounting of how much money has been seized from overseas scam compounds, nor how much has been returned to victims, according to the report, released Tuesday by ranking Democrats Senator Maggie Hassan and Rep Don Beyer. Citing findings from a yearlong investigation into global scams by The Associated Press and FRONTLINE, the report called for greater collaboration across agencies, support for victims, and deeper private sector engagement. "Transnational criminal organisations run massive compounds that exploit US technology, including AI, to carry out scams against Americans with devastating consequences," Hassan said in an email. "The scale of this exponentially growing challenge ...