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NSE flags concern over potential cyber attacks on financial market

World Economic Forum has listed cyber attacks as one of the four major risks today and in the years to come

Press Trust of India  |  Mumbai 

On July 4, Sebi had served fresh show cause notices to NSE and over 20 others for alleged violation of norms

(NSE) today raised concern over potential for large-scale on and called for setting up the standards to bring about the change through talent empowerment and investment in innovation.

Increasing global interconnectedness and complexity of systems make the risk of a large scale cyber attack even more pertinent and threaten the stability of financial markets, its managing director and chief executive officer, Vikram Limaye, said Tuesday at the 'Future Tech 2018'.

"The potential for large-scale on infrastructure at a very low cost is a major risk across the globe," he added.

has listed as one of the four major risks today and in the years to come.

The Ponemon Institute's 2017 Cost of Data Breach Study pegs organisations in India, and as the most likely to experience a material data breach in the next 24 months.

Limaye pointed out that as leaders in the capital market space, it is our responsibility to set the standards and the FutureTech series is one of the many initiatives taken up by the exchange to bring about the change through talent empowerment and investment in innovation.

"Our focus is on building resiliency and security to ensure that the capital and its constituents are able to provide the services that they are intended for, he said.

The capital market ecosystem is considered as one of the important segment in the national critical infrastructure (NCI) of any economy, he said, adding rendering it vulnerable and susceptible to cyber breaches or security threats would damage and impair the economic and social fabric of the nations.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, September 05 2018. 00:57 IST
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