You are here: Home » News-ANI » Technology
Business Standard

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

Technology Internet


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 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 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 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, April 09 2020. 16:46 IST