08:46 AM
How Secure is India?
One of India's first surveys on security across the country's financial institutions has found that 30% of banks reported to have been victims of identity theft during the last year.The study, carried out by Singapore-based software company ReadiMinds, also found that over 57% of banks do not have a dedicated budget for online security, which is still considered part of the overall IT budget.
Only one third of respondent banks have a formal plan in place for creating customer awareness against online identity theft and financial frauds.
Meanwhile, the survey also found that man-in-the-middle attacks have reached Indian shores, with 10% of banks reporting attacks in 2007. Thirty percent of banks reported being victims of phishing.
Survey respondents represented a cross section of India's top 40 banks.The study, carried out by Singapore-based software company ReadiMinds, also found that over 57% of banks do not have a dedicated budget for online security, which is still considered part of the overall IT budget. Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio