Cyber Security Forecast in BFS

GROUP-2
CARIS ANTONY MAMPILLY
PRASHANT PAL
HEENA KARIYA
TAVVA PADMARISHITA
 • Cyber security
•Cyber security is the practice of defending computers, servers,
mobile devices, electronic systems, networks, and data from
malicious attacks. It's also known as information technology security

What is or electronic information security.

• Cyber security in Banking

Cyber
•After all the steps, loss of data can lead to many sleepless nights for
a customer. Hence, cybersecurity is of the most essential in banking
to prevent cybersecurity threats that could make their customers
vulnerable.

security?
• Cyber security examples
•
It protects the privacy of data and hardware that handle, store and
transmit that data. Examples of Information security include User
Authentication and Cryptography. Network security aims to protect
the usability, integrity, and safety of a network, associated
components, and data shared over the network.
How is Cyber
security
relevant in
•Future in Cyber security
• AI will be the only way to handle the complexity and volume of data and
information feeds that both hackers and cybersecurity teams rely on.

the future?
Hence in the future of cybersecurity the use of AI by hackers and security
teams will be a common theme as AI systems become more available,
capable, and affordable.
• What is the future of security?
• “Security will be nearly invisible for all users and many of the standalone
security tools will disappear. This will be a result of advanced security
technologies being built into devices and platforms by default, instead of
bolted on as an afterthought. “In 10 years, Private Computing will be
ubiquitous.
•Why Cyber security is the important key for the future point
•Cybersecurity is important because it protects all categories of data from
theft and damage. ... Both inherent risk and residual risk is increasing,
driven by global connectivity and usage of cloud services, like Amazon
Web Services, to store sensitive data and personal information.
•Cybersecurity ever go away? - cybersecurity defence in depth strategy
will not go away.
Which all are the main
sectors were the cyber
security is important?
Information or data
Application security. Network security.
security.

Disaster
Operational
recovery/business Cloud security.
security.
continuity planning.

Critical
infrastructure Physical security Finance
security.

Transportation Education
• The coronavirus pandemic has created new challenges for businesses as
they adapt to an operating model in which working from home has
become the ‘new normal’. Companies are accelerating their digital
transformation, and cybersecurity is now a major concern. The
reputational, operational, legal and compliance implications could be
considerable if cybersecurity risks are neglected. This article examines the
impact of COVID-19 on cyber risk and mitigation measures that
businesses can take.

• Over 290,000 cyber security incidents related to banking reported in

2020.

• A total number of 1,59,761; 2,46,514 and 2,90,445 cyber security

incidents pertaining to digital banking were reported during 2018, 2019
and 2020, respectively.

• Cyber security incidents jumped from 3,94,499 in 2019 to 11,58,208 in

2020, according to the data shared by the government. The information
tracked by the Indian Computer Emergency Response Team (CERT-In)
showed that such attacks saw a four-fold jump in 2018 and recorded an
89 per cent growth in 2019.

• These incidents included phishing attacks, network scanning and probing,

viruses and website hacking.

• Cyber security incidents jumped from 3,94,499 in 2019 to 11,58,208 in

2020, according to the data shared by the government. The information
tracked by the Indian Computer Emergency Response Team (CERT-In)
showed that such attacks saw a four-fold jump in 2018 and recorded an
89 per cent growth in 2019.
• 1) Define Clear Boundaries. ...
• 2) Deter Insider Threats. ...
• 3) Security Awareness Training. ...
• 4) Network Segmentation. ...
• 5) Vulnerability Management and Remediation. ...
• 6) Security and Privacy by Design. ...
• 7) Review Latest Cybersecurity Cases. ...
• 8) Data Mapping.
• Enforce password rules. Strong passwords are one of
the first lines of defense against breaches and
changing them occasionally may help keep hackers
out.
• Update regularly.
• Implement VPNs for all connections.
• Retire all unused services.
• Leverage existing security options.
Important of Cyber
security in Next 5 years
Cyberattacks are now so common, recent reports show that hackers attack a computer in
the US every 39 seconds!

With the advent of 5G network. According to The Brookings Institute, “5G networks thus
create a greatly expanded, multidimensional cyberattack vulnerability.

There has been an influx of hacks and breaches of name brand companies in recent years.
It is causing millions of dollars in damages to recover the data and penalties paid through
fines.

Not only do nations and businesses face threats from the actions and intentions of
hackers, but individuals face many risks as well. Identity theft is a huge issue, where
hackers steal an individual’s personal information and sell it for profit.

With cybersecurity threats increasing new laws can be placed to protect the consumer
from potential attacks. This would mean that increased regulations and legislation may
soon become a reality. Harsher penalties need to be placed on perpetrators of the attack.
After 5 yrs. what will be
the changes that will
happen in the world
with the cyber security?

• Implementing a good risk management strategy

• More intelligent response to ransomware

• Data governance and accountability will be more

important

• Better Security Communication

• Shifting focus from prevention to protection