DSCI-KPMG Survey on State of Data Security and Privacy in the Indian Banking Industry

Posting the DSCI (Data Security Council Of India) announcement on this.

DSCI, on February 4, 2011, released the results of “DSCI-KPMG Survey on State of Data Security and Privacy in the Indian Banking Industry”. The Survey Report, released by Shri. G. Gopalakrishna, Executive Director, Reserve Bank of India, at an event held in Mumbai, aims to establish a ground for dealing with the security and privacy concerns and offers insight to Banking industry in better equipping themselves for data protection.

The need for such a survey and the understanding of security issues at the banks was highlighted with the enthusiastic response which the survey received from the public, private and international Banks.

Some of the key findings of the Survey Report include:

· Customer awareness on information security along with insecure customer end points is one of the most significant challenges faced by the banks

· External threats and the increasing usage of online & mobile channels along with regulatory requirements are driving banks in India to invest in information security

· Managing security is more challenging in online banking and phone (IVR) banking as compared to other service delivery channels

· Banks drive inputs from international standards such as ISO 27001 to establish their security function

· Absence of collaboration and synergy between Security and Fraud Management functions leaves a significant gap in banks’ effort to curb financial frauds


Please follow the following link to access the full Survey Report

http://www.dsci.in/node/601