Experts from different sectors discussed many aspects of cyber crime and data privacy at a summit here on Friday.
The event, acknowledging the importance of data in the digital revolution, was organised by Bharat Exhibition. It was the fifth edition of ‘Cyber Security & Data Protection India Summit ’.
Expert opined that the need of the hour is to ensure growth of the digital economy while keeping personal data of citizens secure and protected.
Data is being considered as the new oil and in the current economic climate all organisations are looking to exploit the information it holds as much as possible.
While many organisations are looking at how they can make most of the data that they have, there are also concerns on how to protect their business data. With data breaches multiplying in frequency and scale, the importance of addressing cyber-security at the highest levels of corporate leadership cannot be understated, experts said.
The event brought around the best minds in Cyber security under one roof to create an interactive milieu for exchange of knowledge and ideas and addressed the emerging and continuing threats to Cyber security and its changing landscape, as well as respond to increasing risk of security breaches and security governance, application security, cloud based security, Network, Mobile and endpoint security and other cyber risks in the India and abroad.
While giving the special address, Major General. Sandeep Sharma of National Technical Research Organisation (NTRO)agreed that the cyber attacks were seeing an upward trend and almost every sector is affected by the same.
He said, “As the data breaches increase in scale and frequency, business today must prepare to ensure an effective, swift and well orchestrated response.” Adding a whole new dimension to the discussion, Member Governing Council of CRIS, Ministry of Railways & Member Taskforce IT, Ministry of Road, Transport & Highways and Shipping Vinit Goenka shared how Railways had started harnessing the data that they had at their disposal and that has lead to an increase in operational efficiency and more tickets getting confirmed. He suggested, “Why not convert this data into an opportunity for the country. We could have created data sovereignty patterns. The data that we have capitalised, monetised and we should not be restricting our conversation only around protecting the data”.
Deloitte Touche Tohmatsu India Senior Manager Amit Verma said, “India has had an amazing growth in the digital space. As of June 2018, 62 percent of urban population and 53 percent of rural population access the Internet daily.”
He said Digital transactions which touched $25 billion last year, is expected to cross $50 billion this year. “We have150 million social media users, 1 billion mobile connections and 400 million smartphone users in India,” he added.
India’s cyber security market size is about $4 billion, which is expected to grow to $35 billion by 2025. Broaching the topic of GDPR Passport Seva Project Chief Technology Officer Golok Kumar Simli said, “GDPR has given more power to the consumers. It has brought back maximum focus towards the users. It has also brought an open kind of environment for the lawmakers to investigate.”
Sharing his perspective on whether the end users today understand about data security and privacy, Goods And Services Tax Network Senior Vice President & CISO Anand Pande said, “People do understand the importance of security, privacy I think we are stil catching up with the overall concepts and its importance as a nation”. He further added, “In GSTN, Data privacy and data security are the critical key pillars for designing the system”.
Sharing a different perspective on the cyber security issue, National Crime Records Bureau Deputy Director Prashun Gupta said, “There is a need to relook into the cyber security strategy. Every day we find at least 2-3 cases of cyber crimes”. He even mentioned that the maximum cases are that of ATM frauds and suggested that before dispensing any money, the ATM machine can be programmed to ask for an OTP and that can help eliminating this fraud.
Paytm Vice President Saurabh Jain said, “There are many challenges that we are facing in the security front, one of which is phishing. Phishing attacks are becoming very common and as a nation we will have to do something in a very comprehensive way to tackle this issue such as public awareness campaigns”. Talking about IoT, Jain said. “Organisation engaged in IoT are talking about solutions and not really thinking about the security aspects.
Talking about the legal perspective, Cyber Law expert Pavan Duggal said, “The only remedies that the consumer today have are under the Information Technology Act. There is a need for a stronger law as the IT Act on its own is not sufficient. Cyber crimes are the new normal and all users should do their own due diligence.” He even spoke on how implementation of GDPR in EU is a big boon for users in India.
Mr Rohit Singh, Country Manager – Asia Pac & India Region, Telesoft Technologies said, “Cyber Security at large scale for protecting the critical network infrastructure with Open Source, FPGA based, Small Footprint Technology.”