Business / Industry Sectors
Israeli expertise on cybersecurity for India
08/09/2014
According to Israel's National Cyber Bureau, Israel's cyber-security market has grown manifolds since last year. Exports related to cyber-related products and services are nearly touching $3 billion and captures 5% of the global market.

Israel is turning out to be a growing source for IT security systems for India where demand for such products are on the rise due to increased penetration of net banking and e-commerce.

The cyber-security market in Israel has grown manifold over the last few years with exports of cyber-related products and services touching $3 billion last year which is 5% of the global market, according to Israel's National Cyber Bureau (NCB).

Security experts Mr. Tal Mozes, leader of Hactics at E&Y Israel and Mr. Menny Barzilay, head of IT audit, Bank of Hopoalim Israel were in Mumbai recently to make a presentation to Indian bankers.

According to Mr. Mozes, threats to cybersecurity had increased and sophisticated attacks which could only be undertaken by state level players was now possible even for smaller groups and individuals. This was largely because of the emergence of the Darknet-the underground communications network in the online space-where one could hire hackers or sell card data. Also hacking devices are cheaply available on Chinese websites.

In India where many are getting online for the first time through a mobile device the weak link is the handset. "Major manufacturers such as Google or Apple design mobile phones for the end user who is more concerned about the functionality and design of his device and not its level of security," said Mr. Brazilay. He added that the end-user perceives security as the responsibility of the banks and do not want to be worried about it and the manufacturers give them what they want - a smart phone, which is very easy to handle but not so secure.

"In the connection between a computer or a smartphone, and a bank's website, there are three points that could be attacked -the user's computer or smartphone, the bank's website, and the network connection between them.

"Usually the weakest link in this chain is the user's computer or smartphone," he added. According to Mr. Barzilay, banks need to implement ways to identify when the user is being impersonated. They also need to change consumer behaviour and educate customers that security is a shared responsibility.

 

Source: Economic Times

 

 

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