The RBI has published a comprehensive Cyber Security Framework in Banks that includes several key areas that need to be addressed by banks. As a CERT-In Empanelled Security Auditor, Security Brigade can help you address a wide range of these requirements.
Banks are increasingly using technology, leading to a rise in cyber threats. In response, the Reserve Bank of India (RBI) first issued guidelines in 2011, emphasizing the need for banks to continuously update their cybersecurity measures. The growing number and severity of cyber attacks in the financial sector highlight the importance of having strong, adaptable cyber defenses and response plans. This is crucial for maintaining the security and resilience of the banking system against evolving cyber risks.
Complying with RBI’s Cyber Security Framework
Across our portfolio of Cyber Security Consulting and Compliance Services from Security Brigade and our Award Winning Digital Risk Management Platform, ShadowMap – We can help you comply with a wide number of areas required in the RBI Cyber Security Framework.
Continuous Surveillance
Banks are advised to establish mechanisms for continuous surveillance to protect personal data and stay abreast of emerging cyber threats. This includes monitoring across the surface and the dark web, focusing on mentions of the bank, its brand, and its infrastructure.
Our ShadowMap platform can allow you to carry out Comprehensive Continuous Attack Surface Monitoring, Dark Web Monitoring, Data Leak Monitoring, Brand Protection and Active Threat Monitoring.
Protection of Customer Data
Banks must take steps to ensure the confidentiality, integrity, and availability of customer data, both in transit and in storage. This involves establishing systems and processes across the data/information lifecycle, including monitoring for data leaks on the web and the dark web.
ShadowMap’s ability to continuously and proactively detect Data Leaks, Misconfigurations and Vulnerabilities allows you to proactively identify and mitigate breaches before the can grow into an active accident that can impact your customers. Our Third Party Data Breach modules helps protect you and your users from downstream breaches at SaaS platforms, cloud providers etc.
Reporting Cybersecurity Incidents
Banks are required to notify the RBI of all unusual cybersecurity activities and incidents, which includes monitoring for and reporting of incidents involving the dark web.
ShadowMap’s reporting engine allows you to generate incident specific reports that can be shared with third parties, regulators and others that need to be kept in the loop.
Vendor Risk Management
Banks are accountable for managing security risks pertaining to outsourced and partner arrangements, which may involve monitoring third-party sources that could leak sensitive information, potentially available on the dark web.
ShadowMap’s comprehensive Vendor Risk Management platform allows you to track all of your vendors in near real time and get accurate Security Risk Scorecards for each of your vendors. These score cards include details about active vulnerabilities, latest data breaches, data leaks, dark web leaks, etc.
Advanced Real-time Threat Defence and Management
Banks are encouraged to build robust defence systems against malicious code and to implement secure web gateways for deep scanning of network traffic, which would include monitoring threats from the dark web.
ShadowMap’s integrated Threat Intelligence Platform allows you to have real-time visibility on attack trends, industry attack vectors, active threat actors, etc. More over our Vulnerability and Threat platform helps raise alerts for active misconfigurations, vulnerabilities, data leaks, etc that can be leveraged by attackers.
Manage inventory of IT assets
Banks are required to maintain an up-to-date inventory of their IT assets. This includes infrastructure and business applications that are crucial for their daily operations and cybersecurity posture.
ShadowMap’s Attack Surface Management platform allows you to maintain a real time asset inventory of all your public infrastructure, SaaS platforms, Cloud Platforms, Hosting Providers, etc.
Secure Configuration
Banks are required to document and apply baseline security configurations to all categories of devices. This is an essential part of their cybersecurity measures to ensure that all IT assets are configured in a way that minimizes vulnerabilities and protects against potential cyber threats.
ShadowMap’s Attack Surface Management platform along with our Vulnerability and Threat Platform ensure that you have a complete visibility of your public exposures, risks and threat associated with them along with any common misconfigurations or data leaks related to them.
Furthermore Security Brigade’s Consulting Services can help you carry out Comprehensive Web-Application Penetration Testing, Network Penetration Testing, Network Vulnerability Assessments, Secure Code Reviews, etc.
Brand Protection, Anti-Phishing and Takedowns
These guidelines advise banks to implement anti-phishing strategies to detect and counteract phishing attacks. Phishing is a significant threat where attackers attempt to acquire sensitive information like usernames, passwords, and credit card details by disguising themselves as trustworthy entities in electronic communications.
ShadowMap’s Brand Protection Platform provides comprehensive coverage including Phishing Detection, Domain Squatting Detection, Impersonation Websites, Fake Social Media Profiles, Fake Google Listings, etc. In-addition, our Integrated Takedown Services help ensure that identified pages can be taken down within fixed SLAs and action can be taken against repeat offenders.
Vulnerability Assessment, Penetration Test, and Red Team Exercises
The RBI guidelines emphasize the importance of Vulnerability Assessment, Penetration Testing, and Red Team Exercises for banks. These practices are critical components of a robust cybersecurity framework, allowing financial institutions to proactively identify and address potential security weaknesses.
Security Brigade’s CERT-In Empanelled Team of Security Auditors can help you carry out Comprehensive Red-Team Security Assessments, Network Vulnerability Assessment and Network Penetration Testing on a regular cycle.
