WannaCry Malware Beaten By Outdated Indian ATM’s
With a widespread devastation of the WannaCry Malware across the world in over 150 countries, India finds its banking segment least affected. Indian banks and ATMs, in general, suppose to be running on systems less sophisticated compared to the global counterparts. But it has come as a blessing in disguise as the WannaCry malware was not successful in having a major effect on its banking systems as compared to banking operations across the world.
There have been no reporting from major banks or Reserve Bank of India about any inappropriate financial systems. Apart from a few incidents reported from small banks in South India, where the magnitude of the attack was low and damage done was not much.
Bank official from leading bank in India, State Bank of India told Economic Times – “We are closely monitoring the situation and have instructed the local IT teams of our bank to keep a watch on the systems in branches. In some cases, the malware comes from external devices interacting with the banking networks. We are keeping that under check too.”
There has been a major WannaCry malware outbreak across the globe. In this situation, Indian financial systems claim to have been largely unaffected which is a cause of concern as its been an old practice of Indian banks to downplay and under-reporting cyber crimes which have even attracted the regulator’s criticism.
Earlier this year while speaking at ‘Information Technology and Cyber Risk in Banking Sector’ Reserve Bank of India Deputy governor SS Mundra said – “Another area of concern is the patch management. OEMs (original equipment manufacturers) release patches after known vulnerabilities are escalated to them and if the patches are not rolled out in time, we are practically leaving the door open for exploitation.”
A protocol is in place for all employees listing out the do’s and don’t’s and asking them to keep away from suspicious links.
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