eNews
Information and cyber insecurity is second most risk factor in Indian industries: FICCI
NEW DELHI: ‘Information & Cyber Insecurity’ has been ranked as the second biggest threat to businesses in India, for two consecutive years.
The high rating points to the fact that it is a persistent risk for both private and government sectors in a high-technology driven global economy, where a growing trend is the rise in cyber-aided hacking. Information insecurity along with infringement of intellectual property and corporate fraud remain some of the crucial concerns in business strategy, across sectors and geographies.
A study of FICCI shows that information and cyber insecurity stands at 9.71 per cent out of an overall rating of 15 per cent, only next to strikes and labour unrest.
Interestingly, strikes and closures, crime, and workplace violence and sexual harassment are the top three threats in the media and entertainment sector.
The India Risk Survey 2016 shows that information and cyber insecurity is the third most risk factor in south India, while Intellectual Property Theft is the second largest risk factor in east India.
But among sixteen sectors surveyed, it is the top most risk factor in government and public service undertakings, financial service, IT/ITES (where intellectual property theft is the second biggest risk factor), and telecom, and the second most risk factor in education.
The National Crime Records Bureau (NCRB) recorded a total of 7,201 cases under the IT Act in 2014, showing a 65 per cent rise from 2013. Symantec estimated one million web attacks every day in 2015. A SophosLabs research ranked India at No. 5 among the countries with the highest percentage of endpoints exposed to a malware attack. The spear-phishing campaigns targeting employees has increased by 55 per cent in 2015.
‘Information & Cyber Insecurity’ is a persistent business risk in a high-technology driven globalised economy. Indian companies are increasingly being targeted, which is reflected in the high-risk rating given by the Government & PSU and Telecom sectors to risk of ‘Information & Cyber Insecurity’. With increase in the number of people.accessing the internet through any mode, computers or hand-held devices, and the growth of revolutionary financial transaction platforms for online shopping and payments, this risk is definitely going to increase further.
Government data sourced from the NCRB shows a total of 7,201 cases were registered in 2014 under the IT Act,16 which registered a 65.3 per cent rise in cyberrelated cases as compared to 2013. Greed or financial gain accounted for the maximum 18 per cent of the cyber-crime cases. In real terms, it stood at 1,736 out of 9,622 cases.
eNews
Paisabazaar launches Credit Premier League 2.0
Nationwide campaign rewards highest credit scores with Rs 1 lakh top prize.
MUMBAI: When credit scores become a national league, even your CIBIL report starts feeling like it’s playing in the IPL and Paisabazaar has just kicked off the second season. Paisabazaar, India’s leading marketplace for financial products and the country’s largest free credit score platform, has announced the return of the Credit Premier League (CPL) 2.0, a fun, nationwide initiative to recognise and reward individuals with the highest credit scores.
Building on the success of the first edition, CPL 2.0 introduces higher rewards and broader participation. The individual(s) with the highest credit score in the country will win Rs 1 lakh, while state champions will each receive Rs 10,000. Additionally, all participants from the winning state, the one with the highest average credit score will also be rewarded.
All winnings will be credited directly to winners’ PB Wallet, allowing them to pay credit card bills, recharge mobiles, or settle utility bills seamlessly on the Paisabazaar platform.
Paisabazaar CEO Santosh Agarwal said the campaign aims to make credit awareness more engaging and mainstream. “With CPL, we are bringing together engagement, gamification and rewards to make conversations around credit scores more mainstream,” he noted. “Our focus remains on building a financially aware and credit-healthy Bharat.”
The first edition of CPL saw over 5.5 million participants, with the highest individual score touching 861. Delhi recorded the highest average credit score of 746.
Consumers can participate simply by checking their free credit score on the Paisabazaar platform or app. The CPL leaderboard and rankings will be available exclusively on the Paisabazaar App.
In a country where financial dreams are serious business, Paisabazaar has found a smart way to turn credit scores into an exciting game – because when your financial health gets rewarded, everyone wants to play.
