The Internet and Mobile Association of India, also known as IAMAI will be hosting the pursuit 2021, a conference aimed at reducing online frauds in the financial sector, with the help of technological aids. Lieutenant General Dr. Rajesh Pant, who also happens to be the National Cyber Security Coordinator of India, will do the honours of addressing the event. The event is likely to be attended by more than 2000 delegates.
The Covid-19 pandemic has brought about compelling changes in the world and it has affected our lives in every way possible, from the way we conduct our daily affairs and also the way we interact with each other. It has given a significant impetus to technological evolution since most of the businesses are being conducted online. A global shift of workforce moving from offices to working from home has increased our reliance on using cloud based technologies. As a result, bulk information dissemination is being carried out online. As a result, the pandemic has witnessed a sharp incline in the number of cybercrimes around the world.
According to a recent assessment on cybercrime, authorities have observed a gradual shift of focus from regular individuals to small and medium scale businesses to large corporations, government websites and even critical infrastructures. The workshop will be conducted over a period of two days in which discussions relating to various facets of cybercrime and other related frauds will take place. They will also be discussing the current technologies that the enforcement authorities are regulating in order to curb these crimes and keep them in check.
The first Cyber Security Coordinator of India, Dr. Gulshan Rai, will also take part in the event in the capacity of a speaker. He mentioned that with the ever increasing use of digital platforms and numerous other digital applications through which we conduct our daily life activities, from ordering groceries to paying monthly bills, the rate of misuse and abuse of these technologies has increased parallely. Certain sections of the populace are engaged in identifying the loopholes in the software and using these loopholes or glitches, they are stealing valuable information relating to financial transactions that people are conducting on their computing or mobile devices. After stealing this information, the perpetrators are actually monetizing it. Reports suggest that cyber attacks on financial institutions have gone up to almost 2000 times during the Covid period and that is one hell of a scary truth.
At present this is the toughest challenge facing the Indian financial sector. As the threat continues to rise, the Industry professionals are becoming more inclined to use available technologies to curb these threats. Revolutionary cutting edge technologies like Artificial Intelligence (AI), Machine Learning (ML) and Data Analytics are at varying stages of development and are being used widely to combat these elements and to safeguard the institutions in order to protect valuable information from being stolen.
This virtual conference will be serve as a platform for many such Regulatory authorities, Fintech organisations, Regtech Startups, Enforcement agencies and many experts on the concerned field who will discuss how they are coming together to combat this menace of cyber terrorism in the post Covid world. Those who attend the conference will have a chance to directly listen to the experts speak and gather an idea about their perspectives and ideas.
Many interesting topics will be covered here. For instance, new trends in the cybercrime domain, the evolving nature of frauds that are being carried out, the digital solutions that can counter these frauds, digital KYC and consumer awareness, how a balance is being sought after between financial crime and privacy law, compliance regulations, cyber security laws and many more. There will be discussions held regarding the ASEAN perspective and how to develop cyber resilience. The event will cover all these topics in over 50 sessions and interesting workshops. The attendees will have the opportunity to witness a host of professionals and industry experts join the event from India and overseas, who are actively working on this particular issue and will be able to gain insights directly from them.
Some of the notable speakers in this event are:
- Dr. Balsingh Rajput from Mumbai Police, who is the Deputy Commissioner of Police, Technology and Crime Prevention
- David Carlisle, who is the Director of Police and Regulatory Affairs, Elliptic
- Shri Sanjay Kumar, who is the Commissioner of Police from Kerala Police.
- Kiran Sivakumar, who is the Superintendent of Police, serving under the Government of India.
- Mona Zoet, who is the founder and CEO of RegPac Revolution and many others.
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