New Delhi, Oct 23 (IANS): Following the unprecedented security breach reported earlier this week that has “compromised” card data of many private and state-run banks, industry body Assocham on Sunday said it had earlier cautioned about such frauds. Citing its recent study, the Associated Chambers of Commerce and Industry of India (Assocham) said that “India has become a favourite hunting ground for global hackers and criminals”. “The credit/debit/ATM card frauds as detected by some of the largest banks were waiting to happen as India has been on the radar of the global cyber criminals who hack into the computer servers using malware, an Assocham-Mahindra SSG joint study had forewarned,” the industry chamber said in a statement here. “Assocham has been continuously sensitising the government, RBI and the banks against the unfolding cyber risks,” Secretary General D.S. Rawat said in the statement. Assocham said “there is urgent need for having public-private-partnership (PPP) in cyber security for protecting the critical online data and creating awareness amongst the public”. “The government and regulators should develop comprehensive cyber security policies and frameworks from the perspective of incentives, tax breaks and technological development.” “India should ensure active collaboration with the other countries and global cyber security agencies through international treaties in order to understand the latest threats and take proactive security measures,” it added.
