RBI to conduct cybercrime audit to check loopholes in IT systems of banks

The Reserve Bank of India is looking to scrutinize security of banks a month after the biggest financial data leak from Indian banks took place.

It is looking for outside help that would try and exploit holes in the information technology systems of the bank to shield them against similar security breaches in the future.

RBI has already put a team in place that would be headed by Nandkumar Sarvade, a retired IPS officer and an expert in bank fraud and terrorism cases. It is looking to hire techies in the coming months whose job brief will include checking IT systems of the banks.

Earlier this month, it was reported that security codes of about 3.2 million debit cards were found to be at risk from fraudsters who had stolen vital data for six weeks through July and August.

While the RBI had come down hard on banks and directed them to submit a report on the security breach at their ATMs, the audit would directly deal with the loopholes in IT systems of banks.