Friday, June 16, 2017

PERSISTING CYBER CRIMES AS A RESULT OF POOR TRAINING AND POORER INFRASTRUCTURE: PHD CHAMBER

A seminar on “Cyber Security, Crime & Insurance: Current Scenario and Way Forward” held here on Friday under aegis of PHD Chamber of Commerce and Industry has revealed that India Inc. even now is barely prepared to combat the repeated onslaught of persistent cyber crimes and thus needs to be sufficiently awakened to plug consequences of such crimes with adequate training to its IT and security personnel with plenty of infrastructure pertaining to tools, equipment and devices.

It has also concluded that in the absence of stringent laws and even suitable legislations, the cyber crimes are persisting with little remedies since law enforcing agencies are unable to tackle such acts with sufficient prosecution and conviction, the primary reason attributed to this failure is lack of either awakening or adequate training.

The fallouts and repercussions of this scenario have not allowed the cyber insurance sector to evolve with positivity or objectivity.  The awareness of the threats facing industry and trade due to the seriously growing cyber crime must percolate down the order and reach all general insurance companies, routed through IRDA & SEBI.  The insurance companies need to put more coverage emphasis with the industry clients and the Chamber shall encourage this objective and facilitate betterment of the industry’s risk mitigation and protection.

Those who made the aforesaid observations during the seminar comprised Joint Commissioner of Police (Special Cell), Delhi, Dr. Madan Mohan Oberoi; Managing Director, Ace Insurance Brokers (P) Limited, Mr. Anil Arora; Dy. Director General, International Institute of Security & Safety Management, Maj. Gen. Rajesh Arya, VSM & BAR (Retd.); Sr. Vice President, PHD Chamber, Mr. Anil Khaitan including Co-Chairman, Insurance Committee, PHD Chamber, Mr. S K Sethi and its Director, Mr. Debjit Talapatra.

Not only India lacks the required laws and regulations to strangulate the origin of cyber crimes, it and its industry has yet to arouse themselves to plug the loopholes in the cyber crimes which today concern each and every Indian whose data could be stolen by hackers as they are step ahead from the monitoring agencies.  This is the situation that prevails largely in developing world though the developed world is equally threatened with this menace.


The Seminar was organized keeping in view the criticalities arising out of cyber crimes that have threatened the entire world and the way forward suggested was adoption and adaption of technologies by the masses with sufficient precaution and equally through cementing cooperation of all countries world over.

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