Addressing RBI compliance requirements for banks & NBFCs

Posted by Entersoft Team on Feb 13, 2019 3:19:38 AM
Entersoft Team

 

Entersoft Segasec

Segasec and Entersoft to strengthen their partnership in India

Tel Aviv, February 13, 2019 – India is among the top four nations targeted by phishing attacks according to a recent research. Consequently, the Reserve Bank of India (RBI) lately regulated that all Indian banks need to have in place a robust cybersecurity framework. This should include a Cyber Crisis Management Plan (CCMP) that addresses early detection, fast response, recovery and containment including protection against customer facing phishing attacks.

Phishing instances have seen an alarming rise worldwide, especially in India, where these attacks increased by 70% from July 1 to September 30 in 2018. Hackers target customers of different industries, however most attacks aim customers of the financial industry. Such phishing attacks jeopardize a company’s brand equity and customer trust that are the biggest assets of businesses.

Addressing this concern, Segasec, a leading cybersecurity and anti-phishing solution provider, and Entersoft, a prominent application security provider with a strong presence in India, are to strengthen their partnership to provide a consolidated solution for the Indian market safeguarding both inside and outside the perimeter of financial institutions.


India is one of the leading victims of cyber-crime; on the other hand, Israeli companies can provide innovative solutions to address India’s cybersecurity challenges, providing an additional ground for fruitful collaboration between the two countries. This topic was one of the many discussed between Indian Prime Minister Narendra Modi and Israeli Prime Minister Benyamin Netanyahu during Mr. Modi’s visit to Israel in July 2018.


“The Entersoft and Segasec collaboration in India is an additional stronghold in the two countries’ solid alliance that has been flourishing in recent years. The collaboration covers many important sectors, notably water, agriculture, tourism and cybersecurity,” said Dr. Shai Moses Consul for Trade and Economic Affairs, Consulate General of Israel to South India (Bangalore).


“The chamber has been working in the cyber sector for some time now, and having such a strong relations between an Indian and an Israeli cyber companies are great example for the value the chamber brings to its members” added to that David Keynan, Vice Chairman of the Federation of Indo-Israeli Chambers of commerce (FIICC).


“Segasec is very excited to work with Entersoft in APAC, and particularly in India. Our long-term relationship has been very fruitful in other areas in South East Asia, and we look forward to serving the Indian market as well. We believe that Entersoft offering some of the most reliable application security solutions, combined with Segasec’s distinctive proactive approach to tackle customer-facing phishing attempts, will bring the expertise and skills that enterprise industries need today and in the
coming years.” said Elad Schulman, Co-founder & CEO, Segasec.


“In Asia, the number of attacks via phishing and malicious emails is steadily rising. 36% of Indian banks have been targeted in last year and more than 2 lakh users has been victims of phishing attacks in India alone. With Segasec’s assistance, we aim to bring the incidents down and make organizations and their consumers more secure by going beyond application security.” - Mohan Gandhi, Co-founder & CEO, Entersoft.


About Segasec
Segasec is a leading cyber security company, its core products are focusing in offering cyber intelligence and an anti-phishing solution. Segasec helps companies to protect their customers from being falsely presented the company’s brand identity or from being virtually hijacked. Segasec monitors the web continuously and in real-time detects any phishing attacks at its preliminary stages.

Segasec’s patent pending threat protection engine knows where to find attack footprints, how to take them down, and even deceits. Its customers range from banks to retail to blockchain companies. Until today, Segasec’s solution helped billions of dollars to stay in the right hands. The company was founded by former officers of elite cyber and intelligence units in the Israeli army.


About Entersoft 
Entersoft is a leading application security provider helping organizations protect their products against malicious threats and compliance concerns. Entersoft believes that application security is a journey, not just a goal, and work with business leaders as partners and advisors to safeguard their applications with an integrated, proactive and forward-thinking approach.


Entersoft was launched in 2012 and has its headquarters in Bangalore, R&D centre in Hyderabad and offices in Brisbane and Hong Kong. Entersoft provides application security assessments, DevSecOps solutions and consulting services to enhance performance through proactive, collaborative and cost-effective security practices. Going beyond penetration testing, Entersoft helps build secure products by helping application developers mitigate and manage application threats effectively and quickly. We also integrate security into DevOps.

Innovation is at the heart of Entersoft. With ideas such as DevSecOps, Enprobe (Vulnerability Management), Bounterr (Private Bug Bounty program) and Paybank (Secure coding awareness), Entersoft engages the community and boardroom in a conversation, to embrace a culture where security is understood as an investment and not an expense. Through unique ideas such as gamification of secure coding training, Entersoft has been and educating and empowering businesses to shield themselves against security breaches, and the resulting financial and reputation losses.


Entersoft were awarded ETNe t(Economic Times Hong Kong) FinTech Startup of the Year in Hong Kong, FinTech Australia Finnie Awards as “Excellence in Cybersecurity” and recognised as “Best Innovation in Cyber Security & Anti Fraud”, Outstanding Application Security Solutions Provider. Entersoft is also a Supercharger accelerated company.

Entersoft and Segasec CEOs in Cybertech TelAviv:

ES_SS

References:
Entersoft Website: www.entersoftsecurity.com
Segasec Website: www.segasec.com

Covered by Deccan Herald. Link to article.

Topics: Application Security, FinTech Security, Hacks and news