Banks need to hire experienced chief risk officers to deal with cyber attacks: Report

The banking industry needs to upgrade its IT infrastructure and appoint experienced chief risk officers to effectively deal with incidence of cybercrimes, says a report by Deloitte India. Observing that banks are the most targeted sector, the report said that nearly 22 per cent of cybersecurity attacks which took place in India in 2018-19 were on the banking industry.

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