Axis Bank appoints EY to probe cyber attack: Report

India's third-largest private-sector bank Axis Bank has appointed auditing firm EY to probe a cyber attack that came to its notice last month, a report in the Economic Times says.
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Oct 19, 2016, 07.17 PM | Source: Moneycontrol.com

Axis Bank appoints EY to probe cyber attack: Report

India's third-largest private-sector bank Axis Bank has appointed auditing firm EY to probe a cyber attack that came to its notice last month, a report in the Economic Times says.

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Axis Bank appoints EY to probe cyber attack: Report

India's third-largest private-sector bank Axis Bank has appointed auditing firm EY to probe a cyber attack that came to its notice last month, a report in the Economic Times says.

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India's third-largest private-sector bank Axis Bank has appointed auditing firm EY to probe a cyber attack that came to its notice last month, a report in the Economic Times  says.

The ET report said Axis was contacted by an engineer from Moscow-based Kaspersky anti-virus firm who told the bank that he had discovered a bug in Axis' systems while carrying out a separate probe.

The bank has filed a report with the Reserve Bank of India appraising it of the situation.

This is not the first time a cyber attack has been carried out against a financial institution in India.

The ET report lists instances of a depository and a large public sector bank that had suffered a cyber attack.

In June this year, the Reserve Bank of India had formulated a comprehensive policy that it wants banks to roll out.

The guidelines outline an indicative set of baseline cyber security and resilience requirements,  steps to set up a "cyber security operation centre" and a template for reporting incidents to the central bank.

Axis Bank has strong security systems and procedures in place. We have a large team of IT professionals and security experts who are constantly monitoring our systems, and mitigate any threat, said an official spokesperson of Axis Bank.

The spokesperson further added: "Our internal monitoring mechanism identified such a threat recently and all steps have been undertaken to neutralise the same."

"There has been no loss to our customers," the spokesperson said.

 

 

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