The demonetisation of high value notes has not only taken Indian citizens by surprise but also the huge Indian diaspora living in the Gulf countries, US and UK and else where as well. Moreover, disappointingly the Indian cyber security system isn't sophisticated enough to cope with the challenges put forth by professional hackers like Legion. The after-effect of this digital transition will be more disastrous until and unless individual financial organisations identify weaknesses in encryption operation and prop up the system to protect data from adversaries. Even Android and iOS platform-based smartphones suffer with multiple vulnerabilities, and so do a majority of ATMs in India that operate on outdated software such as Windows XP.
- Johny Zacharia, Dubai
Published: Sat 24 Dec 2016, 8:03 PM
Updated: Sat 24 Dec 2016, 10:11 PM
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