PR No – 50
7th March, 2024
New Delhi
Collaborating with people across diverse organizations & across diverse ecosystems can help in managing and securing Complex technology networks across the world. — Dr. Rajeev Shorey, Adjunct Professor, CSE Department, IIT Delhi and IIT Gandhinagar.
04th March 2024, New Delhi: During a Round Table on “Cyber Security, Cyber Insurance & Importance of Data Protection Act” organized by the Banking, Financial Services & Insurance (BFSI) Committee of the PHDCCI in association with Insurance Foundation of India (IFI) at PHD House, Dr. Rajeev Shorey, Adjunct Professor, CSE Department, IIT Delhi and IIT Gandhinagar said that the complex technology network across the world can only be managed & secured by collaborating with people across diverse organizations & across diverse ecosystems.
Dr. Rajeev Shorey, Adjunct Professor, CSE Department, IIT Delhi and IIT Gandhinagar gave the presentation on Cyber Security and covered four important aspects: (1) Introduction and Motivation; (2) Technology Landscape; (3) Policy Ecosystem; (4) Domestic Ecosystem. He briefed about digital transformation like 6G, Cloud Computing, Virtual Reality and Quantum Computing. He said that the complex technology network across the world can only be managed & secured by collaborating with people across diverse organizations & across diverse ecosystems. He also highlighted edge computing playing a very important role in real time response and supporting industrial automation and smart manufacturing. He also briefed about the cyber-attacks and its mitigation and detailed about the cyber security policies and privacy block chain. He also shared the importance of privacy federated learning.
Mr. Sax Krishna, Global Chief Operating Officer, 3i Infotech Limited said that cyber-attacks can be handled by an integrated technological solution in a more efficient way and regular innovations in cyber security is the key to secure the system. He added that more trained and expert CISO need to be placed in the organizations to handle such issues of cyber Security.
Mr. Denny Wan, Standards Committee Member, FAIR Institute, Australia addressed virtually and presented the cyber insurance coverage by FAIR-MAM that is minimizing the risk of under or over–insured measure materiality of a business cyber risks.
Mr. Chirag D Joshi, CISO & Founder, 7 Rules Cyber, Australia addressed virtually and emphasized that cyber security is a big issue for every business and human attributes are most exposed when it comes to any cyber security incident. He said that in Australia, the regulator has a principle based standard to measure cyber risks; He highlighted the importance of lawyers to support the claims around materiality, incident response and insurance.
Mr. Arjun Bhaskaran, CEO, OPT- Cyber Security Solutions presented the importance of cyber security and cyber risk management. He also highlighted the security automation with cyber security controls assessment language.
Mr. Sudeep Pandey, Senior Underwriter, Casualty and Cyber, Munich Re detailed about the importance of cyber insurance for businesses. He said that cyber insurance is needed for every organization looking into the pace of cyber-attacks across the world.
Ms. Shahana Chatterji, Partner, Shardul Amarchand Mangaldas & Company gave her expert view point on the DPDP act. She said that the DPDP act is empowering the data principles by giving us a very comprehensive set of rights to exercise against data fiduciaries. This act is having primary obligation on a data fiduciary to maintain reasonable security safeguards to prevent a personal data breach. She said that the highest penalty under the DPDP act is Rs. 250 crores if such obligation is breached. She highlighted very important and critical aspects of the DPDP act.
Mr. S.K. Sethi, Co-Chair, BFSI Committee PHDCCI gave his welcome remarks & moderated the session. He also added his expert view points at the session.
Ms. Babeeta Sharma, Senior Secretary, PHDCCI gave concluding Remarks and Vote of Thanks and Mr. Sanjay Ahuja, Joint Secretary, PHDCCI coordinated the event very well.
The program was well supported by Ensure Cyber Security Solutions Pvt Ltd.; RIA Insurance Brokers Pvt Ltd. and PHDCCI annual sponsors DLF Ltd; Jindal Steel & Power; KLJ Group; Multani Pharmaceuticals Ltd; Marble City; MMG Group; Radico Khaitan Ltd; Uflex Ltd; Vestige; Eazy ERP Technologies; JK Tyre & Industries Ltd; Sagar Group of Industries; Superior Industries Limited; Samsung India Electronics; Oswal Greentech; Apeejay Stya Group; Blossom Kochhar Beauty Products Pvt Ltd; DCM Shriram; R E Rogers; Trident Group; Ajit Industries Pvt Ltd; Bhagwati Plastic and Pipes Industries; Central Coalfields Ltd; DD Pharmaceutical Ltd.; Hindware Sanitary; Jindal Steel; Modern Automobiles; P S BEDI & Co.
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Warm Regards,
Media Division
PHD Chamber of Commerce and Industry