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- Committee noted that,
- 373 govt websites were hacked in the past 5 years (2018-2023).
- Low recovery rate i.e 10.4% of the transactions reported over the last three years (2020-2022).
- Others issues highlighted includes Money Laundering by Fintech, Biometrics cloning, etc.
- Recommendations of the committee
- Multipronged approach with effective coordination of all stakeholders to deal with cyber frauds.
- Rationalisation of Micro-ATMs and Banking correspondents in hotspots.
- Existing Framework of Cyber Security
- National Cyber Security Framework, 2013
- National Security Council Secretariat (NSCS) is responsible for coordinating, overseeing and ensuring compliance with cyber security policies.
- Legislative measures like Information Technology (IT) Act 2000.
- Dedicated agencies like Indian Computer Emergency Response Team (CERT-In)act as the National agency (under Section 70B of the IT Act) for cyber security.
- Computer Security Incident Response Team-Finance Sector under CERT-In.
- National Critical Information Infrastructure Protection Centre (NCIIPC)-Nodal Agency in respect of Critical Information Infrastructure Protection.
- National Cyber Security Framework, 2013
Critical digital infrastructure
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