Need to firewall systems to counter cyber risks around GST
GST
Dated:- 19-6-2017
New Delhi, Jun 18 (PTI) As the country is gearing up to usher in the Goods and Services Tax (GST) from next month, experts have cautioned that the government as well as firms should firewall their systems to deal with increasingly more complex cyber threats.
\nBilled as the country's biggest taxation reform since independence, the Goods and Service Tax (GST) is expected to kick off from July 1.
\nExperts opined there could be a rise in the number of security incidents, if the government and private players do not prepare themselves adequately to address the potential cyber risks around the GST.
\nPwC India Partner and Leader (Cyber Security) Siva<\/p>\n
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\n"It is of utmost importance that the cyber security unit is not only capable of detecting security threats but also conducting fraud investigations and forensics whenever needed," he said.
\nOn cyber threats, Rohan Khara of mobile wallet company MobiKwik said even small glitches can mean major disruptions, which is why his company has set up a robust technology infrastructure to handle billions of transactions.
\n"We even use predictive analytics that can forewarn of cyber issues," he said.
\nThe expert from PwC further said that in order to de- risk themselves, companies must adopt new approaches to cyber security, governance and monitoring proces<\/p>\n
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