In a strategic move to combat the rising threats of online fraud, Canara Bank, a prominent player in the public sector banking space, is set to inaugurate a dedicated cyber-security wing on April 1. The bank aims to intensify its commitment to safeguarding customers from falling prey to cybercriminals.
Cybersecurity Wing: A Guardian Against Online Frauds
Led by a seasoned general manager, the newly established cyber-security wing will operate in real-time, closely monitoring digital transactions. Its primary role is to promptly detect and raise alerts if any fraudulent activity is detected, ensuring the security of customer accounts. The initiative reflects the bank’s proactive stance in staying ahead of potential cyber threats.
Unfortunate Incident Highlights Need for Vigilance
In a recent incident, a 25-year-old software engineer, identified as Sanjay, faced a harrowing experience involving online fraud. While seeking escort services online, he fell victim to a fraudster who exploited him for Rs 48,500. Sanjay’s case underscores the critical importance of robust cybersecurity measures to protect users from falling victim to digital scams.
Pune Techie Loses Over Rs 20 Lakh in Online Scam
Avinash Krishnanakutti Kunnubaram, a 40-year-old techie from Pune, fell prey to an online task-based scam, resulting in a substantial loss of Rs 20.32 lakh. Sadly, Avinash’s story is not isolated, as numerous individuals have reported similar incidents in recent months. These scams often lure victims with promises of quick gains, only to trap them in a complex web of digital deceit.
Cryptocurrency Insights: Navigating the Crypto Universe
As the financial landscape evolves, the Crypto Academy, a collaborative effort by ET Markets and Mudrex, seeks to unravel the complexities of the crypto universe. In its inaugural episode, seasoned experts Ajeet Khurana and Edul Patel discuss the dynamic world of cryptocurrencies, Bitcoin, and investment strategies during bull runs.
Ajeet Khurana’s Crypto Journey
Ajeet Khurana, with 53 years of wisdom, traces his journey into the crypto realm back to 2016. Initially skeptical of the financial merits of cryptocurrencies, Ajeet’s perception changed with the emergence of blockchain technology. Recognizing its transformative potential, he embraced the crypto world, marking the beginning of his crypto journey.
Edul Patel’s Banking Background Shapes Crypto Perspective
Edul Patel, coming from a banking background, developed an interest in crypto in 2012. However, it wasn’t until 2017 that he delved deeper into Bitcoin discussions, viewing it as a potential disruptor in the aftermath of the 2008 financial crisis. His journey led to the creation of Mudrex, a platform for crypto investments.
Maturing Crypto Landscapes: Valuation Challenges
In the maturing crypto landscape, Ajeet emphasizes the need for a clear understanding of crypto valuation, drawing parallels with the evolution of equity valuation. Edul adds depth to the discussion by highlighting the paradigm shift required to evaluate virtual assets compared to physical assets, a process that will take time.
Thanks & Regards – Seema Kanojiya