Cooperative societies too not secure, get in crosshairs of cyber criminals

As digitisation has become the buzzword amid the Covid-19 pandemic, cooperative societies, particularly banks — whether big or small — are finding themselves in the crosshairs of cyber criminals. This has prompted stakeholders like the National Cooperative Development Corporation (NCDC) to step forward to ensure cyber security of digital assets of these institutions.

“There has been growing awareness of an organisation’s cyber preparedness and defence mechanisms. A large number of institutions wake up to this reality only after an incident. Considering the seriousness of issues connected with cyber-security and protecting the interests of members of various cooperative societies including banks, we have already constituted Cooperative Institutions Cybersecurity Advisory Forum (CICAF) way back in May 2019.