Fraud Prevention Through Secure Identity & Transaction...
Transcript of Fraud Prevention Through Secure Identity & Transaction...
Fraud Prevention Through Secure Identity & Transaction Management
Presentation by Idris Rassawala, AVP-Enterprise Security Solutions
eMudhra Ltd. 05-02-2016
www.emudhra.com
“There is nothing so useless as doing efficiently that which should not be done at
all”
- Peter Drucker
“So, Why print, sign, scan and send paper when you can Digitally Sign?”
www.emudhra.com
50 More than 50 large customers in Banking, and Government
900mn National ID holders of India can electronically sign using our solution
Licensed Certification Authority in India and Mauritius
3mn Digital signature issuance in India
7 Years of excellence in Digital Security, Authentication and Analytics
Patents and several awards
Introducing eMudhra
• Largest Public Sector and
Private Sector Banks in India use eMudhra’s solutions
• Offices in 14 cities in India with International presence Dubai and Mauritius
• 3 Tier Data Centre in Bangalore with Disaster Recovery Centre in Salem, Tamil Nadu
• Gartner recognized for Text Analytics
• Asia PKI Innovation Winner and e-Asia Award Winner from United Nations body for Bridging Digital Divide
www.emudhra.com
IRDA (Regulator)
Kotak Life Insurance
Birla Sun Life Insurance
United India Insurance
Bajaj Allianz
Axis Securities
NSDL
CDSL
UTI TSL
VISA
Edelweiss
Indiabulls
Motilal Oswal
Angel Broking
Barclays
Deutsche Bank
Royal Bank of Scotland
State Bank of India
ICICI Bank
Axis Bank
Punjab National Bank
Kotak Mahindra Bank
IndusInd Bank
IDBI Bank
Corporation Bank
Central Bank of India
Canara Bank
IDFC Bank
Banking
INDIA Dept of Income Tax Civil Aviation DGS&D ONGC (Oil and Gas) BHEL STPI State Sales Tax Depts State Treasury Depts State Revenue Depts Digital Locker, Govt of India Andhra Pradesh IT MAURITIUS Public Procurement Office
Infosys
TCS
Wipro
IBM
EMC2
Cisco
Amazon
Caterpillar
Ashok Leyland
Idea Cellular
Renault Nissan
TeamLease
Via.com
ITZ Cash
Insurance, NBFC Government Others
Partial Client List
Global Adoption of Digital Signatures
www.emudhra.com
• Globally, Digital Signatures and PKI have become critical components of a digital security infrastructure
• India • Key Objective is “Going Digital” and “Going Paperless”
• eMudhra was instrumental in helping Government launch
• e-Sign (electronic signature) – Any citizen can sign from anywhere, anytime using National ID
• Digital Locker - Citizens can securely store and share documents such as Transcripts, Identity Proofs, Bank Documents
• The aim is to transform services such as Pension, Subsidy Distribution, Online and Rural Banking, Insurance etc etc
Global Adoption of Digital Signatures
www.emudhra.com
• India (contd..)
• Mandate from Government/Regulators to make usage of digital signatures in applications
• Usage areas include:
Income Tax, Commercial Taxes, Revenue
Customs, Foreign Trade, Registrar of Companies
G2G and G2C/C2G Citizen Services
eProcurement including tendering and auctions
Banking and Treasury operations
Education and Manufacturing
CASE STUDY : Fraud Prevention – Large Private Bank
www.emudhra.com
Problem Statement • Thousands of Corporate customers using the Bank’s Internet Banking facility to make online payments and fund transfers •Thousands of transactions daily ranging from Thousands to Tens of crores in value; need to ensure infallible security and threat mitigation including non-repudiating evidence for large value transactions
Digital Signature based Authentication • Corporate Internet Banking application enabled with digital signature based authentication • Increased security with authenticity of users and Digital Signature toevidence to establish non-repudiating evidence
Benefits • Enhanced security for customer’s Bank accounts and online activity •Legally valid digital signature to protect Bank’s interest in the event of litigation. •Reduction of overall risk to customers and Bank through implementation of the best in class transaction authentication mechanism.
CASE STUDY : Going Paperless – Company Administration
www.emudhra.com
Problem Statement • Registered partnerships, Private Limited and Public Limited companies make periodic filings with Registrar of Companies •Existing methodology results in voluminous paper flow which need to be stored, archived
Digital Signature enabled Workflow on PDF • Customized PDF forms were created with the ability to populate data and sign digitally • Auto validation of forms along with Digital Signatures was enabled to ensure authenticity of document and signer
Benefits •Significantly reduce time taken for Company Incorporation • Error free filing with complete legal validity •LIVE Information Record of any company available publicly
Global Adoption of Digital Signatures
www.emudhra.com
• China
• Over 100mn Digital Signatures issued
• Online Banking runs on the PKI infrastructure
• Huge thrust by Government to go Paperless
• Singapore
• Government has been a lead mover utilizing PKI technology for use with public’s access to Central Provident Fund
• E-Procurement portal and Integrated Land Information Service uses Digital signatures
• Malaysia
• Implemented e-Court system using Digital Signatures
Why Digital Signatures?
www.emudhra.com
• The Public Key Infrastructure Framework (PKI) using Digital Signatures using strongest encryption measures ensures
• Privacy and Confidentiality
• Authenticity – Ensuring identity and authorization
• Data Integrity – Any tampering of data is immediately known
• Non-Repudiation – In a court of law, an individual cannot deny the transaction
• As India goes digital, the need for strong information security practices is paramount to reduce fraud in critical areas like Banking, G2C services
Evolution of Digital Signatures
www.emudhra.com
• UNCITRAL (a United Nations body) has provided a model law for implementation of PKI
• Respective Countries have adopted model law into Information Technology Acts including several countries in Africa
India through its Information Technology Act 2000 (Amended in 2008) has adopted Public Key
Infrastructure and Digital Signatures as a legally valid signature in lieu of wet/physical signatures*
* The Information Technology Act excludes certain types of instruments from digital signing. Refer Information Technology Act for more details on these specific instruments.