Day: August 25, 2021

By Vikas Bhonsle, CEO, Crayon Software Experts India Cryptocurrency is currently one of the most trending financial tools or currencies, grabbing attention across the globe. Bitcoin, Ethereum, Cardano, Dogecoin are some of the most popular cryptocurrencies we have heard or read about in the media. If predictions are to be believed, then these cryptocurrencies can impact global finance in the coming times. However, the rise and increasing popularity of cryptos also increase the added risk of cybercrimes that need speculation. But first, let’s understand more about cryptocurrencies. It is an electronic form of a digital asset or currency that operates as a medium of exchange like any other legacy currency. However, it’s an encrypted form of electronic payment that uses cryptography for safe transactions. Cryptos are decentralized digital assets that allow individuals or institutions to make transactions without any dependency on legacy banking institutions and governments. This very fact alone represents both the boon and bane of this technology. The absence of any regulators or legal structures is also free ground for cybercriminals to romp. Cryptocurrency is already the most preferred medium of payment in ransomware attacks. Cybercriminals hide their true identities while they make ransom demands in digital currencies. When making an exchange, they can easily convert cryptocurrencies into traditional forms without ever being discovered. Cybercriminals can hack into cryptocurrency trading platforms and redirect the funds. They can attack any business and demand ransom in digital currencies as this form of cybercrime is outside the legal grid, and no evidence leads back to the perpetrators. With cryptocurrencies spreading across the business world, cybercrime has become a real threat. Cryptocurrencies have also evolved as an excellent money laundering channel. Businesses or even individuals who make exchanges using cryptocurrencies are thereby potential cyber-attack targets. The following cybersecurity risks are to be looked out for: Phishing: In a phishing attack, trading platforms are targeted with malicious emails or links with the primary goal aimed at stealing user’s credentials that scammers can use to ask for profit or ransom. Hacked trading platforms: Here, cybercriminals compromise the trading platforms by stealing funds from the users. Compromised registration forms: The registered data by the user can be compromised, and hackers can or will then sell it in the illegal market for profit. Third-party applications: An excellent way for cybercriminals to breach and access user data and target further attacks. Malware: cryptocurrency-related malware enters the mining machines, steals the infected computer’s mining resources, along with the cryptocurrencies from online wallets. Thus, it is primarily essential that the security measures of any crypto transaction platform are full-proof and have a multi-pronged approach to cybersecurity solutions. Until and unless regulations and strict monitoring come in place, caution and instinct can go a long way in keeping our crypto transactions safe.  

The International Professional Security Association (IPSA) is determined to support and be available for all the front-line members. With the launch of its new app and the free membership offer, IPSA is now taking a huge step towards expanding its membership in India. IPSA has announced the appointment of Jitendra Shukla CCSMS, CCPS AA. IPSA as the IPSA Alliance Ambassador for India. Along with a post-nominal, the role fetches many responsibilities and important undertakings which are in sync with IPSA’s core missions and values. The IPSA AA will be expected to raise the importance and criticality of the front-line teams with the clients, end users and wider industry. One of the goals to be achieved by the role would be to encourage the ongoing professionalism of the sector in India through the membership of a professional body like IPSA and training enhancements. Apart from working closely with the IPSA Chair and CE, the AA will also provide feedback on local market trends or regional specifics that need to be captured within the IPSA organization. They will monitor international situations related to the AA region and IPSA. Jitendra Shukla IPSA Alliance Ambassador for India “I am extremely honoured by the role bestowed on me by IPSA and I would like to thank the Chair and CE for that. As India AA IPSA I will strive to get us the due recognition as a professional body for the security industry. IPSA should be a common platform or a single voice for improving the service standards and infrastructure required for us to deliver world class services and at the same time enhance the lifestyle of the security practitioners. IPSA will be able to deliver this by imparting world class training and certification. I am counting on my colleagues who are the leaders in the security industry to help IPSA achieve the goals” With the introduction of an AA, IPSA’s vision is to represent all front-line personnel and companies, and promote diversity, inclusion, training, mentoring and career development. By providing representation and working closely with the sety companies to raise the standards and encourage professionalism, IPSA aims to give ‘One Voice’ to the private security industry. Simon Pears, Chairman of IPSA said, “IPSA continues to gather strength and represent our frontline membership. India is part of this growth and continues on the journey to raise the professionalism of the sector. Jitendra Shukla has a wealth of industry experience and understands the market and growth opportunities and I am proud that he has agreed to be the IPSA Ambassador for India and be part of the exciting journey ahead.” Jitendra’s experience and passion for the industry makes him the perfect candidate for the role. He specializes in corporate security management which entails staffing and training, business analytics, operations, vendor management, emergency protocols and disaster management. Prior to working within the private security sector Jitendra was a member of the Indian Air Force and is a trained commando. He has extensive knowledge of security regulations and is instrumental in ensuring the alignment of security solutions with the local regulations. He has built a network of key contacts within security and other industries. With his connections and expertise, Jitendra will be playing a pivotal role in empowering the front-line security teams of India. “I am extremely honoured by the role bestowed on me by IPSA and I would like to thank the Chair and CE for that. As India AA IPSA I will strive to get us the due recognition as a professional body for the security industry. IPSA should be a common platform or a single voice for improving the service standards and infrastructure required for us to deliver world class services and at the same time enhance the lifestyle of the security practitioners. IPSA will be able to deliver this by imparting world class training and certification. I am counting on my colleagues who are the leaders in the security industry to help IPSA achieve the goals,” said Jitendra. Simon Pears Chairman of IPSA “IPSA continues to gather strength and represent our front-line membership. India is part of this growth and continues on the journey to raise the professionalism of the sector. Jitendra Shukla has a wealth of industry experience and understands the market and growth opportunities and I am proud that he has agreed to be the IPSA Ambassador for India and be part of the exciting journey ahead” The International Professional Security Association (IPSA) is a membership body for individuals and companies working in security and associated roles. The Association was formed more than 60 years ago to ensure professionalism in the management of security operations. IPSA is an established and recognised worldwide professional organization and provides, in accordance with growing demand, a specialised unrivalled service to industry/ commerce. There are no geographical boundaries in operation and the highest technical standards are stringently applied in all our dealings. The Association operates within the framework of fourteen regions which includes many overseas countries.