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.  

  Anil Puri CMD, APS group A thought leader and an action catalyzer rolled into one – Anil Puri is a rare combination of a visionary, and one who has mastered the art of strategic and tactical thinking to the core. He has been using this combination to seed new ideas and to lead them to their implementation on-ground. This has been a consistent feature of his career. He has rich experience of approximately 35 years in corporate in diverse domains & from functional managerial level to the apex as chairman of a corporate group. To him, The loss prevention (LP) has always occupied central place when planning the security protocols for the shopping malls, warehouses, large shopping complexes, standalone retail stores and manufacturing plants. He has been keenly watching the developments in the loss prevention techniques emerging in this domain. Old adage loss prevention techniques have stood the test of times but have been breached, losses inflicted and profitability hit. However, emerging innovative technologies have revolutionized the entire perspective of loss prevention. He contributes extensively in framework of security protocols of loss prevention with his ops team before deployment of security personnel at high end shopping malls. Here he shares his thoughts on new landscape which has gradually been shaping in favor of the retailers. Let us see what future holds for loss prevention. Here he propagates the enhanced usage of AI in loss prevention. Introduction Retail shrinkage is a multi-billion-dollar, multi-layered monster that affects organizations throughout the retail industry. The problem spans beyond the physical store and has roots throughout the entire supply chain. Government-imposed public health protocols, social restrictions and lockdowns that have arisen because of the COVID-19 global pandemic have changed the way people do things the world over. The impacts on the retail sector have been significant, translating it into levels of adversity unlike anything business has ever before faced. For retail loss prevention teams charged with ensuring the safety and security of the business’ employees, customers and product, the shifts and accelerations in consumer behavior mean that they have to rethink & revisit their strategies. They have had to leverage their creativity and innovation in order to pivot and respond to a whole new set of challenges. Globally many retail loss prevention forums have organized events to help address the evolving concerns of today’s loss prevention professionals and discuss the ways by which leaders within the industry are proactively producing effective solutions to protect their businesses. This has provided virtual attendees with thought leadership, critical insights into best practices with respect to day-to-day retail operations and an incredible opportunity to network with industry colleagues concerning the most pressing issues their industry is facing today. How to disrupt the organized crime? The scourge of organized retail crime (ORC) continues to cast a pall over retail operations, with the number of incidents escalating since the start of the pandemic. Given the increasingly sophisticated means by which these groups, who often travel from region to region, are striking neighborhoods and cities indiscriminately, the role of loss prevention teams in curbing this very serious threat is critical. It is time to unpack this complicated issue for retailers and discuss some of the ways in which loss prevention teams can enhance the protection of their organizations. As impacts of the pandemic continue to influence the way today’s consumer shops and accelerates online activity, retailers are faced with more adversity than ever before in providing a safe, secure and seamless environment in which to serve their customers. To better understand how these changes in consumer behavior are impacting retailers’ efforts to ensure a best-in-class experience during these difficult times, and to share insights concerning some of the incredible pivots being made by loss prevention teams in order to support their organization’s operations and service. Potential Ramifications The sessions organized by loss prevention forums focused on the potential ramifications of ORC to retail operations, the trends that are related to the activities of these crime groups, as well as some of the proactive steps that can be taken by loss prevention teams in order to deal with the risk like: (a) Retailers should join any network that is available to them. (b) If there aren’t any, they should create one for themselves (c) Be proactive in hosting opportunities to get together with law enforcement partners, fellow loss prevention officers, community associations, city politicians and crown attorneys to hold ongoing dialogue. Creating these communities makes it easier for everyone impacted by these crimes to identify associated trends and more difficult for ORC groups to operate as efficiently as they’d like to. Developing a Threat Awareness Another threat wreaking havoc on retail operations is found within the digital world. Though perpetrated by living, breathing human beings, the veiled activities of cybercriminals allow them to conduct their misdeeds behind a screen and provide them both with relative anonymity and the digital tools they need to undo a business. It is important to understand the ways in which a cyber threat and incident can occur as well as the potential ramifications to the retail bottom line and the steps that are required of organizations to properly deal with the issue. What is needed is – Developing the threat awareness, understanding of relevant prevention information and adhering to best digital practices will be key. Too often, the cyber-attacks go unreported. As a result, the attackers are emboldened knowing that law enforcement is unaware of the scope of the problem and that the incidents likely won’t be investigated. It’s imperative that any and all cyber attacks be reported to the police. In tandem with the incident reporting to law enforcement, retailers must follow the procedures that have been outlined within their company’s cyber incident response plan. If a plan has not been developed, then it should become a quick priority. That’s where retailers and law enforcement will be able to make a difference, making it harder for cybercriminals to operate, thereby reducing the level of victimization….