MERI-Journal of Management & IT

Luv Aggarwal ¹

Affiliations
1 Netaji Subhas Institute of Technology, Delhi University, IN

Abstract

Digital economy is a worldwide network of economic activities facilitated by information and communication technologies. The true brunt of demonetisation might hit the masses by the end of the current fiscal year. Cyber history of the financial system casts a gloomy shadow on the security assurances made by the government and other security providers. 3.2 million debit cards were compromised in October, 2016. Digital wallets in India lack hardware-based security layer. In NRI, India was ranked 91 out of 139 countries. Digital currencies provide greater anonymity than credit cards. However, digital currencies are a disruptive technology. Liberty Reserve( now defunct) was the "coin of the realm". India appointed its first chief information security officer (CISO). Transactions are secured with 128 bit SSL encryption and two factor authentication. A comprehensive approach to physical, technical, and administrative security controls is the need of the hour. The creation of a National Cyber Security Agency (NCSA) would improve India's .resilience and defense systems.

Keywords

Digital Economy, Information and Communication Technologies(ICTs), Phishing, Trojan, CERT-In, Suckfly, Danti, Section 43A, Swish, Bitcoin.

Full Text