As a precursor to the First G20 Finance Ministers' and Central Bank Governors' meeting under the India Presidency in Bengaluru from February 23 to 25, the Reserve Bank of India organised today a domestic side event on cyber security.<br />''<br />''Around 200 officials of various financial regulators, banks, NBFCs and the Karnataka state government officials are participating in the day-long event in Bengaluru.<br />''<br />''Delivering the keynote address, the Executive Director of the Reserve Bank of India, Rohit Jain said that the Global Risk Report places cyber-crime as the eighth biggest financial threat among all the frauds.<br />''<br />''As the digital payment footprints grow, the threat of cyber crimes have increased.<br />''<br />''The Reserve Bank of India has taken a number of measures to shield those involved in digital transactions. The federal bank has issued framework guidelines to the banks to build operational resilience to prevent hacking.<br />''<br />''A mechanism is built for threat intelligence sharing, apart from the adoption of payment frauds registry, data piracy regulation, advanced technology, firewall, fishing mail and sensitive data analysis.<br />''<br />''Rohit Jain also added that guidelines are being formulated for the use of advanced technologies like cloud computing, Artificial Intelligence and Internet of Things.<br />