As Millions Opt for E-Wallets, Better Security Need of the Hour
E-wallet firms must ensure that user credentials are tokenised, cryptographed and authenticated before the transaction takes place. "Since most of the user data is stored in cloud, the service providers should ensure that their servers are well-protected with standardised firewall and server security," said Amit Nath, Head of Asia Pacific at F-Secure, a European cyber security provider. "Educating people to use a technology, a good antivirus on mobile phones, Wi-Fi protection, anti-malware and banking protection on mobile devices gives an added protection to users," Nath said. "Since people with less digital experience like small-time street vendors are thronging e-wallets, providing proper training and frequent messages to customers to make them aware of fraud techniques is the need of the hour," added Ankush Johar, CEO, BugsBounty.com. To accelerate this process and keep up with the enormous volume of sophisticated threats, security architectures and processes must evolve and be automated," Ramamoorthy told IANS.
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