Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the e-panel discussions:
- Mr. Sameer Ratolikar, Executive Vice President & CISO – Chief Information Security Officer, HDFC Bank
- Mr. Hemal Shah, Technical Product Manager, Mastercard
- Mr. Vikram Sareen, Chief Architect, Founder, CEO, Blue Bricks Pty Ltd.
- Mr. Sharad Goklani, Senior Vice President- Technology, Equitas Small Finance Bank
- Mr. Vikas R Panditrao, Advisor, Forum of Industry Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum
The FIAKS community was taken by surprise by a hypothetical scenario that could have unimaginable consequences. The scenario was –
If someone creates an identical mask copy of the CEO of the bank and comes in the bank wearing that mask, looking like the CEO, will any of the branch staff dare to stop this identical copy from entering the following –
- Currency chest
- Bank’s data center
- Customers’ data files
We have already seen that anyone can create objectionable videos to defame anyone. Not only that, people can mask themselves and pass off as someone else. The risks of such misuses are too many. So how can we de-risk this situation? And assuming that we can, to what extent can we de-risk it? The community member shared the below video on cloning
One of the experts of the community starts the discussion by explaining the security measures first. Biometric devices like fingerprints, iris scan and username/password with 2 Factors of Authentication are reasonably good controls even today. Of course, additional tougher layer like behavior-based authentication, user and entity analytics are also used as part of AI (Artificial Intelligence) ML (Machine Learning) use cases these days. So the question is – Will any of the branch staff of a bank dare to ask the clone of the CEO all this?
One of the leaders believes that if these masks become rampant, surely everyone will volunteer to go through these security measures. After all, the onus of security is on these CEOs. They can’t possibly put their banks at risks for the egos.
Most of the community agreed with that statement because ideally, that should be the case. But one of the members points out the harsh reality. He reminded us what happened when a security guard stopped a celebrity – Shah Rukh Khan regrets getting into brawl with Wankhede security guard. This may not be the best example or a good comparison but it is obvious that security guards at banks will not ask the CEO of the bank to go back home and come back with the real ID card.
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