Markets regulator Sebi is in the process of setting up a cybersecurity fusion centre, a move aimed at detecting cyber threats faster and resolve such incidents efficiently and effectively.
In its annual report for 2019-20, Sebi noted that cyber attacks and threats attempt to compromise the confidentiality, integrity and availability of the computer systems, networks and databases in the markets ecosystem.
Establishing a cybersecurity fusion centre or a cyber lab is part of Sebi's three-tier structure for monitoring cybersecurity-related events in the securities markets and taking actions as deemed necessary in the interest of protection of the securities market.The three-tier structure would strengthen the cybersecurity preparedness or resilience of the entire securities market ecosystem.Under the tier-1, high-powered steering committee on cybersecurity chaired by a whole-time member of Sebi has been set up and a cybersecurity fusion centre would be established under the tier-2, the regulator said.
In the tier-3, division of technology and cybersecurity on Sebi would coordinate with the steering committee, cyber security lab security and operations centres at the respective market infrastructure institutions (MIIs).