Cyber attackers are getting smarter with time and so are their way of attacking. But, with the right measures and preventive measures an organization can key these attacks at bay by implementing the right set of controls. Financial institutions handling stock exchanges, loan settlements or banks are one of the most vulnerable honeypots for attackers. That’s why, RBI along with various other financial institutions has set some regulatory standards, quintessential for the accredited financial bodies to follow. With 10+ years of experience and Cert-In empanelment, you can rest your shoulders as our experts delve into the nitty gritty of the requirements and bring out the best outcomes on the table. As an external auditor for regulatory compliance, we take one step further to guide our clients on their areas of improvement and how they can prevent loopholes for further audits.
The Information System Audit per RBI is a must regulatory requirement for NBFCs to establish a governance structure and standardized framework for information and cyber security to guarantee that all their security concerns are regularly handled.
IRDAI oversees and controls the insurance industry in India in order to protect the interests of policyholders and promote the expansion of insurance throughout the nation.
The Cyber Security and Resilience Framework Audit governed by SEBI, sets a directive for the stock exchanges and depositories to robust their cyber security practices and enhance their IT governance to prevent essential data breaches.
A computer emergency response team security audit is one that identifies, protects against, detects, and responds to cybersecurity threats within a company.
According to the RBI’s data localization requirements, specialised financial bodies are required to submit a System Audit Report (SAR) as proof that they have localised the customer information of Indian citizens back in their Indian data centres.
According to the RBI’s data localization requirements, specialised financial bodies are required to submit a System Audit Report (SAR) as proof that they have localised the customer information of Indian citizens back in their Indian data centres.
The RBI mandates all NBFCs to undergo an Information Systems (IS) Audit, ensuring compliance with cybersecurity norms. This audit helps identify vulnerabilities, safeguard customer data, and strengthen IT governance, reducing risks of breaches and ensuring regulatory adherence under RBI’s master directions for the financial sector.
IRDAI mandates insurers to undergo periodic compliance audits to ensure adherence to regulatory, IT security, and data protection standards. This audit assesses the organization’s IT infrastructure, governance, and risk management, ensuring data integrity, business continuity, and regulatory compliance to protect policyholders and maintain trust in the insurance ecosystem.
SEBI mandates market intermediaries to perform compliance audits, focusing on IT systems, cybersecurity, and regulatory adherence. This audit ensures secure data handling, risk management, and governance, aligning with SEBI’s cybersecurity framework. It protects investors’ interests, strengthens digital resilience, and ensures intermediaries comply with regulatory and operational best practices.
CERT-In empanelled security audits are mandatory for organizations handling sensitive data, ensuring adherence to national cybersecurity guidelines. The audit assesses networks, applications, and systems for vulnerabilities, helping organizations mitigate risks, prevent breaches, and comply with CERT-In directives. It enhances overall cyber resilience and safeguards critical information infrastructure.
SAR (Security Audit Report) Compliance Audit ensures organizations meet regulatory cybersecurity standards by identifying vulnerabilities, assessing IT controls, and validating security measures. Often required by regulators like RBI, IRDAI, and SEBI, SAR audits help mitigate risks, ensure data protection, and maintain compliance with national and industry-specific security frameworks.
India’s Digital Personal Data Protection (DPDP) Act 2023 governs the processing of digital personal data, ensuring privacy, transparency, and accountability. It mandates lawful data collection, consent-based processing, data minimization, and secure storage. Organizations must comply to avoid penalties, ensuring data subjects’ rights are protected and regulatory obligations are fulfilled.
CICRA (Cyber Incident Classification and Response Application) is a framework/tool used for categorizing and managing cyber incidents systematically. It helps organizations classify cyber threats, prioritize responses, and streamline incident management to reduce damage, ensure timely resolution, and comply with cybersecurity regulations and best practices.
ITGC refers to fundamental controls over IT systems ensuring data integrity, security, and operational reliability. These include access controls, change management, system development, and backup processes. ITGCs provide the foundation for effective application controls and are critical for audits, compliance, and risk management in organizations.
A Digital Lending Application Audit evaluates the security, compliance, and operational integrity of lending platforms. It assesses data privacy, transaction accuracy, fraud prevention, and regulatory adherence. This audit ensures the application protects user information, mitigates risks, and complies with financial and cybersecurity standards for trustworthy digital lending services
NCA, SAMA, and PDPL focus on safeguarding national security, financial institutions, and personal data. Here are the key compliance objectives:
National Cybersecurity Authority (NCA): Establishes cybersecurity governance, defense mechanisms, and resilience strategies to protect critical infrastructure and government entities.
Saudi Arabian Monetary Authority (SAMA): Implements cybersecurity controls for financial institutions, ensuring secure banking operations and customer data protection.
Personal Data Protection Law (PDPL): Regulates the processing, storage, and sharing of personal data, aligning with global standards like GDPR.
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