Why Read This
Outsourcing IT functions has many benefits, but when there are gaps in security and something goes wrong, it can have a serious impact on business. For example, in early 2013, authorities discovered a $45 million case of ATM fraud in which hackers breached the computer systems of two payment processing companies in India and compromised the account details of prepaid card account customers of two banks, one in the UAE and the other in Oman. This brazen attack has reopened questions about the risk of outsourcing critical services to India. CISOs need to re-engineer their organization's current outsourcing process to better ensure the security of data with service providers. This report will help security and risk professionals understand and address the flaws in current outsourcing models in order to more effectively manage Indian IT software service providers and improve security practices.