FICCI New Age Risks 2018

FICCI has recently released the seventh edition of FICCI-Pinkerton ‘India Risk Survey 2018 Report.’

Speaking on the occasion, Madhur Verma, Deputy Commissioner of Police, Delhi underscored the need for a regulatory mechanism to facilitate access of information for detection of crimes perpetrated through the misuse of social media. Mr. Verma said, “Businesses today, especially those engaged in international operations, have to contend with cybercrimes relating to transfer of money through fake e-mails, and this throws up a huge challenge for the enforcement agencies in detecting frauds.”

FICCI New Age Risks 2018

He added that the Delhi Police had created a separate cell for dealing with cybercrimes and was trying to create awareness on the nature and the enormity of crimes, especially those channelized through the social media, by reaching out to schools and the community at large.

Cmde Sujeet Samaddar, Senior Consultant (Industry), NITI Aayog categorised the new age risks as business, economic, legal and compliance, and technology risks. He underlined the need for predictability, credibility and stability of the legal and compliance regimes in order to make businesses viable and sustainable. The biggest risk to business is to take the business-as-usual approach rather than a transformational and disruptive one.

“The new digital environment and the multiplication of technological options have raised challenges and risks for which businesses should prepare themselves,” said Rahul Chaudhry, Chair, FICCI Homeland Security Committee.

Rohit Karnatak, Managing Director India, APAC & EMEA – Global Screening, Pinkerton said, “In today’s time, policy makers and business leaders can truly fulfil their role by timely anticipating risks. Pinkerton utilises a data driven comprehensive approach to corporate risk management, aiming to use tools like artificial intelligence to anticipate risks, their probability and their potential impact to businesses.”

According to Venkat Ramana, CoFounder & Director, Valuepitch E Technologies, “The crime rate in India can be lowered with the help of technology and training. Discovering previous antecedents along with real time situation monitoring without invading privacy is the challenge that needs to be addressed.”

Leave a Reply