Oct-16Sec Flashcards
Oct-16Sec -Index
6.1. Comprehensive Convention on International
Terrorism (CCIT)
6.2. Bitcoins Seized
6.3. Airborne Early Warning and Control System
6.4. SIT Combing P-Notes Date to Curb Black Money
6.5. Cyber Security in Banks: Debit Card Data Theft
Issue
6.6. Cyber Security Platform to Fund Startups
6.7. Range of Brahmos to be Doubled
6.8. India-China Joint Army Exercise
6.1. COMPREHENSIVE CONVENTION ON INTERNATIONAL TERRORISM (CCIT)
Why in news?
In her speech at the United Nations General Assembly (UNGA), Indian Foreign Minister appealed the global community for early adoption of the Comprehensive Convention on International Terrorism (CCIT). What is it?
CCIT, drafted by India in 1996, is a proposed treaty which provides a comprehensive legal framework against teerrorism.
It includes following major objectives:
To have a universal definition of terrorism that all 193-members of the UNGA will adopt into their own criminal law
To ban all terror groups and shut down terror camps
To prosecute all terrorists under special laws
To make cross-border terrorism an extraditable offence worldwide. Hurdles in adoption of CCIT
It is yet to be adopted by the UN General Assembly. The challenges in adopting a comprehensive policy against terrorism include:
Difference in threat perception- Even though India has been affected from terrorism since long, the developed world took cognisance of the threat only after 9/11.
Difference in states capability to combat terrorism, issues related to ensuring human rights and rule of law have also added to the complexity in adopting a comprehensive policy. Impact of CCIT
Although consensus eludes towards adoption of the terrorism convention, but discussions have yielded the following:
International Convention for the Suppression of Terrorist Bombings, adopted on 15 December 1997;
International Convention for the Suppression of the Financing of Terrorism, adopted on 9 December 1999; and
International Convention for the Suppression of Acts of Nuclear Terrorism, adopted on 13 April 2005.
United Nations Global Counter-Terrorism Strategy was adopted in 2006.
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6.2. BITCOINS SEIZED
Why in news? The Narcotics Control Bureau (NCB) is set to freeze about 500 Bitcoins in the accounts of traffickers. Why is it important? It is the first ever seizure of the virtual, unregulated currency in a criminal probe in the country. While criminal probe agencies have seized a variety of assets like cash and immovable assets in their respective investigations all these years, Bitcoins have never been frozen as part of the tainted assets seizure.
Background It involves trafficking of drugs and narcotic supplements over the cryptic form of internet called ‘Darknet’ using the illegal payment method of Bitcoins to escape from detection by investigative agencies. ‘Darknet’ refers to a secret internet network which can only be accessed with specific software, configurations and authorization. It is difficult to track using usual communications protocols and ports.
Box–About Bitcoins
Bitcoin is a form of digital currency, created and held electronically. No one controls it.
Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
6.3. AIRBORNE EARLY WARNING AND CONTROL SYSTEM
Why in News? DRDO developed a multisensor airborne early warning and control (AEW&C) system on a carrier jet, providing an airborne surveillance system in collaboration with CAB (Centre for Airborne Systems) for the Indian Air Force. Why is it important? It is the first native AEW system developed by DRDO and CAB. It was completely developed and built using the native technology platform, EMB-145. Utility of AEW&C for Indian Air Force
Detection and tracking, identification and classification of threats through its ‘sharp-seeing and listening’ radar that can look out deep across enemy territory. Guidance and interception control, Display of air situation picture and multisensor data integration.
AEW&C system platform details
The jet platform selected for system is modified version of the Embraer EMB-145 from Brazil.
It has additional power unit to power onboard mission systems. It can also support the in-flight re-fuelling system for extended endurance of the mission.
It has 240° coverage through two radiating planar arrays which are fixed in back-to-back arrangement in an active antenna array unit (AAAU).
The AAAU is designed to fit 10x2 antenna array panels, 160 Transmit Receive Multi Modules (TRMM) and all the supporting devices, including power supply units and control units.
Each TRMM is made of eight compactly fused transmit receive modules to ensure high density installation of 160 TRMMs.
Box–About AEW&C
Airborne early warning and control (AEW&C) aircraft are airborne radar systems designed to detect and track aircraft, missiles, ships and vehicles and provide command and control to direct friendly forces.
6.4. SIT COMBING P-NOTES DATE TO CURB BLACK MONEY
Why in news? The special investigation team (SIT) on black money asked the Securities and Exchange Board of India (Sebi) to furnish the details including complete transfer trail, beneficiary owners of all those investing through participatory notes (P-Notes). What are P-Notes?
P-Notes or Participatory Notes are Overseas Derivative Instruments that have Indian stocks as their underlying assets.
They allow foreign investors to buy stocks listed on Indian exchanges without being registered.
The instrument gained popularity as FIIs, to avoid the formalities of registering and to remain anonymous, started betting on stocks through this route.
Government concerns
The primary reason why P-Notes are worrying is because of the anonymous nature of the instrument as these investors could be beyond the reach of Indian regulators.
Further, there is a view that it is being used in money laundering with wealthy Indians, like the promoters of companies, using it to bring back unaccounted funds and to manipulate their stock prices.
Why data combing it important? This is the first time the government-constituted body has sought such massive amount of data, which includes the list of beneficial owners and transfer trials of investors taking the P-Note route to invest in domestic equity and debt markets, to bring back unaccounted money. SIT suspects some links between the individuals linked to offshore companies floated by Panama law firm Mossack Fonseca. A major chunk of outstanding ODIs (offshore derivative instruments) invested in India – 31.31 per cent – are from Cayman Islands having a negligible population. Currently, the P-Note assets in the country are around Rs 2.1 lakh crore – 8.4 per cent of the total FPI assets, coming down from about 50% in 2007.
6.5. CYBER SECURITY IN BANKS: DEBIT CARD DATA THEFT ISSUE
Background
It was recently revealed that around 19 Indian Banks faced a series of data theft in last 6 months. It is the biggest debit card fraud in Indian history.
The Banks have recalled and blocked more than 32 lakh debit cards.
This has led to banking fraud of around Rs. 1.3 crores. The potential loss could be much more than this.
The probe by National Payments Corporation of India (NPCI), which has oversight over all the retail transactions, found a malware-induced security breach in the systems of Hitachi Payment Services, which provides ATMs, point of sale and other services in India.
Implications
The government and RBI are putting efforts to harness digital revolution to bring about socio-economic changes. For example,
steps towards increasing financial inclusion,
better targeting of subsidies through the direct benefit payments model,
improving economic efficiency by lowering transaction costs, and
moving toward a cashless economy so as to reduce the circulation of black money and curb tax evasion.
The fraud, thus, exposes the vulnerability of Indian retail financial structure.
It shakes the faith and confidence of the people in the financial structure.
If not tackled immediately with effective means this could be a huge setback for the government.
RBI’s efforts to address the issue cyber crimes
In June 2016, RBI issued instructions on a cyber security framework in banks, asking them to put in place a board-approved cyber security policy, prepare a cyber crisis management plan, and make arrangement for continuous surveillance.
The circular also asked banks to share unusual cyber security incidents with RBI.
RBI has set up an expert panel on IT Examination and Cyber Security to provide assistance in banks’ cyber security initiatives
It also proposes to cover, by 2017-18, all banks under a detailed IT examination programme launched recently.
Other measures needed
It is the duty of the banks to integrate inter-generational legacy systems across branches, ATMs and online banking networks into one seamless and secure whole.
There is a need to put cyber security at top priority of banks. Top managements at lenders should reappraise their cyber culture, heed warnings and alerts promptly, and address shortcomings.
Concluding Remarks
Going Digital is an opportunity and also a threat, but it is still necessary to adopt it because of the convenience it brings. But we need better fraud management and security in place.
6.6. CYBER SECURITY PLATFORM TO FUND STARTUPS
Why in news
Indian government and NASSCOM have come together to create a platform for cyber security products and
solution companies. It aims to create a special fund for cyber security start-ups. It will be the first platform for homegrown cyber security companies. Significance
To build local solutions to tackle internet security challenges.
To promote indigenous expertise in the field
To help local firms get a larger share of the country’s digital security technology budget.
Box–Data Security Council of India (DSCI) part of industry body NASSCOM will collaborate with the Department of Electronics and Information Technology (DeITY) and the Technology Development Board of the Department of Science and Technology for the platform and funds.
6.7. RANGE OF BRAHMOS TO BE DOUBLED
Why in News?
India and Russia have approved the proposal to double the range of BrahMos, world’s first supersonic missile. The range of the missile was limited to 290km
What is it?
Russia and India teamed up in 1998 to develop this missile on the lines of Russia Yakont anti-ship missile.
For ranges to be higher than 300km, the country must be a member of Missile Technology Control Regime (MTCR).
Following India’s accession to MTCR, the range of the missile will be increased to 600 km.
Extending the range of the missile will enhance its stand-off capability and its operational radius. With extended range, speed and accuracy, Brahmos is a force to rely on.
6.8. INDIA-CHINA JOINT ARMY EXERCISE
The Indian and Chinese armies held the second joint exercise “Sino-India Cooperation 2016” as part of the ongoing initiative to enhance interaction and cooperation between India and China.
It was sequel to the first exercise held on February 6, 2016 under the provisions of Border Defense Cooperation Agreement, 2013.
The joint exercise, compliments the hand in hand series of the India-China joint exercises and the effort of both the nations to enhance cooperation and maintain peace and tranquility along the border areas of India and China.
The exercise increases the confidence of the border population in case of natural calamity and also increased the level of trust and cooperation between the two border guarding forces along the LAC in Eastern Ladakh.
