Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Implement Security Protocols To Protect Payments From Cyber Frauds: DGFT To Exporters

SPF, DKIM and DMARC are protocols for standard email signatures which meet various safety issues, and all three must be implemented in order to ensure the best possible deliverability

Photo Credit :

1601357640_6pZUse_1.PNG

Making India Aarogya in Cybersecurity

The trade department on Monday asked exporters to implement security protocols and follow better password practices in email communications to protect their payments from cyber frauds as authorities 'cannot do much' to reverse the transactions.

In a trade advisory, the Directorate General of Foreign Trade (DGFT) said Ministry of External Affairs has informed that email spoofing/phishing cyber frauds are causing increased bilateral trade disputes.

Though this is registered as a cybercrime in the respective jurisdictions of the country, the 'authorities cannot do much to reverse the transaction', it said.

The victims end up being Indian exporters who having supplied the goods 'neither have the goods in their possession nor have received the payment', the advisory said.

After examining the matter, DGFT said such problems can be largely resolved by implementing security protocols such as Sender Policy Framework (SPF), Domain Keys Identified Mail (DKIM) and Domain-based Message Authentication, Reporting and Conformance (DMARC).

SPF, DKIM and DMARC are protocols for standard email signatures which meet various safety issues, and all three must be implemented in order to ensure the best possible deliverability, DGFT said.

All the three prove that the sender is legitimate, that their identity has not been compromised and that they are not sending email on behalf of someone else.

'It is also suggested that better password practices be followed on both the sender's and the receiver's email IDs and to avoid this completely, exporters may like to confirm bank details by another channel such as a secure voice line,' it added.

The DGFT asked export promotion councils and exporters to take all precautionary measures to protect their payments from cyber frauds. 

(PTI)


Tags assigned to this article:
Cyber Frauds dgft bilateral trade disputes