UOW refers to the University of Wollongong, a leading global university with a strong focus on education, research and partnerships, known for its international presence and diverse campuses including Australia, India, Dubai, Hong Kong and Malaysia. RBI refers to the Reserve Bank of India, which is responsible for regulating the Indian banking system, issuing currency and managing the financial stability of the country. In 2025, both the Reserve Bank of India (RBI) and the University of Wollongong (UOW) have introduced significant updates to their cybersecurity policies to address the growing number of cyber threats.
Reserve Bank of India (RBI):
- Enhanced Cybersecurity
Measures:
On February 7, 2025, RBI Governor Sanjay Malhotra highlighted the alarming
rise in digital payment frauds and underscored the necessity for banks and
Non-Banking Financial Companies (NBFCs) to bolster their cybersecurity
frameworks.
- Introduction of Secure Domains: To mitigate phishing and
domain spoofing risks, the RBI announced the launch of exclusive
domains—'bank.in' for banks and 'fin.in' for non-bank financial entities.
The Institute for Development and Research in Banking Technology (IDRBT)
will oversee these domains, with registrations commencing in April 2025.
- Regulatory Emphasis on Risk Management: The RBI has been actively
urging financial institutions to strengthen their risk management
protocols, particularly in light of increased digitization and associated
cyber threats.
University of Wollongong
(UOW):
- Cybersecurity Education
Initiatives:
UOW continues to offer advanced postgraduate courses in cybersecurity,
aiming to equip students with the skills necessary to combat global cyber
threats.
- Cyber Safety Policies: The university emphasizes the
collective responsibility of cyber safety, implementing rigorous
procedures and technologies to protect its systems and data.
- Policy on AI Tools: In March 2025, UOW advised
students to align their use of AI tools with the university's
cybersecurity and privacy guidelines to safeguard personal and
institutional data.
- These developments reflect a proactive
approach by both institutions to enhance cybersecurity resilience and
protect stakeholders from emerging digital threats.
Recent Cybersecurity
Initiatives by RBI and UOW
In 2025, both the Reserve Bank of
India (RBI) and the University of Wollongong (UOW) have introduced significant
cybersecurity initiatives to address the evolving digital landscape.
Reserve Bank of India (RBI):
- Exclusive Internet Domains: To combat phishing and enhance
online security, the RBI announced the introduction of exclusive
domains—'bank.in' for banks and 'fin.in' for non-bank financial entities.
The Institute for Development and Research in Banking Technology (IDRBT)
will oversee registrations, which began in April 2025.
- Mandatory Use of TRAI's MNRL
Technology:
The RBI has directed all banks to integrate the Telecom Regulatory
Authority of India's (TRAI) MNRL technology by March 31, 2025. This
measure aims to bolster fraud risk monitoring and prevent accounts from
being exploited as money mules in cyber frauds.
- Enhanced Cybersecurity
Oversight:
RBI Governor Sanjay Malhotra emphasized the need for banks to strengthen
their cybersecurity frameworks, particularly concerning third-party
service providers, to mitigate emerging digital threats
University of Wollongong (UOW):
- Cyber Academy Launch: UOW, in partnership with
Deloitte and TAFE NSW, introduced the Cyber Academy to prepare students
for careers in the rapidly growing cybersecurity sector. This initiative
combines accredited education with practical experience.
- Advanced Cybersecurity Programs: The university continues to
offer specialized courses, including the Master of Computer Science (Cyber
Security), designed to equip students with advanced skills to address
global cyber threats.
- Implementation of New Cloud
Controls:
Following a security breach in December 2023, UOW implemented enhanced
controls on its cloud-based systems to strengthen data protection and
prevent future incidents.
These initiatives reflect a proactive approach by both institutions to enhance cybersecurity resilience and protect stakeholders from emerging digital threats.
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