Page 33 - Banking Finance November 2020

ARTICLE

Few common features of the Trojan Malware: victim's device. Therefore, think twice before you
Y taking screenshots download anything or even plug into your device.
Y recording audio Y Use comprehensive security. Whether you're using a
mobile banking app on your phone or browsing the
Y recording keylogs
internet on your desktop, it's important to safeguard
Y sending, receiving, and deleting SMSes, all of your devices with an extra layer of security. Use
Y stealing contact lists robust security software like McAfee Total Protection
etc so you can connect with confidence.
Y forwarding calls
Y Back up all the important files and store them
Y collecting device information
independently on a different system
Y Tracking device location
Y Disable all third-party applications installed in your
Y stealing account credentials, phone, which could be vulnerable entry points.
Y disabling Play Protect Y Report phishing links to cybercrime.gov.in.
Y downloading additional apps and payloads Y Banking sector are issuing related advisory to their

Y removing apps from the infected device customers against the Cerberus Trojan Malware.
Y pushing notifications Y State Bank of India has also issued an advisory for its
customers against the Cerberus Trojan quoting 'Beware
Y locking device's screen
of fake SMSs claiming to provide big offers or
information on current pandemic via unknown links or
Tips to be safe from this dangerous
downloading apps from unknown sources, as they are
Trojan: meant to cheat you'.
Y Never click on email/ SMS attachments or links that
come from an unknown sender, i.e. Click with caution. References:
Only click on links from trusted sources. If you receive X cyberops.in/blog/Cerberus
an email or text message from an unknown sender X www.bleepingcomputer.com
asking you to click on a suspicious link, stay cautious and X SBI Official Twitter handle
avoid interacting with the message altogether
X Times of India
Y Update your passwords regularly and make sure they are X thehackernews.com
strong. -Install anti-malware software on your phone
Y Be careful what you download. Cerberus malware uses ''Views and opinions expressed in the article are of the
social engineering strategy to make its way onto a author and not of the Bank''. T

Transfer pricing: CBDT notifies tolerance range for AY 2020-21

The Central Board of Direct Taxes (CBDT) notified the tolerance limit of 1% for wholesale traders and 3% for others
under transfer pricing for Assessment Year 2020-21. The Central Government hereby notifies that where the variation
between the arm's length price determined under section 92C of the Income-tax Act, 1961 and the price at which the
international transaction or specified domestic transaction has actually been undertaken does not exceed 1% of the
latter in respect of wholesale trading and 3% of the latter in all other cases, the price at which the international
transaction or specified domestic transaction has actually been undertaken shall be deemed to be the arm's length
price for the assessment year 2020-2021.
The word "wholesale trading" means an international transaction or specified domestic transaction of trading in goods,
which fulfills the two conditions. Firstly, the purchase cost of finished goods is eighty percent. or more of the total cost
pertaining to such trading activities. Secondly, the average monthly closing inventory of such goods is 10% or less of
sales pertaining to such trading activities.

BANKING FINANCE | NOVEMBER | 2020 | 33