International law enforcement, fraud prevention and banking expert joins leading provider of in identity-based passwordless authentication
Bengaluru, December 19, 2022 – 1Kosmos, the only company that unifies identity proofing and passwordless authentication, today announced that Nandkumar Saravade has joined its Board of Advisors. He brings more than 35 years of security expertise in the domains of fraud prevention, law enforcement, banking and regulation to 1Kosmos.
According to research conducted by Group-IB, a cybersecurity research firm based in Singapore, India ranked third globally and first in the Asia-Pacific region in the list of 111 countries affected by a world-wide cyberattack involving a syndicate of cybercriminals stealing passwords through a concerted phishing campaign. The study found that cybercrime group Telegram infected 19,249 devices in the last 10 months of 2021 in India, while the number grew to 53,988 in the first seven months of 2022. The hackers were able to retrieve 117,645,558 cookie files, 4,547,020 passwords, details of 4,657 bank cards and 4,428 sets of crypto wallet information.
“Nandkumar is internationally recognized for his expertise in financial services, fraud prevention and compliance,” said Hemen Vimadalal. “His extensive experience and various roles he has played at service providers and governments on financial cybersecurity, and his industry relationships, will help 1Kosmos extend our leadership in banking and other key vertical markets in India and Asia Pacific.”
Nandkumar Saravade has served as both a senior executive and advisor to government and private sector organizations for more than three decades, and is sought out for his expertise on governance, strategy, ethics and cyber security. In addition to being the founding CEO of Reserve Bank Information Technology Pvt Ltd (ReBIT) for five years, he has had held senior management and advisory roles in banking with ICICI Bank and Citi, consulting with EY, and industry associations including NASSCOM and DSCI that spanned risk management, policy outreach and greenfield innovation. Prior to joining the private sector, Nandkumar served in the Indian Police Service for 21 years, including seven years in the Central Bureau of Investigation (CBI).
“I am delighted to join the company as an advisor, and look forward to helping advance the adoption of their technology. 1Kosmos not only improves security and the user experience, the BlockID platform also helps make the world more resilient to cyber fraud,” said Nandkumar Saravade.
1Kosmos enables passwordless access for workers, customers and citizens to securely transact with digital services. By unifying identity proofing and strong authentication, the BlockID platform creates a distributed digital identity that prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences. BlockID is the only NIST, FIDO2, and iBeta biometrics certified platform that performs millions of authentications daily for some of the largest banks, telecommunications and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in Somerset, New Jersey. For more information, visit www.1kosmos.com and follow us on Twitter and LinkedIn.
Press ContactMarc Gendron
Marc Gendron PR for 1Kosmos