Delegates attending the cyber security conference for the finance sector organised by ictQATAR’s Cyber Security Division – Qatar Computer Emergency Response Team (Q-CERT).
ictQATAR yesterday hosted a cyber security conference for the finance sector - fin.INFOSEC 2013, which focused on protecting sensitive data and enhancing security.
Representatives of the Qatar’s finance sector came together to address various issues as Internet commerce and banking continue to grow worldwide with consumers demanding more online and mobile services.
This, ictQATAR said creates tremendous opportunities for new business models and enhanced convenience, however for the finance sector, it also creates more challenges for information security. Additionally, as more consumer data is collected and stored, protecting the private information becomes another challenge.
The event was organised by ictQATAR’s Cyber Security Division – Qatar Computer Emergency Response Team (Q-CERT). “In the finance sector, cyber attacks impact large corporations and individual consumers equally. As the potential points for malicious and fraudulent activity increase as a result of advances in technology, it becomes increasingly essential for co-ordination among public and private institutions. Early warnings systems, information sharing mechanisms, applied research and situational awareness are at the heart of developing a safe, and resilient information services networks for the finance sector,” said Khalid al-Hashimi, executive director, ictQATAR’s Cyber Security Division/Q-CERT.
fin.INFOSEC 2013 covered a range of critical cyber security topics for the finance sector, including privacy protection, balancing usability and compliance, effective risk management, payment card security, ATM transactions and financial security awareness programmes. The conference featured both local and regional speakers, including experts from Q-CERT, VISA, HSBC Bank Middle East Qatar, BlackBerry and UBS.
Qatar’s planned Information Privacy and Protection Law was a major part of the discussions, with the law being praised for setting privacy standards for all sectors in the country and for making personal privacy its foundation.
Justin Kenny, HSBC Bank Middle East Qatar Chief Operating Officer said, “More data means more opportunities for businesses and governments to better serve their constituents, however it also brings greater responsibilities to protect personal information. Qatar’s pending privacy law provides a workable framework for the storage and usage of data to help citizens feel secure, while also allowing room for innovative uses of that data to create new opportunities and advancements.”
The second annual fin.INFOSEC conference supports the work being done by Qatar’s Financial Sector Information Risk Expert Committee (FS-IREC), which is a public private partnership group comprising regulators, and banks working within the financial services sector in Qatar.
The FS-IREC collectively addresses topics such as identification of risks in the finance sector, sector critical infrastructures, sector crisis management, standards and best practices, training and awareness, and areas for research and development.