DHAKA: IFC, a member of the World Bank Group, held a one-day cyber security regional conclave in Dhaka on Nov 30, 2016. S.K. Sur Chowdhury, Deputy Governor of the Bangladesh Bank was present as chief guest.
“Given the ever increasing significance of cybersecurity in a globalised world, where crime methods are evolving, this should be the most important seminar of the year,” observed the Deputy Governor.
He also underlined the necessity to automate all sectors in order to safeguard information plus financial transactions.
“Cyber criminals are a determined bunch,” said S. K Sur and added: they thrive on persistence and while we are trying to introduce new security measures, cyber criminals are not solely relying on outdated methods to swindle people.”
“Therefore, we must be ahead of the vice circles at all times.”
Speakers at the seminar emphasized on ‘spoofing’ and ‘phishing’ – two widely used methods, masquerading as non-damaging emails, used pervasively to hoodwink innocent people into handing out their personal plus financial details.
The approach for heightened cybersecurity must have a three pronged approach, aiming people, process and technology, underscored Shrimant Tripathy, Head of IT Risk & Security Advisory of the World Bank Group.
While talking about current cyber security breaches, he noted that 89 per cent of security infiltrations had either financial or espionage motives.
“In 2015, there have been 84 million new malware samples.”
Also, Cyber-security is not an IT only issue, but an enterprise-wide issue, requiring a risk management approach, observed Tripathy.
It was revealed that, on average, 170 days are required to detect malicious activity.
Speakers at the conclave also concurred that immature information security culture is a prime cause leading to cracks in cyber security.
Senior management or the board has a fiduciary responsibility to understand and oversee how their organizations are managing cybersecurity risks, stated David Ray, Senior Officer, IT Risk and Security Advisory of the World Bank Group.
The cyber security event was supported by the government of Luxembourg.
Kamal SaifulQuadir, CEO, bKash Limited, Anis A Khan, President, Bangladesh Bankers Association, UpendraPoudyal, President, Nepal Bankers Association, Shiva Ram Dawadi, Director, Nepal Rastra Bank, SharmilaHardi, IFC Global Manager for Financial Institutions Group, Ariane Di Iorio Andrade Ferreira, IFC Regional Industry Manager, Financial Institutions Group, Mohammad Rehan Rashid, IFC Resident Representative, Nepal, Shundil Selim, IFC Operations Officer, Victoria Dimple Penheiro,from the IFC Dhaka office, Shyamol B Das, Head of Technology, BRAC Bank, Rumesa Hussain, Associate Director, Ernst & Young, Dhakaand top professionals from local banks were present among others.
BDST: 1350 HRS, DEC 01, 2016
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