EIBFS holds successful seminar on cyber crimes and internet threats against banking sector

Dec. 18, 2012 - PRLog -- IT security experts have warned that the lack of awareness in IT security combined with the lack of preparedness has led to an increase in online criminal activities. Recent reports have shown that the Middle East has seen a rise in cyber attacks across various industry segments like banking and finance sector, Oil & Gas, government websites and even news portals. Looking to play its part in the move to increase awareness on the importance of IT security, the Emirates Institute for Banking and Financial Studies (EIBFS), the sole provider of specialized knowledge and enhanced learning experiences for the UAE banking and financial sector, successfully hosted a seminar on cyber crimes and internet threats against banking and financial institutions in the UAE on December 17, 2012 at the institute’s Sharjah Campus.

“Cyber crime has become a major concern for companies and organizations in the Middle East, particularly across banking and financial institutions. The increased instances of security breaches and other forms of cyber attacks are because of the lack of information on the importance of installing and implementing an IT security solution,” said Jamal Al Jasmi, General Manager, EIBFS. “Financial institutions today offer Internet-based and mobile-banking services, placing them under increasing pressure to provide enhanced customer protection against phishing, sophisticated malware, and other fraudulent activities. This event demonstrates our move to play a significant role in the campaign to make businesses and individuals aware of these cyber threats. Through this seminar, we were aiming to teach participants the essential information on how to avoid these attacks and what to do when being attacked.”

The event was broken down into of six key sessions that were aimed at informing participants on how to avoid cyber crimes and what to do when you become a victim of a cyber attack. Topics discussed included;
•    Cyber threats against banks and online banking fraud: New Trends
•    Cyber Fraud: Are you ready?
•    Cyber crime challenges in banks
•    Security trends for banks
•    ATM and POS fraud
•    Cyber crime investigations