B20 summit to discuss business transformation that enables inclusive growth    Saudization in private sector rises to 21.5% in 3Q    Q3 Saudi-Bahrain trade surges by 43% Trade between two kingdoms hit $2.17bn during the first three quarters of 2020    UN treaty banning nuclear weapons set to enter into force in January    HRH Crown Prince Condoles Sultan of Brunei Darussalam on Death of his Son    Joint Forces Command of the Coalition to Restore Legitimacy in Yemen: Interception, Destruction of Bomb-Laden UAV Launched by Terrorist, Iran-Backed Houthi Militia Toward the Kingdom    IOC praises resolution to postpone NOC's elections    Spain declares state of emergency to impose regional curfews    OIC Secretary General Receives Australian Ambassador to Saudi Arabia    Bestselling global literary icons will lead cultural program at SIBF 2020    Recovery rate improves as new coronavirus infections drop    MoE to hold first semester final exam remotely    Riyadh Region Governor Receives Lebanese Ambassador    Monshaat, Community Jameel discuss ways to support SMEs in Saudi Arabia    SABIC reports Q3 net profit of SR1.09 billion    King Fahd Port Achieves Increase in Total Products by 5% During September 2020    Japan expects record low number of newborn babies for 2020    Emirates Post issues stamp to mark start-up of Unit 1 of Barakah Plant    Closure of the October 2020 Issuance under the Saudi Arabian Government SAR-denominated Sukuk Program    Philippines Evacuates Nearly 1,800 as Tropical Storm Molave Approaches    Saudi Press: Saudi Arabia Calls On International Community to Ensure Using Space for Peaceful Purposes    Weather Forecast for Sunday    Brazil Reports 432 New Coronavirus Deaths    SAMA to Commemorate Saudi Arabian G20 Presidency by Introducing SR20 Denomination Banknote    Philipsen claims first podium at Vuelta España    CSG, Deccan Knights, Makkah Eagles, ARM triumph in Ace Travel Saudi Cup event Usman (120), Naseer (84 & 5 for 44), Bilal (79), Nazeer (75), Mohsin (74), Malik (66) shine    Plan to make vaccinations compulsory for birth certificate    Global AI Summit 2nd Day Witnesses Establishment of 3 Strategic Partnerships    Sharjah Film Platform to feature over 60 films    Combining the love of football with humor on Twitter    Dubai Sports Council, UEFA discuss mutual cooperation    Arab world's modern-day cultural pioneers, intellectuals to convene at SIBF 2020    MoH Marks World Osteoporosis Day 2020    Saudi man accused of harassing foreign wife asked to be produced before court Court allows divorce, custody of children by mother    Man United, Liverpool in talks to join new European super league    KSrelief, IMC, Sign Memorandum of Cooperation    Napoli blast four goals as they thumped Atlanta 4-1    VAR foils Liverpool in derby draw with Everton    Ithra to Launch 3rd Creativity Season (Tanween)    MoH Calls on Groups of Patients to Postpone Umrah Performance    Red Sea International Film Festival Announces a New Short Film Competition    S. P. Bala, legendary Indian singer, dead at 74    Happy National Day 90    Every work has its fruits, so choose wisely    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Digital transformation threats discussed in a remote forum
Published in The Saudi Gazette on 06 - 05 - 2020

NGN International, a leading IT systems integrations and IT consultant company based in Bahrain, held with partners Airome and Group IB and its key clients an online meetup "Digital Transformation Threats", in which critical issues were discussed, including payment transaction security and seamless user digital banking experience.
Additionally the discussion focused on how to provide banking clients with fast and secured online transactions, and detecting online banking frauds and thefts proactively using AI (Artificial Inteligence).
The speakers focused on the recent discovery sharp rise in the number of fraudulent activities by global cybersecurity service providers, as online payment operations are at peak demands globally.
The meet stressed that malware and "Trojans" as one of the most common digital crime tools amongst cybercriminals and their focus on monetary gains.
Malwares on the other hand focus on illegal collection of personal credentials for electronic payment platforms, online banking systems and as well as one-time passcodes, then pass them to the cybercriminals.
Pavel Melnichenko, chief technology officer at Airome, spoke about how to make transactions confirmations on mobile phone convenient and secure, while Tim Bobak, MEA director at Group-IB, gave a deep-dive into implementing an effective digital anti-fraud strategy and how this can be used to enhance traditional transactional approaches to stopping theft from customers, and forum participants also answered questions about Fraud Protection for online banking users.
This forum has been specifically directed to those in charge of banking institutions and payment processing companies, heads of IT departments and their deputies, IT managers and cybersecurity managers and analysts, senior risk officials and their representatives and risk managers, executives, and digital transformation officials in various institutions.
CEO of NGN International, Yaqoob Al Awadhi, stressed the importance of this meet by adding, COVID-19 pandemic has no doubt accelerated business adaptation of Digital Transformation and realization of its importance in business envoirnment due to the pressures of business continuity.
This put pressure on IT Managers to open up remote access for large number of staff operating from home to connect to corporate backend, Risks Department to build, adapt and enforce cyber securty framwork and HR to draft Policies for working from home.
On the other hand "Cybercriminals are seemingly focusing on launching attacks using Trojans to target employees' computers and smartphones, especially employees in the financial and banking sector, to obtain information that enables them to penetrate the systems of these institutions and carry out theft or extortion to obtain funds.
The percentage of targeting company employees increased significantly during the recent period which indicates that attacks on the corporate sector are not limited to providing financial institutes but extends to access companies' resources through the employees themselves. — SG


Clic here to read the story from its source.