With cybercrime being the second most reported economic crime in the Middle East according to the PricewaterhouseCoopers’ (PwC) 2014 Global Economic Crime Survey, leading experts from the banking and financial sector will convene in Dubai to tackle this issue.

 

The second Gulf Information Security Expo & Conference (Gisec) 2014 will run from June 9 to 11 at the Dubai World Trade Centre.

 

Banks are an increasingly desirable target for cyber terrorists and hackers, according to the survey, where 39 per cent of financial sector respondents said they had been victims of cybercrime, compared with only 17 per cent in other industries. 

 

A key session at the expo will present various case studies of tackling cybercrime in the financial sector. It will look at how financial institutions use a combination of fraud and cybercrime prevention technology and operations in support of a holistic approach to cybersecurity.

 

Mohammad Abbas, chief security officer (CSO) of Pakistan-based Bank Al Habib, which has branches in the GCC, will explore measures and techniques that banks and financial organisations need to focus on to fight the increasing cybercrime rate. 

 

The importance of managing a malware outbreak since malware ranks both in the top threats and the most common security risks facing organisations will also be addressed.

 

“Online offenses such as money and identity theft are the most common and profitable strategies used by cyber criminals,” said Abbas. 

 

“However, cybercrime syndicates are now using even more sophisticated attacks to defence systems put in place by organisations and nations and these need to be tracked accurately with robust defence mechanisms against these syndicates.”

 

“Many government organisations and private sector companies need to take necessary steps and tactics when dealing with malware infections while balancing and maintaining a high operational and low risk profile. They also need to address challenges faced to control deficiencies and align defences with people, processes and technologies,” he said.

 

The most commonly occurring cyber threats in this region are to applications, systems and networks, while mobile devices, removable storage devices and data held by third parties are also at risk, said the survey. 

 

Trixie LohMirmand, senior vice president, DWTC, the organisers of the event, said: “UAE has managed to be at the forefront of Middle East’s information security development because of its continuous efforts to address key challenges faced by emerging economies.”

 

“Gisec continues to offer exhibitors and visitors several opportunities to dissect, debate and discuss the challenges of the regional IT sector. This year’s edition of GISEC provides the perfect platform bringing together the top industry experts, professionals and opinion leaders who play a significant part in the transformation of the IT landscape under one roof,” she said.

 

“Delegates and visitors will share knowledge in the field of oil and gas, government, legal, healthcare, telecoms and most importantly the banking and finance sector since this sector is one of the major target of cyberattacks,” she added

 

Other regional and international experts in IT security will expose the truth about commercial IT system security and why most attacks can be thwarted by intelligent IT network architecture; the significance of critical information security issues to empower businesses with superior protection; and strategies to map out existing infrastructures to adequately protect them against realistic threats among several others.

 

The conference segment of Gisec, which will host delegates from over 18 countries, will explore issues on global cybersecurity vulnerabilities and threats against systems, applications, and personal networks.  

 

A two-day focused IT security conference along with free-to-attend security sessions on vendor-run educational presentations, workshops, demonstrations, informative speeches and case-studies will give IT professionals useful insights to help defend their businesses from cyber attacks. - TradeArabia News Service