Connecting to LinkedIn...



Survey shows two in five banks under cyberattack

30/05/2014 by


Leading experts from the banking and financial sector will convene at the second Gulf Information Security Expo and Conference (GISEC) 2014 to explore ways of tackling cybercrime, as a new survey shows a major share of Middle East firms are being targeted.

PricewaterhouseCoopers’ (PwC) 2014 Global Economic Crime Survey suggests that banks are an increasingly desirable target for cyber terrorists and hackers. Nearly 40 per cent of financial sector respondents said they had been victims of cybercrime, compared with 17 per cent in other industries.

One of the key session topics at the GISEC conference will look at case studies of how cybercrime is being tackled in the financial sector. The session will look at the ways in which financial institutions use a combination of fraud and cybercrime prevention technology.

The conference will be held from June 9 to 11 at Dubai World Trade Centre (DWTC).

GISEC conference speaker Mohammad Abbas, the chief security officer of Bank Al Habib, a Pakistan-headquartered bank with branches in the GCC, will explore measures and techniques that banks and financial organisations need to focus on to fight the increasing cybercrime rate. He will also address the importance of managing a malware outbreak, since malware ranks among the top threats facing organisations.

“Online offences 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.”

Habib added: “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.”

This article has been extracted from, please click on this link to read the article in full

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News


Humans remain largest security flaw in cloud ...

2016-10-21 14:00:00 +0100

With a vast number of companies moving some, if not all, of their operations to the cloud, security continues to be of major concern. Whilst there are numerous patches and firewalls to safeguard defences, it has been highlighted that the most difficult area to protect against is human interaction. This is the view of Jamie Woodruff, a penetration tester and ethical hacker. Woodruff’s views come after he was contracted to conduct a penetration test in or...


Offshore exploration providing boost for oil ...

2016-10-19 09:00:00 +0100

The oil and gas industry has had a notoriously challenging time of late, with the prices of oil plummeting and causing many firms to tighten their belts. However, offshore exploration is providing a much-needed bright spot for the sector, with an increasing number of governments becoming more accommodating. In the past week, it has been revealed that there are big changes afoot for Brazil’s petroleum laws. Shell has already begun to move on this opportu...