Times of Oman

Bank Muscat joins hands with ITA to improve cybersecur­ity measures

The bank’s active participat­ion in the drill is a continuati­on of its policy of using cuttingedg­e technology to enhance banking convenienc­e and ease of use while at the same enhancing security for all its stakeholde­rs

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MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, has joined hands with the Informatio­n Technology Authority (ITA) to improve cybersecur­ity measures. The bank is taking part in a series of cybersecur­ity events that are being organised by the ITA later this month including the 8th Regional Cybersecur­ity Summit, FIRST & ITU-ARCC Regional Symposium for Africa and Arab Regions and the 7th Regional Cyber Drill.

Earlier in September, Bank Muscat took part in the Cybersecur­ity Readiness drill, which was held under the theme “Intelligen­ce of Malware”.

The drill was organised by the National Computer Emergency Readiness Team (OCERT) to assess cybersecur­ity readiness in OIC countries and saw the participat­ion of 14 countries including Brunei, Egypt, Indonesia, Malaysia, Morocco, Nigeria, Pakistan, Tunisia, Jordan, Sri Lanka, Azerbaijan, India, Mauritius, Rwanda, and Bangladesh.

The drill was organised by ITA for the second year in Oman and comes in line with the latest malware developmen­ts and the evolution of the intelligen­ce and threats associated with it. A number of scenarios were implemente­d to simulate the process of penetratio­n of systems programmin­g companies. These malware target organisati­ons and individual­s by embedding malicious software inside the code of industrial-control systems. The drill also conducted simulation for cross-border cooperatio­n in mitigating cybersecur­ity incidents.

Active participat­ion

The bank’s active participat­ion in the drill is a continuati­on of its policy of using cutting-edge technology to further enhance banking convenienc­e and ease of use while at the same enhancing security for all its stakeholde­rs, particular­ly customers. Bank Muscat offers innovative technology-driven banking products and services, especially electronic payment and web-based services, in tune with Oman moving towards a cashless society. The bank’s online and mobile banking platforms have been upgraded significan­tly, resulting in an increase of active users. Hence, security of all transactio­ns is of the highest priority to the bank.

Bank Muscat has been part of a number of anti-fraud awareness campaigns in the past whereby the bank has sought to educate and sensitise the general public with informatio­n that will enable them to easily recognise fraudulent practices. It will also educate people to always verify who it is they are dealing with before doing a transactio­n as well follow digital safety best practices.

Important role

Bank Muscat plays a systemical­lyimportan­t role in supporting the National Economy through its various activities and contributi­ons. The Bank also joins hands with different ministries, government department­s and non-profit institutio­ns help implement programmes and initiative­s that support different sectors as a responsibl­e corporate citizen that contribute­s to the nation’s progress and developmen­t.

The Bank’s strategy has been to always take advantage of cuttingedg­e technology to bring progress and developmen­t to all while avoiding pitfalls. By participat­ing in cyber drills and enhancing awareness of its employees and customers, the bank constantly ensures highest possible security of all transactio­ns in a manner that benefits all its stakeholde­rs.

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