ACCA hosts ses­sion on cy­ber se­cu­rity

Pakistan Observer - - ECONOMY WATCH - STAFF RE­PORTER

KARACHI—As­so­ci­a­tion of Char­tered Cer­ti­fied Ac­coun­tants (ACCA) hosted a ses­sion on cy­ber se­cu­rity in Karachi. The ses­sion brought to­gether a panel of lawyers, IT spe­cial­ists, and fi­nance pro­fes­sion­als to dis­sem­i­nate in­for­ma­tion on how busi­nesses that are vic­tims of cy­ber crime can seek pro­tec­tion from be­ing sued by cus­tomers.

Amongst the pan­el­lists were Arif Ma­sud Mirza Head of Pol­icy MENASA, ACCA; Bar­ris­ter Zahid Jamil, Se­nior Part­ner at Jamil and Jamil; Muham­mad Azam Mughal, CEO & Chief Con­sul­tant In­foSec; Muham­mad Ju­naid Shekha, CEO at IT Minds; Haider Pa­tel, Part­ner Tax at Ernst and Young.

Haider Pa­tel, Part­ner Tax at Ernst and Young be­ing one of the pan­el­lists high­lighted as dig­i­tal­iza­tion goes on rev­o­lu­tion­iz­ing our lives the threat from Cy­ber crimes grows at a faster pace. For this we need to un­der­stand the na­ture of pos­si­bil­i­ties of cy­ber crime in our sur­round­ings, as­sess and mit­i­gate ex­ist­ing and emerg­ing risks, Im­ple­ment and main­tain strong data pri­vacy/se­cu­rity con­trols and poli­cies con­stant ed­u­ca­tion of users within an or­ga­ni­za­tion and fi­nally make IT risk a board level con­cern in the cor­po­rate world.

Speak­ing at the event, Arif Ma­sud Mirza com­mented that the sen­si­tive cus­tomer in­for­ma­tion in­clud­ing their coded or en­crypted pay­ment de­vice de­tails could be open to theft and crim­i­nal ac­cess by those with the know-how to break into these dig­i­tal trea­sure troves. In­deed not only the cus­tomer in­for­ma­tion but also busi­ness ac­counts or the fi­nan­cial sys­tem it­self presents a tempt­ing prize to the op­por­tunist cy­ber crim­i­nals. Busi­nesses must un­der­stand their po­ten­tial li­a­bil­ity from loss of cus­tomer in­for­ma­tion that finds its way to cy­ber crim­i­nals and the dam­ages of fi­nan­cial loss and non-fi­nan­cial loss aris­ing to the cus­tomers from the breach.

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