Financial Crime World

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Cybersecurity for Financial Institutions in Oman: A Case Study of Oman Arab Bank

As one of the largest banks in Oman, Oman Arab Bank (OAB) has been facing an exponential growth in cyberattacks, with over 15,000 external threats and thousands of spam and phishing emails daily. To address this growing concern, OAB turned to Trend Micro for a comprehensive cybersecurity solution.

About Oman Arab Bank

Established in 1984, OAB has grown to become a network of more than 65 branches and representative offices across Oman, serving over 1,200 end-users. The bank offers a range of products and services, including:

  • Retail banking
  • Corporate and project finance
  • Investment banking
  • Trade finance
  • Islamic banking

The Need for a Comprehensive Cybersecurity Solution

Basheer Al Balushi, Head of IT Security at OAB, noted that the bank’s standalone systems provided little visibility and were difficult to manage, resulting in costly downtime during upgrades and patches. To increase efficiency, OAB needed a preventive security measure that could secure its endpoints, networks, and data centers.

The Solution: Trend Micro’s Connected Threat Defense

OAB required an end-to-end cybersecurity solution from a Gartner-certified partner with enterprise-level expertise. Trend Micro’s Connected Threat Defense fit the bill, providing:

  • Heightened visibility
  • Integration with the bank’s IT ecosystem
  • Protection against ransomware and other attacks
  • Improved security management efficiency through automation
  • Real-time updates on blocked attacks

Benefits of the Solution

Thanks to Trend Micro’s Connected Threat Defense, OAB has a simplified and centralized security system, enabling:

  • Faster and more effective incident response
  • Better management of the IT environment across multiple layers of security
  • Confidence that their environment and data are protected

Setting the Standard for Cybersecurity Best Practices

Oman Arab Bank is now setting the standard for cybersecurity best practices in the financial industry, with plans to implement endpoint segmentation on its network using Trend Micro’s DR security. With Trend Micro as its partner, OAB can confidently roll out new products and strategies for customers and partners.

Conclusion

As a result of its partnership with Trend Micro, Oman Arab Bank has become a role model for cybersecurity excellence in the Omani banking industry.