Cybercrime in the Financial Industry: A Growing Concern in Malta
The Malta Bankers’ Association (MBA) is set to host a high-profile conference on November 29, titled “Cyber Risk in the Banking Industry - Addressing and Mitigating Threats”, at the Corinthia Palace Hotel in Attard. The event aims to tackle the growing menace of cybercrime in the banking sector.
A Half-Day Conference with Top Experts
The conference has attracted some of the industry’s top experts from prominent institutions such as the European Central Bank (ECB), Malta Financial Services Authority, Central Bank of Malta, and the European Banking Federation. The lineup features a range of distinguished speakers who will share their insights on enhancing awareness and improving governance in credit institutions.
Target Audience
The event is specifically targeted at key personnel in banks, including:
- Board directors
- CEOs
- COOs
- CIOs
- Officers in risk, compliance, security, internal audit, and IT
However, firms from other sectors of the financial services industry and economic players are also encouraged to attend, as they too are vulnerable to ongoing cybercrime threats.
Agenda
The conference will run from 8am to 1pm, followed by a networking lunch. The event comes at a critical time for the financial industry, which is grappling with the consequences of rapid technological development and an increasingly digital agenda.
The Rise in Cyber-Attacks
According to Karol Gabarretta, secretary general of the MBA, “the rise in cyber-attacks has put the spotlight on the need to strengthen cybersecurity within institutions.” The 2019 Internet Organised Crime Threat Assessment Report by Europol highlights the persistence and tenacity of key threats and the complexity of countering cybercrime.
The ECB’s Concerns
The ECB has also been emphasizing the importance of addressing operational risk drivers in the area of cyber risk, including loopholes in IT solutions, data integrity, cybersecurity, and cybercrime. In its Risk Assessment for 2020, the ECB noted that continued digitalization makes banks more vulnerable to cybercrime and operational IT deficiencies.
A Valuable Insights into Addressing Cybercrime
With information security governance topping the agenda for both banks and supervisory authorities, this conference is set to provide valuable insights into addressing and mitigating the threats posed by cybercrime. For more information on the event or to register, visit www.maltabankers.org, e-mail info@maltabankers.org, or call 2141 2210.
Join the Discussion
Don’t miss this opportunity to engage with industry experts and learn more about the latest trends and best practices in addressing cybercrime. Register now and be part of the conversation!