Qatar Tackles Cybercrime in Finance: Banking Sector Takes Steps to Ensure Online Security
Doha, Qatar - The financial sector in Qatar is taking a proactive approach to combating cybercrime, recognizing the importance of ensuring the safety and security of online transactions.
Combating Cybercrime through Collaboration
The Financial Information Experts Committee (FS-IREC) was established in 2009 as a partnership between the banking sector and ictQATAR’s Center for Information Security, Q-CERT. The committee brings together representatives from the banking sector to identify and mitigate technology risks that threaten the security of financial transactions.
- Developed a new technology risk chapter for the upcoming Instructions to Banks Manual
- Includes information security and risk best practices for banks and data security standards
“We are working together to institute positive changes within the banking sector and have created an environment of collaboration between all banks in Qatar,” said Malike Bouaoud, ICT Risk Section Manager at Q-CERT and Chairman of the FS-IREC Committee.
Cybersecurity Awareness Among Banking Clients
The committee’s efforts have highlighted the importance of cybersecurity awareness among banking clients. Individuals need to take control of their financial security by:
- Keeping their bank’s latest contact details on hand
- Safeguarding their PINs
- Conducting banking in a safe environment
- Keeping online banking details private
Common Cyber Threats and How to Avoid Them
Cybercriminals in Qatar are using various methods to target Internet users, including:
- Online shopping scams
- Fraudulent emails
- E-card and phishing schemes
- Social network scams
To avoid falling victim to these scams, individuals should:
- Keep up-to-date with the latest schemes
- Install, update, and activate security software
- Use strong and unique passwords
- Update passwords regularly
- Connect to legitimate Wi-Fi networks
- Make sure they are shopping on secure sites
- Look for third-party seals of approval on websites
Additional Tips for Online Security
The committee recommends:
- Creating a dummy email account for online marketing, newsletters, or shopping
- Using credit cards instead of debit cards when making online transactions
- Reporting any suspicious activity to your bank
Stay Safe Online
The bottom line is that all cyber users should always be aware of anything that looks suspicious and report it to their bank to stay safe online.
For more information on cybersecurity, visit Q-CERT’s website.