Background:

Individual financial institutions face significant exposure to cyber risk as financial intermediation is information technology-intensive and intermediaries are highly interconnected, inter alia, through payment systems. Therefore, it is important that at leadership level in banks and other financial institutions, there is sufficient understanding of technologies and digital pathways that generate cyber vulnerabilities, particularly amplified by digital transformation and interconnectedness. Also, at the leadership level there has to be due recognition of economic drivers and impact of cyber risk. The planning and preparedness against cyber-attacks needs to be dynamic and aim at prevention, mitigation and risk event management including response to attack. As cyber-attacks morph into new forms each day and find new routes to penetrate, cyber risk management has to combat the attacks at new frontiers each time. Enterprise-wide preparedness and capacity at strategic, operational and tactical levels with dynamic policies, sharp processes, innovative technologies and cutting edge skill sets are the key requirements.

Accordingly, it is important for banks and other financial institutions to strengthen their cyber resilience by anticipating and adapting to cyber threats and other relevant changes in the environment and by withstanding, containing and rapidly recovering from cyber incidents.

Objective:

This one-day long virtual conference aims at contributing to capacity building at senior and top executive level. It seeks to discuss some of the recent developments in the area of cyber-attacks and cyber risk from the perspectives of strategy, governance and technology. It will deliberate on the need to move from cyber risk management to cyber resilience strategy.

Program Highlights:

The following will be covered in the virtual conference:

• Review of recent cases of cyber-attacks
• New frontiers of data protection and cyber risk
• Cyber-crimes: Case studies, techniques & methods of handling cyber frauds
• Innovative solutions in deception technology – A new tool for effective handling of cyber-attacks
• Cyber resilience – Regulatory approaches and range of supervisory practices
• Legal aspects of cyber-attacks and frauds
• Cyber risk management and ERM: New frontier