Cybersecurity Experts Harp on Information Security in Financial Industry

Emma Okonji

Experts in the field of cybersecurity have stressed the need for organisations in the financial industry to maintain high level of information security awareness among employees, in order to protect the financial industry from attack on its sensitive data.

The experts stressed the need for training and re-training of employees in the financial industry, while insisting on basic knowledge for all employees to manage sensitive data that sits in the financial industry.

The panelists spoke at a panel session on information security, organised by the Nigeria Computer Society, with the theme: ‘Information Security in the Financial Industry.

Co-founder and Lead Forensic Examinar, Digital Footprint Nigeria Ltd, Dr. Robinson Tombari Sibe, said security awareness in the banking sector has been very low but that the regulator has been awaken to strengthen security in the financial sector that has a lot of data.

“The banks have been very compliant and leading the sector in that regard because they have sensitive data to protect. The Health sector is another sector that has sensitive data, but I do not think they are very keen about compliance,” Sibe said. 

CEO, Hyperspace Technologies, Oluseyi Akindeinde, called on regulatory bodies not to stifle the growth emerging technologies like Articicial Intelligence (AI), Blockchain technology and Internet of Things (IoTs) with regulation.