Securing Financial Services for Sustainable Growth of East African Economies

Thursday, August 10, 2017

Uganda and East African region overall is focusing on digitization and internet services as strategic means for improving public service delivery and facilitation of economic growth. With increasing digitization comes the need to ensure resilience against cyber threats – both internal and external. Digitization will produce desired benefits only if countries succeed to develop secure environment, employ secure technologies and designs as well as educate people, institutions, and businesses about cyber threats and secure behavior.

In 2017, massive ransomware attacks affected a variety of sectors worldwide, disturbing healthcare, education, transport, national security and financial organisations. 

Financial sector is one of the key targets for cyber criminals. High-profile cyber attacks on banks, such as last year’s $81-million heist at the Bangladesh Bank or $13-million withdrawn in Japan using data stolen from South Africa's Standard Bank, provide insights into potential consequences. Disruption in accessibility of financial services, failure to ensure data integrity or a loss of confidence in the system can potentially cripple the entire economy. In addition, financial sector has its unique features, such as interconnectedness of the financial systems, which renders necessary specific approach and specific measures. 

Therefore, NRD Companies and NITA-U have dedicated the 5th annual Cyber Defence East Africa 2017 conference to financial sector security. The event is taking place in Kampala, Uganda, on 9-10th August 2017 and is expected to be attended by senior financial sector officials from Uganda and other East African region countries, together with leading policy-makers, law enforcement officers, CEOs, CIOs, CTOs and heads of IT departments from across East Africa.

           

The purpose of the first day of the conference is to emphasize that cyber security is first and foremost – a management issue.It featured high-level keynote speeches and panel sessions on cyber security threats to the financial sector, critical infrastructure protection and information sharing. The Policy day was concluded by signing of a Declaration on Cyber Security that calls to action the stakeholders, responsible for the stability and security of the financial sector in the East African Community. Venue for the first day was the Uganda Bureau of Statistics (UBOS), Conference Hall.

The second day of the conference is dedicated to practical trainings, divided into two parallel tracks: Track 1. Information Analysis and Track 2. Open Source Intelligence. The participants are learning how open source data and information analysis can increase the resilience of financial sector by preventing, deterring and investigating cyber-attacks. Technical trainings are being delivered by a specialized Northern European company NRD Cyber Security.  Venue for the second day is the Information Access Centre, Ministry of ICT & National Guidance

Participation is free.  To reserve your seat and for more information, please visit: www.cybersecurity.ug 

 

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About Cyber Defence East Africa 2017 

For the last five years NRD companies have been organising annual Cyber Defence East Africa (CDEA) conferences in order to assist East African organisations in creating secure digital environment for states, governments, corporations and citizens.

      

NRD Companies and National Information Technology Authority - Uganda (NITA-U) organized an annual Cyber Security East Africa 2016 conference in Kampala, Uganda. Previous conferences took place in Tanzania. More information: www.cybersecurity.ug 

About NRD Companies

NRD Companies is a global information technology and consulting group of companies specialized in governance and economic digital infrastructure development with headquarters in Norway. More information: www.nrdcompanies.com 

About NRD Cyber Security

Cybersecurity technology consulting, incident response and applied research company NRD Cyber Security facilitates NRD Companies mission of creating secure digital environment. The company focuses on services for specialized public service providers (law enforcement, national CERTs, telecoms, national communication regulators, and national critical infrastructure), the finance industry and corporations with high data sensitivity. More information: www.nrdcs.lt 

NRD companies and NRD Cyber Security are both managed by INVL Technology - Nasdaq Vilnius listed closed-end investment in IT businesses company. INVL Technology managed companies operate as a cluster and implement joint projects in more than 50 countries worldwide. More information: www.invltechnology.lt 

 

About NITA-U

The National Information Technology Authority-Uganda (NITA-U) is an autonomous statutory body established under the NITA-U Act 2009, to coordinate and regulate Information Technology services in Uganda. NITA-U is under the general supervision of the Ministry of Information and Communication Technology (MoICT). NITA-U is mandated with coordinating national information security. More information: http://www.nita.go.ug/ 

As part of the Authority, the National Computer Emergency Response Team/ Coordination Center (CERT.UG/CC) was setup to help to ensure the protection of the nation’s Critical Information Infrastructure, assist in drafting the overall plan on the country’s approach to cyber security related issues and thus can serve as a focal point for further building and implementing the National Culture of cyber security. More information: www.cert.ug