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Cyber security concerns at Colombo forum

DELTASPIKE Global Services recently shed light on emerging cyber security threats to the financial services industry at its “Way Forward to Cyber Resilience” CIO Forum in Colombo.

Senior cyber security specialists from the company spoke on how banks and other financial service providers are targeted online by criminals and how more developed markets are working proactively to prevent such crimes.

Sharing emerging trends in uncovering such stealth attacks, they addressed concerns around threat hunting and continuous monitoring. The forum also touched on challenges companies might face in finding the right talent for these efforts, a company media release said.

World renowned cyber security expert Jacob Williams (Jake) delivered the keynote address at the event which was attended by CIOs of some of the country’s leading banking and financial services institutions. Mr. Williams is the founder and principal consultant at Rendition InfoSec and has over a decade experience in secure network design; penetration testing, incident response, forensics, and malware reverse engineering.

“It is great to see that Sri Lankan financial services institutions are keeping abreast with global tech trends in their sector. And it was illuminating to hear their views on the implementation of cyber security measures in Sri Lanka. It is open, informative discussions like this that will help us all better understand the challenges we face and jointly create a more secure digital world,” he said.

DELTASPIKE on online threats, Mr. Williams demonstrated how simple vulnerabilities in digital platforms of financial services companies could leave them completely exposed. He highlighted several instances where criminals have exploited such vulnerabilities to stealthily gain access to their entire systems. This was followed by an exchange of ideas in which he gained a better understanding of the local financial services landscape and their use of technology. The forum then discussed the feasibility of continuous infrastructure monitoring, working on threat hunting and the challenges of skilled labor for such activities.