New Age | Seminar on cybersecurity in banking sector held in Dhaka

In response to the rising threat of cyber-attacks on the banking sector, Cosmos Group, in collaboration with global technology leader Thales, hosted a seminar on cybersecurity at The Westin Dhaka on Monday.

The event aimed at providing comprehensive guidelines and effective solutions to combat these challenges.

The seminar attracted several prominent professionals from the banking industry, think tanks, and distinguished guests, highlighting the critical importance of cybersecurity in the financial sector.

French ambassador to Bangladesh Marie Masdupuy attended the seminar as the guest of honor, alongside Cosmos Foundation president Iftekhar Ahmed Chowdhury, Cosmos Group founder and managing director Enayetullah Khan, Cosmos Group vice-president Nahar Khan, Cosmos Group deputy managing director Masud Jamil Khan, and director (deputy secretary) at the Prime Minister’s Office AKM Fazlur Rahman.

James McLeary, cyber security practice lead Asia at Thales, delivered a presentation titled Cyber Threat Landscape and  Considerations for the Banking Sector. Prasun Srivastava, lead solution architect, APAC Channels at Thales, presented virtually on Solving Compliance – a Unified Platform Approach.

Nahar Khan emphasised the seminar’s significance, saying, ‘As we convened here today, all of us recognise the critical importance of prioritising the security of our digital infrastructure and cybersecurity as a core component of our banking operations. Bangladesh’s banking and finance sectors play a pivotal role in driving economic growth and empowering individuals and businesses alike. However, with the rapid digitisation of financial services, the sector is increasingly vulnerable to cyber threats. From sophisticated hacking attempts to insider fraud, the risks confronting our financial institutions are multifaceted and ever-evolving, and today’s seminar is not only about acknowledging these challenges but also about forging a path forward.’

‘Today, I’m glad to speak on behalf of Cosmos Group, which began its journey in the early 1970s and has since played a pivotal role in shaping the development and landscape of Bangladesh engaging across a spectrum of industries including energy, media, mining, telecommunications, shipping and logistics, and infrastructure. Cosmos has consistently contributed to various phases of Bangladesh’s progress and development. In the past, Cosmos Group and Thales have worked collaboratively on several projects, and I’m happy to share our continued partnership in cybersecurity. Thales is a global leader in advanced technology systems and contributes to 80 per cent of the world’s online transactions and securing the information systems of top global banks and internet giants, and I’m very proud of our partnership,’ she added.

French ambassador Marie Masdupuy noted the cooperative efforts between France and Bangladesh, stating, ‘During the visit of French president Emmanuel Macron to Bangladesh in September 2023, both countries agreed to work together on cybersecurity capacity. This aspect was also very much covered during Bangladesh’s state minister for posts, telecommunications and information technology Zunaid Ahmed Palak’s recent visit to France last week as he could engage with the French cybersecurity agency and see the cyber campus and other factors.’

Praising Thales’ expertise, she added, ‘France is ready to support Bangladesh with technical assistance, knowledge sharing, public awareness, and skill development to protect financial systems. Without robust cybersecurity, all progress can unravel rapidly. Cooperation in this area is vital.’