KUWAIT CITY, November 12: In line with its constant efforts to raise awareness of cyber fraud and threats, Kuwait Finance House (KFH) participated in the 5th Gulf Conference and Exhibition for Cybersecurity Challenges. The conference, titled "A Secure Digital Environment”, was hosted in Kuwait under the patronage of First Deputy Prime Minister, Minister of Defense and Minister of Interior, His Excellency Sheikh Fahad Yousef Saud Al-Sabah.

KFH Senior Manager of Fraud Risk, Ahmed Abdulwahab Al-Zamami, participated in a panel discussion on "Banking Data Privacy and Combating Cyber Attacks". Moderated by KFH Executive Manager of Cyber and Information Security Risk, Nasser Alqadeeri, the session brought together participants and experts from the Kuwaiti banking sector.

During his participation, Al-Zamami explained the concept of fraud in general, with a specific focus on cyber fraud. He highlighted the various methods of fraud that pose a threat to both individuals and the community. Al-Zamami emphasized that fraud is not solely confined to financial matters. Indeed, it encompasses a wide range of practices that fall under the definition of fraud.

Additionally, he discussed the reasons, motives and justifications that drive individuals to commit fraud, illustrating these points with real-life examples. He commended the efforts of the Central Bank of Kuwait, Kuwait Banking Association and local banks to combat these crimes. These efforts raise awareness of the importance of maintaining data privacy. They also emphasize avoiding responding to suspicious requests and focus on strengthening cybersecurity measures in vital sectors. He highlighted KFH’s successful endeavors in the Diraya campaign for disseminating banking awareness.

Al-Zamami affirmed KFH’s commitment to continue the efforts of adopting flexible practices while adhering to local and international cybersecurity regulatory and supervisory standards, serving the public interest of protecting data. He stressed the importance of utilizing the latest technology at KFH to boost its cybersecurity, one of the major factors for digital transformation.

He highlighted the significance of organizing similar conferences and forums to exchange expertise and information around cybersecurity and digital safety. These events are also an opportunity to address the best solutions that confront the growing challenges that are posing as a major threat in light of the digital transformation worldwide.

Al-Zamami lauded Kuwait’s role in hosting the conference since 2018. He also praised the country's efforts to develop the security system and pave the way for improving services through the conference and the panel discussions, along with the exhibition in which the latest solutions and technologies are demonstrated.