12/11/2024
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12/11/2024
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KUWAIT CITY, November 12: Kuwait International Bank (KIB) took part in the 10th edition of the "Best Cyber Warrior" competition, organized by the Cyber Operations Directorate of the Kuwait Army in collaboration with the U.S. Army Central Command and under the patronage of First Deputy Prime Minister, Minister of Defense, and Minister of Interior Sheikh Fahad Al-Yousef. KIB's participation in this significant event reflects its ongoing support for the "Let's Be Aware" (Diraya) banking awareness campaign and its commitment to enhancing the capabilities of national cadres in cybersecurity and information security. This engagement also seeks to strengthen cooperation with leading international cybersecurity organizations and to exchange expertise to address the growing challenges in this critical field.
As part of the Bank’s participation, Basil Al-Suwaidan, General Manager of the Information Security, Privacy and Anti-Fraud Department at KIB, delivered a lecture titled "Embracing AI Security in the Financial Sector." Al-Suwaidan highlighted the importance of utilizing artificial intelligence to bolster security and counter the rising cyber threats faced by banking institutions. He emphasized that "cybersecurity has become an essential field in today’s world, impacting all state institutions and serving as a fundamental pillar for protecting organizations and national sovereignty."
Al-Suwaidan added: "We must recognize that cyber threats are evolving rapidly, and it’s essential to be prepared to address them with effective security strategies." He noted that AI can play a pivotal role in banking by improving operations, increasing efficiency, and enhancing security, highlighting the importance of using AI for comprehensive risk assessment.
Discussing the challenges associated with AI security, Al-Suwaidan stated: "We must be mindful of the potential obstacles when implementing this technology. Nonetheless, recent advancements in this field offer promising opportunities to improve security in the banking sector." He concluded his lecture saying that: "Through our participation in this event, we aim to strengthen our team's capabilities and acquire new expertise that will bolster our cybersecurity and provide better protection for our customers."
The competition took place at the Al-Jiwan Camp, with participation from 10 countries and 80 teams of contestants from various friendly and allied countries, as well as several military and civilian representatives from state ministries. The schedule was packed with lectures and workshops covering several strategic topics in cybersecurity, such as "Key Threats and Challenges at the National and Military Strategic Levels," "Zero Trust Architecture," and "API Attacks." It also included sessions on "Governance and Cybersecurity and the Role of Women in the Field," "Artificial Intelligence," and "Cyber Threat Intelligence."
It is worth noting that KIB’s participation in this event underscores its commitment to bolstering cybersecurity efforts and developing its team’s skills, contributing to improved efficiency, information security, and data protection on both local and international levels.
