NIBAF and Risk Associates Strengthen Pakistan Cybersecurity

The National Institute of Banking and Finance (NIBAF)-Pakistan partnered with Risk Associates and set up a two day PCI DSS training for improving Pakistan’s cybersecurity capabilities. Supported by the State Bank of Pakistan (SBP)‘s initiatives towards safe digital finance, the seminar welcomed cybersecurity professionals and managers of the highest-ranked banks and financial institutions. Each party involved aimed to improve payment security and establish trust in digital transactions.

Risk Associates, a renowned global cybersecurity company, passed on valuable insights on PCI DSS v4.0 (the latest version of the Payment Card Industry Data Security Standard). Some of the cyber threats we face these days are fixed by some features they highlighted such as payment security design, cardholder data security, and long-term compliance management.

Lubna Malik, Co-CEO of NIBAF Pakistan said the training is an important step towards improving security in the industry.  Dr Aftab Rizvi, CEO of Risk Associates added that it helps in attaining international standards and establishing local expertise. For further advancement the two organizations will emphasize cybersecurity management at an advanced level ISO/IEC 27001 and new threats training. This will help Pakistan’s finance and fintech sectors compete on an international level.

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