Ithmaar Bank has enhanced its cybersecurity architecture with a digital risk protection solution in a bid to protect its customers and the general public from online fraud.
“The global COVID-19 pandemic has forced the world to reconsider many aspects of our daily lives,” explained Ahmed Abdul Rahim, CEO of Ithmaar Bank. “It has, for example, significantly accelerated the adoption of online technology and other digital solutions across various sectors, including banking and financial services. As a result, online presence has become, arguably, as important as physical, real-world presence,” he said.
“This, in turn, means that organizations need to take their brand presence as seriously online as they do in the physical, real-world,” said Ahmed. “Failure to do so, could allow fraudsters or other digital criminals to pose as the organization and, by doing so, to defraud, hurt or otherwise take advantage of unsuspecting customers. This can happen in many ways, including creating fake websites that look almost identical of the original or sending formal-looking emails to capture customer information.”
The Islamic retail bank has commissioned CTM360, a Bahraini cybersecurity firm, to provide round-the-clock cyber threat management to detect and respond to threats that may be targeting the Ithmaar Brand, its customers, or prospects.