Jamaica Observer published an article on July 22nd, 2020 about Scotiabank ramping up Cybersecurity Investments.
Meanwhile, the enactment of the Data Protection Act is impending, Scotia Group Jamaica Ltd. President and CEO, David Noel stated that the company has already taken steps to strengthen their cybersecurity efforts.
Key points:
- In a recent Jamaica Observer Business Forum, Mr. Noel indicated that Cybersecurity is an area that his organization continues to invest in. As their parent company is located in a jurisdiction where similar data privacy laws are enacted, the company began a program a few years ago to increase capabilities in managing these laws.
- “We have created a role called the chief privacy officer, who is responsible for privacy, attached to our Compliance Department who helps go through our data privacy requirements. There are a number of attacks that happen daily that our cybersecurity system can detect and stop and so the key thing is ensuring that we continue to invest in cybersecurity so we can protect our customers’ information. We’re also committed to raising our investments in customer education and around phishing, because unfortunately with COVID-19, we have seen an increase in attempts in trying to access customers’ information”, Mr. Noel stated.
- Scotiabank’s mobile application authenticates customers via facial or fingerprint recognition and provides alerts of all activity on accounts. Customers will also be able to disable the use of their bank cards from the app if they should lose them.
Reference: jamaicaobserver.com
Contributed by: Jason Jacobs from Guyana. Jason is a member of the CCST Discord group from the G5 Cyber Security Foundation Ltd. Learn more about CCST (Caribbean Cyber Support Team) by visiting caribbeancst.org. CCST is a collaborative group on the Discord platform for Caribbean people in IT, from beginners to experts.