Scotia Bank is investing more into Cyber Security

The Jamaica Observer published an article online written by Abbion Robinson on July 22, 2020, about Scotiabank ramping up cybersecurity investments.

With the impending passing of the Data Protection Act 2020, Scotia Group Jamaica Limited has begun to increase its cybersecurity and become compliant with the new act.

Key points:

  • David Noel, the CEO told a recent Jamaica Observer Business Forum, “We’re ready for the Data Protection Act as cybersecurity generally is an area that we continue to invest in. The good thing about being a global organization is that there are other jurisdictions, including our parent company’s, where there are similar data privacy laws, so we began a programme a few years ago to increase our capabilities in managing these laws.”
  • Scotia Group has spent millions to increase cybersecurity and train its employees.
  • They created a new role called the Chief Privacy Officer who would be responsible for privacy.
  • With the ongoing pandemic, they have seen an increase in attempts of accessing customers personal information.
  • Their mobile app can now be accessed with facial or fingerprint recognition, consumers get real-time alerts of their activities.
  • The Data Protection Bill introduced by Faval Williams passed in the Senate on June 12. It aims to secure the information of Jamaicans and outlines how personal data should be stored, collected, processed, and used.

 

Reference: jamaicaobserver.com


Contributed by Kyle Sterling from Jamaica. Kyle is a member of our Caribbean Cyber Support Team (CCST) initiative on Discord. CCST is a collaborative group on the Discord platform for Caribbean people interested in IT, from beginners to experts.

If you’re from the Caribbean, learn more and join the group by visiting caribbeancst.org.

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