Dangers of cyber security, global intelligence threats discussed

Manama : The Bahrain Institute of Banking and Finance (BIBF) recently held a Thought-Leadership Masterclass titled “Cyber Security and Global Intelligence Threats” for executives in the Banking and Finance industry at the BIBF headquarters in Juffair. 

The masterclass shed light on the increasingly recurrent, dynamic, and daring daily cyber security and global intelligence threats undermining the very integrity of business financial systems, brand/intellectual property and privacy. The session focused on economic cybercrimes as it has developed as a subject of concern recently. The masterclass discussed the difference between what is called the Surface Web and the Dark Web, which is the platform utilised by hackers to commit crimes without being detected by the authorities and intelligence services. 

BIBF Director Solveig Nicklos stated, “Every organisation needs to ensure that it has the cyber tools necessary to investigate cybercrimes, and to be prepared to defend against them especially in the dynamic and fast-paced nature of the economy. It is often overlooked how Cyber Security and Global Intelligence Threats undermine the integrity of financial systems and privacy. Consequently, we at the BIBF as the leading provider of pioneering, industry-relevant training and education constantly highlight this topic to the industry to be discussed by top international experts.” 

Mark Johnson, who is the founder and CEO of Sovereign Intelligence, LLC, a global intelligence collection firm specialising in Cyber security, led the masterclass. 

Johnson stated that millions of records related to bank information, credit card, and other important information are being leaked regularly on an international level. In addition, the masterclass covered Peer-2-Peer domains and the role of social media in increasing the risk of cybercrimes as these platforms undermine cyber security and make it easier for hackers to obtain valuable information users might have shared to their personal circle.

Johnson served as an NCIS Senior Staff Counterintelligence Officer in support of the USN’s Advanced Sensor Technologies Programme, providing intelligence solutions while working closely with defence contracting firms. 

The masterclass aligns with BIBF’s objectives to provide industry relevant topics and sessions to be delivered by top experts in the world to enhance its position as a pioneer in the education and training fields.