NSE Holds Summit to Discuss Cyber Threats in Capital Market

By Dipo Olowookere

On Wednesday, July 25, 2018, the Nigerian Stock Exchange (NSE) will hold its bi-annual Nigerian Capital Market Information Security Forum (NCMISF) themed, ‘Social Engineering, The Neglected Human Factor.’

The summit is scheduled to take place at the NSE Event Center, 2/4 Customs Street, Lagos with Mr Emomotimi J. Agama, Deputy Director/Head Exchanges of Securities and Exchange Commission (SEC) headlining it.

The forum is expected to bring together information security professionals and capital market participants to discuss emerging cybersecurity trends and share effective strategies and best practices to tackle cyber threats.

This free to attend conference, which is sponsored by FPG Technologies Ltd, Central Securities Clearing System (CSCS) Plc and Control Risks, is designed to leverage user education and layered technology defences to better detect and respond to social engineering attacks in the capital market ecosystem and  ultimately contribute to enhancing investor’s confidence.

This edition of the Nigerian Capital Market Information Security will also feature panel discussion and presentations from Mr Rex Mafiana, CEO FPG Technologies and Mrs Favour Femi-Oyewole, Head, Information Security.

Topics to be covered include, Reverse Social Engineering Attacks in Online Social Networks; Evolution of Cybercrime: The Present, Present, Future Social Engineering Attacks and Prevention; Plan for countering Cyber threats in the Nigerian Capital Market.

Commenting on the event, the Head, Information Security at The Exchange, Mrs Favour Femi-Oyewole, noted that ”with the growing use of technology and digital tools in the capital market, creating awareness and educating individuals and companies on the significance of information security management have become critical in addressing today’s constantly evolving cyber threats. ​

The 2018 Verizon Data Breach Investigations Report, which shows that more than 70% of all data breaches in 2017 involved phishing or some other type of social engineering, underscores the need for continuous cybersecurity education, as human factor continues to be a key weakness. Cybersecurity is not just about technological defences, it is also about people.

Mrs Femi-Oyewole further stated that “NSE is committed to working with government, regulator, international and local partners, market participants and other stakeholders to monitor developments and effectively respond to cyber threats in its drive to provide a sustainable capital market. We all have a role to play in keeping the capital market secure”.