Capital Market Operators Set To Tackle Cyber Threats

According to some experts, a strong cybersecurity framework is important in protecting the data and assets of investors as well as those engaging in online stocktrading.

This was discussed at the virtual conference organised by the Institute of Capital Market Registrars and the Fintech Association of Nigeria.

At the event, a cybersecurity strategist/architect, Austine Ohwobete, who spoke on the theme, ‘Cybersecurity threats and counter measures: Implications for security data management & online stocktrading’, noted that a strengthened framework to counter online threats would help safeguard investors assets from theft, fraud and unauthorised access, thus ensuring the integrity of financial transactions.

“Cyberthreat refers to any potential or actual danger that arises from malicious activities targeting computer systems, networks, or digital infrastructure and this encompasses various intentional actions or events that aim to compromise the confidentiality, integrity or availability of information or technology resources.”

He urgently encouraged capital market registrars, as custodians of securities data, and other participants to put up measures to mitigate against securities data.

“Safeguard sensitive financial information, trade secrets and customer data to prevent unauthorised access, theft and potential financial issues,” he told ICMR members.