KPMG, Fortanix and Gulf IT officials during the event at Four Seasons, Doha.
Doha, Qatar: Qatar’s top industry leaders convened to discuss issues about Payment Card Industry Data Security Standard (PCI DSS) 4.0 Compliance, and challenges encountered in the cybersecurity realm across the financial sector.
KPMG along with Fortanix and Gulf IT hosted a roundtable event, where experts stressed various perspectives shaping the regulatory landscape and the compliance for monetary institutions.
Speaking to The Peninsula on the sidelines of the event, Marwan Zalloum, Cyber lead for Financial Services said “We’ve addressed several different perspectives in this round table for financial services and institutions considering their challenges as well as the threats.”
He also stressed the security perspective ensuring that “It is really understood and then we delve deeper into the details of privacy requirements locally and have a holistic view of the global landscape as it relates to financial institutes.”
Numerous C-suite executives in the financial sector attended the event, enlightening them with pivotal insights and strategies to navigate the forthcoming updates to PCI DSS standards and emerging challenges in cybersecurity.
The discussions by market experts served as a significant platform for elucidating dynamic digital landscape impacting cybersecurity strategies.
Throughout the event, participants delved into current and important topics, ranging from the challenges in horizon scanning to structuring a sound compliance program that meets the various relevant standards. Notable highlights included insights on new requirements tailored to combat and mitigate financial fraud and an exploration of the ever-evolving digital landscape shaping today’s cybersecurity strategies.
In a press statement, Zeinab Fawzi Mohammed Khalifa, a Data Privacy & Security expert at KPMG in Qatar, commented on the significance of this exclusive session.
She said: “Our focus is to empower seamless compliance journeys and programs to enable regulatory and industry compliance requirements enhancing the security posture to meet the evolving threat landscape in the digital era. The adoption of PCI DSS 4.0 is a critical element in the commitment to enhance the security posture of the financial sector against sophisticated cyber threats. This roundtable has been an essential platform for leaders to converge and shape the security strategies that will safeguard the future of banking.”
Andy Buckland, EMEA VP and General Manager at Fortanix stated “Our discussions underscored the critical role of robust cybersecurity measures in establishing trust in today’s digital banking era. At the roundtable, Fortanix showcased how our innovative data-first security solutions can significantly bolster a bank’s competitive edge while securing critical assets.”
Nitin Bhatnagar, India, South Asia, and the Middle East at PCI DSS Security Council also added “Securing payment data with data security standards in an evolving payment ecosystem is critical to building robust payments infrastructure keeping security at the centre of everything.
PCI DSS v4.0 is a unique example of how the Council is evolving security standards and validation programs to support.
The experts’ talk emphasised reinforcing valuable partnerships and insightful exchanges among the leaders in attendance.
It also remarked on the vitality of strategic approaches in compliance and cybersecurity to steer the complexities of the current economic landscape.
