CWG and Mag Tech educate financial institutions on cyber threats in Nigeria

computer security aperture lag flickrFinancial institutions across Lagos have been prone to cyber attacks and threats, amounting to losses. (Image source: Aperture Lag/Flickr) The importance of cyber protection in financial institutions was brought to light through a session titled Security Operations Centre (SOC) - Financial Services in the Cyber Attack Era in Lagos, Nigeria

Africa-based technology company Computer Warehouse Group (CWG PLC) and security and intelligence company MAG Tech organised this session where decision makers of financial sectors in banks deliberated on Security Operations Centre (SOC).

Security Operations Centre (SOC) is a centralised unit in an organisation that enables financial institutions safeguard themselves against cyber attacks and threats, according to speakers at the session.

James Agada, chief technology officer of CWG, said, “Product and product knowledge are not adequate to achieve the end result of any business solution, and hence the need for the new concept, which is centered on how to detect and react to fraudulent transactions.”

Agada added that 50 per cent of the transactions in the industry were running on servers that are managed by CWG’s seasoned and trained engineers.

“Our aim is to ensure that these skills are internalised in Africa as information security is crucial to us and our customers,” Agada stated. 

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