‘Cyber Connect 2024’ held in Kathmandu

Industry Desk: Cyber Connect 2024, a groundbreaking Cybersecurity Event, recently convened at the prestigious JW Marriott in Kathmandu, Nepal. The event was a combined synergized initiative of Genese Solution and NBA (Nepal Bankers’ Association) with AWS (Amazon Web Services) as the Title Sponsor. The event, held on 30th May, brought together leading experts and thought leaders to explore cutting-edge developments, challenges, and solutions in the realm of cybersecurity.

The event started with the opening remarks by the emcee Ms. Sugharika KC, followed by the welcome remarks from the Director of Genese Solution, Sri Prasad Bhandari. While, Prabesh Poudel, Coordinator of the ISO Committee, set the tone for an enlightening discourse ahead.

Niranjan Kunwar, a leading cyber security expert, spearheaded a thought-provoking discussion on quantum computing and its implications for cybersecurity. His insights illuminated the audience on the evolving threatscape and the imperative for innovative defenses.

Following this, Caroline Soo, Vice President of Customer Success at KnowBe4, APJ, delivered a captivating presentation titled “How our Thoughts and Actions can be hacked and hijacked”.The presentation shed light on the psychological dimensions of cybersecurity, highlighting the need for heightened awareness and resilience in the face of modern-day threats.

The event continued with Abhinav Saxena, Head of Commercial Sales, North India and Nepal, Palo Alto Networks, addressing the crucial topic, “Securing a Resilient Financial Services Enterprise”. His expertise provided invaluable perspectives on safeguarding critical infrastructure in an increasingly digitized financial landscape.

A panel discussion on “Cyber Risk Management” served as the focal point of the event, with experts delving into the unique landscape of cybersecurity in Nepal. This discussion was conducted by the session moderator Hempal Shrestha. The key speakers in the panel discussion were Sujit Shrestha, Chief Technology & Operations Officer, Standard Chartered Bank Nepal Ltd, Vivek Rana, Director, Nepal Bank Ltd., Abhinav Saxena, Head of Commercial Sales, North India & Nepal, Palo Alto Networks, and Neelesh Man Pradhan, CEO, Nepal Clearing House Ltd (NCHL). The panelists explored emerging threats, regulatory frameworks, and the pivotal role of cybersecurity solutions in mitigating risks and safeguarding digital assets.

Vivek Rana rightfully stated, “We’re investing in machines and not in people and how will the core banking combat the future risks of cyberthreats integrating itself into one big entity?”

While, Nilesh Man Pradhan explained the effort NCHL is putting in to safeguard Banks against fraudulent transaction risks, stating –

“The commitment we’ve given as a scope of the NPS project and with the initiation of a multi-entity based application, it can provide Banks with the fraud risk safeguard mechanism as a service from NCHL”.

The panel discussion ended with the conclusion that the regulatory policies regarding Cybersecurity are still in their nascent stage and there is a huge void in terms of security collaborations amidst the industries in Nepal. The concluding speech was addressed by Kapil Gautam, Senior Research Officer at NBA (Nepal Bankers’ Association).

The event culminated with final closing remarks by Mr. Anjani Phuyal, CEO of Genese Solution, encapsulating the key takeaways and reinforcing the commitment to collective efforts in fortifying cybersecurity resilience.

Anjani Phuyal thoughtfully stated one of the historical facts, “We must not forget how a Bank was affected by Cyber Threat in 2016 in Bangladesh, and similarly a Bank in India was adversely impacted in 2018”, reinstating the critical significance of Cybersecurity in the Banking and Financial Sector.

Cyber Connect 2024 exemplified a convergence of expertise, innovation, and collaboration, paving the way for a more secure digital future. As organizations navigate an increasingly complex threat landscape, events like Cyber Connect serve as vital platforms for knowledge exchange, strategic insights, and forging partnerships to address evolving cybersecurity challenges.