Bahrain, Saudi Arabia
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Jul 16, 2021
VirtuThinko Introduces New Technology Solutions to Enhance Cybersecurity
Table of Content
Launching New Cybersecurity Solutions
VirtuThinko has announced the launch of a comprehensive suite of advanced cybersecurity solutions aimed at strengthening electronic and cyber defenses in accordance with insurance companies' requirements for digital breaches and cyber-attack incidents.
Supporting Financial and Corporate Sectors
CEO Mahmood Aladraj explained that the solutions package assists businesses, banks, and financial institutions in protecting their systems and networks from growing digital threats. He emphasized that cybersecurity requirements are rapidly evolving, necessitating that organizations constantly update their protection measures to meet both regulatory expectations and insurance standards for cyber incidents.
Rising Cyber Insurance Requirements
According to international insurance experts, cyber-insurance costs for protecting organizations from threats and cybercrimes have increased by nearly one-third over the previous year. According to Aladraj, insurance providers now require greater assurance that businesses have strong systems and procedures in place to prevent cyber incidents. He emphasized that VirtuThinko collaborates closely with national insurance companies to provide cybersecurity packages that are completely compliant with their policies and coverage requirements.
Comprehensive Cybersecurity Offerings
The CEO stated that the company provides integrated solutions such as cybersecurity consulting, penetration testing, threat hunting and management, and infrastructure security. Cyberattacks are typically intended to access, alter, or destroy sensitive information, steal money, or disrupt normal business operations, making effective cybersecurity a critical requirement. He also stated that implementing these measures has become increasingly difficult due to the sheer number of devices compared to users and the growing sophistication of attackers.
Alignment with Bahrain’s Cybersecurity Regulations
Aladraj also referenced the Central Bank of Bahrain’s recently issued cybersecurity risk-management requirements for both conventional and Islamic banks. These include clearly defined roles for boards and executive management, the establishment of cybersecurity strategies and policies, risk-assessment procedures, incident detection and response, cyber-insurance requirements, training and awareness, and regular reporting to the Central Bank of Bahrain.
Credits
Leading Transformative Technology Solutions and Services Company
About VirtuThinko
Solutions
Office Information
Office 13, Building 2383, Road 3643 Block 436 Seef Area, Bahrain
(+973) 7799 0006
Building 8625, Street 1B, Secondary No. 5130, Al Firdaws Dist. Postal Code 34251 Dammam, Kingdom of Saudi Arabia
