Data Breach Preparedness and Response: Mitigating Risks and Restoring Trust in Financial Institutions

Date: Wednesday 20th November, 2024 | 10:30 am - 11:30 am CAT

Panel Title: Data Breach Preparedness and Response: Mitigating Risks and Restoring Trust in Financial Institutions

Introduction/Session Overview: 

In today’s interconnected digital landscape, data breaches have become a pervasive threat, particularly in financial institutions where sensitive customer information is at stake. The 6th Privacy Symposium Africa recognizes the critical need to address this issue head-on, considering the escalating frequency and sophistication of cyberattacks targeting financial systems. This panel seeks to delve into strategies for data breach preparedness and response, emphasizing the importance of mitigating risks and restoring trust in financial institutions.

Importance of the Panel: 

With the exponential growth of digital transactions and the increasing reliance on technology in financial services, the potential consequences of data breaches in this sector are immense. Beyond financial losses, breaches erode consumer confidence, damage reputations, and can lead to regulatory penalties. In light of recent high-profile breaches, the urgency to strengthen defenses and enhance response mechanisms in financial institutions has never been greater. This panel aims to provide insights, best practices, and practical solutions to safeguard sensitive data, bolster cybersecurity frameworks, and rebuild trust in the wake of a breach.

Outcomes

Identify common vulnerabilities and threats faced by financial institutions regarding data breaches

Discuss best practices and strategies for data breach preparedness, detection, and response.

Highlight the importance of collaboration between financial institutions, regulators, and cybersecurity experts in combating data breaches.

Provide actionable insights and recommendations for strengthening cybersecurity frameworks and restoring trust post-breach.

Foster knowledge exchange and networking among stakeholders to collectively address the challenges posed by data breaches in the financial sector.

Session Format

  1. A) Introduction by the moderator (5 minutes)
  2. B) Panelist presentations on key challenges and opportunities (10 minutes each)
  3. C) Moderated discussion among panelists (15 minutes)
  4. D) Q&A session with the audience (15 minutes)
  5. E) Closing remarks by the moderator (5 minutes)

Speakers

Livhuwani Maswielelo

Regional Privacy Officer | PayU Africa

Rosemary Koech-Kimwatu

Head of Data Protection | KCB Group

Mutsa Mabhande

Group Head of Information Systems Security, Governance, and Compliance | CBZ Holdings

Lori Baker

Member of the Editorial Board of the Journal of Data Protection and Privacy

Charles Otiang`a Owiti

Advocate, High Court of Kenya | Patent Agent & ICT, Data Expert

Kelvin Sabao

Advocate | Titan Law, Zimbabwe

Gilbert Ouko

Director of Anti-Financial Crime & Compliance at Diligence Advisory Africa