The National Computer Emergency Response Center (EG-CERT) and the Computer Emergency Response Center for the Financial Sector at the Central Bank of Egypt (EG-FinCIRT) succeeded in winning first place awards for the specialized exercises in the twelfth regional competition for cybersecurity for Arab countries and member states of the Organization of Islamic Cooperation, with the participation of Asian and Pacific countries. And Africa, in a step that reflects the distinguished level of Egyptian cybersecurity cadres at the state level in general and the banking sector in particular.
The competition was organized by the Arab Regional Cybersecurity Center (ITU-ARCC) during the Regional Cybersecurity Week, which was held in Muscat, Sultanate of Oman, under the title “The Impact of Cyber Threats on the Digital Economy,” with the participation of more than 600 representatives of the national information emergency response teams in the countries. Participation and national centers for cybersecurity from Arab and Islamic countries, where the proposed activities and scenarios focused on building the capabilities of response teams and enhancing communication among them to ensure effective response. To the increasing cyber threats, the event also targeted information security centers in basic sectors to ensure the protection of data and digital services in light of virtual attacks.
Dr. Sherif Hazem, Deputy Governor of the Central Bank of Egypt for the Cybersecurity Sector, said, “Cybersecurity issues have become a fundamental focus in the national security system of all countries of the world, especially with the increasing reliance on digital technology, which requires the readiness of the state with all its agencies, especially banking and financial institutions, to confront cyberattacks.” And cyber wars, and without a doubt, the distinguished results achieved by the Egyptian teams in the competition confirm that we are on the right path towards strengthening Egypt’s leadership in the field of cybersecurity, which increases confidence in the country’s digital economy and supports efforts to attract foreign investments.”
Dr. Ibrahim Mostafa, Assistant Deputy Governor at the Central Bank – Head of the Computer Emergency Response Center for the Financial Sector, explained that “The Central Bank of Egypt succeeded in establishing the first sector-based computer emergency response center in the Arab Republic of Egypt and qualifying promising cadres in the field of cybersecurity, to empower banks and institutions.” Finance can develop and grow in a safe and solid banking environment, by efficiently dealing with cyber incidents and Internet emergencies within the financial and banking sector, early prediction of security incidents, confronting them, and mitigating the risks. Its effects and preventing its recurrence.
During the competition, complex cyber attacks were simulated, the participants’ ability to confront them was tested, professional confrontation methods were applied, and their side effects were limited. The Central Bank of Egypt team was able to win first place prizes for the specialized maneuvers in which it participated, including, but not limited to, sniper rifles. Or hunt cyber threats (Threat Hunting), confront ransomware attacks (Ransomware attack Defense), analyze information security and malware (SOC Analyst Challenge: Advanced Memory & Malware CTF), and maneuver Joint data breach security between the International Telecommunication Union in the Sultanate of Oman and the FIRST-ITU Oman Data Breach CTF.
