Dubai, 31 March 2014:In recent months, there has been increasing concern regarding the threat of cyber crime and its risk to the global financial system. Numerous banks and financial institutions have in fact considered this threat as one of their top priorities. There are valid reasons for the banking community to be worried as incidents of cyber crimes have increased in recent years.
There are different types of attacks, depending on the motives of the attackers, usually falling under the four main threats – crime, hactivists, espionage and war. Due to on-going threats, financial community has called for a system-wide response to counter these threats.
Swissquote Bank is one of the banks adding its voice to a growing group of institutions calling for a stronger cooperation between critical sectors to limit the impact and eventually eliminate the threat of cyber attacks.
Mr. Mario Camara, CEO of Swissquote Bank MEA Ltd said,”We join the rest of the banking world in underscoring the importance of innovative measures to prevent and counter cyber-attacks against banks and other financial systems.”
Swissquote Bank is a leading provider of online financial services, offering its clients innovative solutions and analysis tools to meet their wide range of demands and needs. The bank has two offices in the UAE. One holds a Category 4 license from the DFSA and focuses on providing Swiss savings and trading accounts mainly to expats in the GCC. The second is a Dubai Branch office holding a Representative Office License from the UAE Central Bank, focused on future spot trading platforms.
“In addition to our excellent online services and our offer of immense breadth of financial products, we also offer state-of-the-art banking privacy and security that has become a trademark of Swiss banking anywhere in the world. Cyber crimes may have become sophisticated but so did our IT security systems,” added Mr. Camara
This in fact is one of the features of Swissquote Bank’s Expat Account which is being offered to at least 500,000 expatriates in the country, according to Mr. Camara. The Expat Account is offered with no minimum balance requirement and no account maintenance fee, and could also be used as a trading and multi-currency account.
Swissquote Bank takes further steps to ensure security of this product which offers attractive rates on cash and cards transactions, buying and selling of products such as equities, CFDs and bonds in all major financial markets which are done through their PC, tablet or smart phone.
The Bank also offers highly secured solutions in its electronic Private Banking (ePB) platform for Expat Account clients seeking higher yields through financial markets exposure and who want to have their assets managed. The ePB in addition offers clients the ability to choose the type of markets, industries and risk appetite for their portfolio.
For additional information, visit www.swissquote.ae