Cybersecurity is the practice of safeguarding networks, devices, and data from unauthorized access or malicious activities while ensuring the confidentiality, integrity, and availability of information. Cybersecurity plays a critical role in protecting the technology environment within business entities through providing protection layers to prevent external cyberattacks by hackers or information leakage from inside the business entities by the employees.
All business entities in the State of Kuwait are required to implement the cyber security requirements in their business activities, in particular financial institutions, companies listed on Boursa Kuwait, companies licensed by Capital Markets Authority given their impact on the financial market. In a relevant context, there are other industries, e.g., private hospitals, universities and schools, in which information is the fuel of business, requiring special cyber protection.
In this respect, the Central Bank of Kuwait (CBK), being the regulator of financial institutions, developed the Cyber Security Framework and requires such financial institutions to observe it. Further, CBK requires the regulated entities to appoint third-party independent audit firms to audit the extent of compliance with such framework to ensure that baseline cybersecurity controls exist.
In this context, Baker Tilly provides the following services:
