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
