BOV leads the discussion on cybersecurity for modern businesses

Bank of Valletta recently hosted a very well-attended seminar for business representatives, focusing on one of today’s most pressing concerns – cybersecurity. This event was designed to equip business leaders with essential knowledge and tools to protect their operations from the growing risks of fraud, scams and digital attacks.

In his opening remarks, BOV CEO Kenneth Farrugia described the event as the first of its kind for Bank of Valletta, underscoring the Bank’s commitment to supporting the business community beyond the provision of financial services. “Cybersecurity is no longer just an IT concern. It is a business risk that demands attention across all sectors,” he said.  “The evolution of technology has changed the way companies operate, but it has also enabled cybercriminals to become more sophisticated, exploiting advancements in artificial intelligence and machine learning.”

Mr Farrugia stressed the role of education and awareness in building a strong first line of defence. “Cybersecurity is one of BOV’s key initiatives. We are committed to safeguarding our systems, our people, and most importantly, our customers.”

Organised by the Bank’s Business Development and Customer Value Unit, the seminar covered real-life examples of cyber incidents – from phishing emails to AI-driven fraud. BOV specialists in Payments, Cards, and Information Security delved into several critical areas. The speakers offered practical strategies to strengthen information security and defend against fraud. Attendees were also given tips on how to identify common scam tactics and implement safeguards to protect outgoing payments.

With the rise in digital transactions, businesses face increasing threats, including bank impersonation scams. These often involve criminals posing as bank employees to deceive victims into disclosing sensitive financial information. The seminar highlighted the importance of recognising red flags, adopting strong security protocols, and fostering a culture of cyber awareness within teams. The event concluded with an interactive Q&A session, giving attendees time to raise real concerns and get expert advice on shielding their businesses from cyber threats.

Bank of Valletta urges anyone who suspects that they may have fallen for a scam to report it by calling +356 2131 2020.