Information space security is an essential part of the national economy and security system, while the state is committed to taking the necessary measures to preserve it, as regulated by the Constitution in Article 31 thereof.
Mohamed Al-Ghatrifi, an insurance broker, said that the state established the Egyptian Center for Internet and Computer Emergency Response (the Supreme Council for Cybersecurity) affiliated with the Ministry of Communications and Information Technology in Egypt, which is responsible for responding to computer and information security incidents, providing support, defense and analysis in the field of cyber attacks and cooperating with government bodies. Finance and sectors concerned with critical information infrastructure, it also provides early warning against the spread of malware and massive cyber attacks against communications infrastructure in Egypt.
He stressed the need for all institutions and sectors to secure their electronic transactions in the future against hacking, especially in light of the expansion and reliance on technology and the Fourth Industrial Revolution. Al-Ghatrifi stressed the importance of insuring against electronic attacks targeting banks against the risks of this type of attack, while establishing implementation mechanisms, as they have a large database and perform a large number of data transfers daily, to preserve customer balances, such as in various countries of the world.
He pointed out that the Insurance Federation seeks in the coming period to study the various coverages for this important type of insurance in its technical committees, with the aim of providing models to cover its risks, exchange knowledge, and spread and enhance the culture of awareness in the field of cyber insurance.