ABA Bank Gains Elite Cybersecurity Card Certification PCI DSS

[CEOCambodiaNews]

LGMS secures cybersecurity milestone in SEA with Cambodia's largest commercial bank
By NST Business - August 4, 2023 @ 4:28am

KUALA LUMPUR: LGMS Bhd, one of Malaysia's and Southeast Asia's leading cybersecurity companies, recently facilitated Cambodia-based ABA Bank's certification of the international payment card industry data security standard (PCI DSS).

ABA Bank, a subsidiary of the National Bank of Canada, is Cambodia's largest commercial bank with the most substantial assets, deposits, loans and profitability, based on the National Bank of Cambodia's 2021 Annual Supervision Report.

"The attainment of the PCI DSS certification not only underscores ABA Bank's commitment to ensuring the highest security standards for online transactions and customer data protection but also attests to the quality of LGMS' services," said LGMS chief operating officer Gilbert Chu.

This certification places ABA Bank within an elite group of global financial institutions committed to safeguarding cardholder information.

The process required a stringent audit conducted by LGMS, a qualified security assessor (QSA), of ABA Bank's systems, policies and procedures to demonstrate full compliance with rigorous international PCI DSS requirements.

"This esteemed certification is a testament to ABA Bank's dedication and LGMS' expertise as a QSA," added Chu at the recent official handover ceremony for the certificate of compliance completion.

"Together, our shared commitment to security has ensured the highest level of protection for online transactions and sensitive cardholder data. ABA Bank's trust in our services further reinforces LGMS' commitment to providing top-tier cybersecurity solutions and securing our client's valuable data," he said.

Meanwhile, the bank's chief information officer Galymzhan Temirov described the PCI DSS certification as 'representing ABA Bank's unwavering pursuit of excellence in secure financial services.'

"Our significant investment in technology and robust security measures has been key to protecting our customer data," he said.

This development highlights the growing importance of stringent cybersecurity measures in the financial sector and positions LGMS as a key player in supporting and advancing this field across the region.

"ABA Bank now ranks among an elite group of global financial institutions dedicated to protecting cardholder information.

"Achieving this certification, following a stringent audit by LGMS, signals ABA Bank's unwavering commitment to upholding the highest standards in online transaction security and customer data protection," added Temirov.

This collaboration between LGMS and ABA Bank has significant implications for Southeast Asia's cybersecurity landscape.

"As cyber threats continue to grow in scale and sophistication, robust cybersecurity measures are crucial in maintaining trust and confidence in digital transactions," said Chu.

On LGMS' strategic plans for regional expansion in neighbouring countries such as Cambodia, Singapore and Vietnam, Chu said that market trends and the increasing demand for cybersecurity services continue to drive LGMS' growth strategy.
https://www.nst.com.my/business/2023/08 ... rcial-bank