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KUALA LUMPUR: Bursa Malaysia-listed LGMS Bhd has penetrated the Cambodian banking market by helping ABA Bank to secure the international Payment Card Industry Data Security Standard (PCI DSS) certification.
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.
LGMS is one of Southeast Asia’s leading cybersecurity groups with a presence spanning 127 offices in 63 countries and 26 offices across 15 Asia-Pacific nations.
LGMS chief operating officer Gilbert Chu, who was in Phnom Penh recently for the certification, said in a statement today that the attainment of the PCI DSS certification not only underscored ABA Bank’s commitment to ensuring the highest security standards for online transactions and customer data protection but also attested to the quality of LGMS services.
He said this certification placed 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.
Chu said as cyber threats continued to grow in scale and sophistication, robust cybersecurity measures were crucial in maintaining trust and confidence in digital transactions.
ABA Bank chief information officer Galymzhan Temirov described the PCI DSS certification as representing the bank’s unwavering pursuit of excellence in secure financial services and upholding the highest standards in online transaction security and customer data protection.
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 continued to drive LGMS’ growth strategy.
“As more organisations prioritise corporate security and shift towards cloud computing, the demand for specialised cybersecurity services – including vulnerability management, incident response, digital forensics and cybersecurity consulting – has continued to surge,” he said.
In April this year, Mitsui & Co Ltd, one of Japan’s most diversified conglomerates, became a substantial shareholder in LGMS with a 25 per cent equity interest.
Chu said following LGMS’ strategic partnership with Mitsui, the company has embarked on an aggressive expansion drive in Southeast Asia to meet the region’s ever-growing demand for cybersecurity services. – Bernama
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