SECP launches Security Operations Center to strengthen cybersecurity

The Securities and Exchange Commission of Pakistan (SECP) has recently established its Security Operations Center (SOC) to bolster its cybersecurity measures and operational resilience. According to a statement released on Tuesday, the SOC will monitor SECP's networks, endpoints, servers, and private cloud environments in real-time to detect and respond to cyber threats promptly.

The center, funded by Karandaaz Pakistan, is being implemented by the UK's Foreign, Commonwealth & Development Office (FCDO) through Inara Technologies and supported by REWTERZ under a Managed Security Services Provider agreement.

Founded by Lieutenant General Muhammad Munir Afsar, the chairperson of the National Database and Registration Authority (NADRA), inaugurated the SOC and commended SECP's efforts in cybersecurity. He emphasized the criticality of safeguarding digital assets in today's interconnected world.

In a separate meeting, SECP chairman Dr. Kabir Ahmed Sidhu provided Chairman Afsar with an update on SECP's ongoing IT reforms, infrastructure modernization initiatives, and plans to incorporate artificial intelligence and emerging technologies to enhance service delivery and streamline business processes. Dr. Sidhu also discussed the potential for SECP to establish a sector-wide framework for threat intelligence sharing and coordinated incident response amongst Capital Markets Institutions (CMIs).

This collaborative approach aligns with SECP's aspirations to serve as a Sectoral Computer Emergency Response Team (CERT) and SOC, ensuring a unified and robust cybersecurity posture for the financial sector.