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Cybersecurity Assessment for a Leading Bank in a GCC Country

Industry

  • Banking
  • Fintech

Country

  • GCC

Cooperation Type

  • By Estimate

Project Type

  • Cybersecurity Assessment

Type of Service

  • Cybersecurity Testing
  • Risk Consulting

Test Coverage

Overview

The client* is a major bank that operates in one of the countries of the Cooperation Council for the Arab States of the Gulf (also known as the Gulf Cooperation Council or GCC). It uses a complex technical and HR infrastructure and is a target for hackers per se, the quick pace of innovation creates a potential gap between the required level of security and the capability to counter such risks.

* We recognize the importance of protecting our clients’ privacy and follow the policies to maintain their confidentiality and security. That is why the company name will not be disclosed.

Challenge

The client needed to evaluate its company’s level of cybersecurity maturity. This required accessing the organization’s technological and human factors to prepare an effective strategy for early addressing and preventing potential risks. It was necessary to provide communication and tools that non-technical top-level managers would easily understand.

The client needed to evaluate its company’s level of cybersecurity maturity. This required accessing the organization’s technological and human factors to prepare an effective strategy for early addressing and preventing potential risks. It was necessary to provide communication and tools that non-technical top-level managers would easily understand. Our security testing services are designed to identify vulnerabilities across both technical systems and organizational processes.

Solution

  1. Gap assessment audit to identify and evaluate the current state of the bank’s cyber security posture. The purpose was to identify gaps and vulnerabilities in the security controls with further recommendations for improvements.
  2. Risk management consulting to identify, assess, and manage potential risks that could impact business operations. The goal was to help the bank develop strategies to minimize potential losses or disruptions to its operations, assets, and reputation.
  3. External penetration test to evaluate the security of the external-facing systems and networks from the perspective of a potential attacker. The goal was to identify security weaknesses a malicious actor could exploit to gain unauthorized access to the organization’s sensitive data, systems, or applications.
  4. Internal penetration test to evaluate the security of internal systems and networks. The goal was to identify vulnerabilities and security weaknesses that could be exploited by a malicious insider or an external attacker who had gained unauthorized access to the bank’s internal network.
  5. Phishing attack simulation to evaluate vulnerability to phishing attacks. The goal was to check the reaction and response of the bank’s employees to fraudulent emails or messages that aim to compromise the security of their devices or networks.

Results

  • The client received a roadmap outlining a series of projects to enhance the organization’s cybersecurity defense and the related expense calculations.
  • The cyber security risk map was prepared, featuring 70+ major risks with the estimated cost of potential losses of about $10+ mln.
  • Technological weaknesses were revealed with penetration tests. The recommendations to address all identified vulnerabilities were provided.
  • The importance of the human factor in cyber security was underscored: over 15% of employees fell for phishing attacks. The need for comprehensive awareness training programs was highlighted.

QA Madness delivered a structured, executive-ready security roadmap that enabled the bank’s leadership to prioritize investments and address critical vulnerabilities before they could be exploited.

This engagement reflects QA Madness’s experience working with regulated financial institutions where security, confidentiality, and compliance are non-negotiable. The assessment methodology and findings were presented directly to the bank’s executive leadership team.

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