CFSL Integrated Report 2022

| CIM FINANCE. INTEGRATED REPORT 2022 72 RISK MANAGEMENT REPORT RISK PRIORITIES KEY ACTIONS WE ARE TAKING RISING CYBERSECURITY RISKS AND TECHNOLOGY-RELATED RISKS IN GENERAL In the context of our digitalisation strategy and vision, we are conscious of the risk posed by increasing cyber attacks. The heart of our existence lies in our IT systems and communication infrastructure. This reliance can heavily impact business operations if key systems are down, or if the network is unavailable. • We are continuously maturing up our existing cybersecurity programme to strengthen our detection capabilities, hence improving our resilience to threats and vulnerabilities. • Our application ecosystem is continuously being refreshed with more performing systems to allow for enhanced resource optimisation, a better turnaround time and sustainable controls, allowing a forward-looking vision to adapt to evolving business strategy. • Our dedicated IT Security Team acts as a security tollgate for all major deployments into production. • Our existing cyber-liability insurance cover has been strengthened this year to provide additional safeguards in protecting infrastructure and data assets. • We have created further redundancy in our connectivity lines with the acquisition of our own static public IP address. THREATS TO THE CONTINUITY OF BUSINESS Inaworldof evolvinguncertainties, the roleof business continuity isno longer anoption. The aftermath of Covid-19 has bolstered business continuity requirements across all functions of the organisation. • Business Continuity plans are continuously updated whenever there are changes to the organisational structure, processes or resources. • Continuity and resiliency conversations are being integrated as part of any major project or undertaking. • We have implemented ‘WhatsApp for Business’ and ‘Video-KYC’ as part of our service offerings to ensure continuity in our services and to offer a digital option for interacting with our clients. • We continue to evolve our payment app ‘MoFinans’ by providing a convenient digital payment platform to clients, enabling them to avoid physically visiting our counters. We have recently also integrated an instant payment technology to provide for a faster and more seamless payment experience. CFSL has embarked on a digitalisation journey not only to enhance the customer experience, but also to offer sustainable services to our client base, the aim being to embed the business continuity strategy into business-as-usual, where client interactions can be performed without any degradation in service or without affecting our risk posture. 4. OUR CURRENT RISK PRIORITIES (continued)

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