SAMA Compliance Consulting Services In Saudi Arabia
Build customer trust with a completely secure digital experience through SAMA Cybersecurity Framework compliance fulfillment
What is SAMA CSF ?
SAMA – The Saudi Arabian Monetary Authority, is the Central Bank of Saudi that regulates financial organizations in KSA. They issued certain guidelines for financial institutions to secure sensitive information assets and online services, called the SAMA Cyber Security Framework.
The purpose behind introducing this SAMA compliance regulation was to fortify the best practices followed by financial institutions and ensure that they followed the highest global security standards. This framework is comprehensive, and is a combination of several industry standards and government regulations across the world, including PCI DSS, NIST, Basel II, and ISO 27001/27002.
By implementing this SAMA Cybersecurity framework, organizations will be able to achieve a minimum level of security to safeguard against ever-increasing cyber security threats. The Saudi Central Bank has integrated the concepts of compliance and managing risk using science and technology to foster a cyber security culture with superior knowledge and awareness.
The Risk and Compliance Department of the bank has initiated several measures and controls to mitigate potential risks and continuously enhance the security culture, simultaneously improving compliance levels to bring them at par with international regulations. It is applicable to every financial institution that comes under the ambit of the Saudi Central Bank, and who are known as its member organizations.
Objectives and Scope of SAMA Compliance
The SAMA cybersecurity framework has been initiated to help SAMA regulated financial institutions to be equipped to deal with increasing cyber-security risks and protect sensitive information of their customers from falling into the wrong hands. The objectives are :Â
- To develop a consistent approach to address cybersecurity issues
- To attain a specific maturity level of cybersecurity controls
- To guarantee that cybersecurity risks are effectively managed – and these are for all member organizations.
The scope of the SAMA framework covers:
- Information in electronic and physical form
- All software, applications, databases, and electronic services
- Hardware like computers, ATMs, and other electronic machines
- USB sticks, hard disks, and other devices that store information
- Technical infrastructure like communication networks, equipment, and premises
Why SAMA compliance ?
Legal Compliance and Maximum Protection for Sensitive Customer Data
Extensive compliance fulfilment for SAMA IT governance framework helps you gain customer trust and provide a secure digital banking experience for your customers.
Wattlecorp enables you to focus on your core business activities that propel your growth, while we ensure compliance with the SAMA Cybersecurity framework. We offer complete SAMA compliance consulting by deploying tools and techniques including monitoring social media, ransomware data leaks, AI, and algorithms.
Our threat intelligence can help you become fully SAMA compliant and thwart cyber threats that could weaken your organization and damage your reputation. We have an excellent track record of helping financial institutions and SAMA member organizations to achieve the prescribed security standards and helping them conduct comprehensive internal audit to set up a more efficient information security framework.
Protection against Emerging Cyber Attacks and Threats
The Saudi Central Bank revises and updates the security standards regularly to ascertain that banks and other financial institutions are in step with the latest regulations and well-equipped to handle the ever-increasing and emerging security threats.
Be Legally Compliant and Up to Date
The Saudi Central Bank’s compliance assessment offers a detailed and thorough blueprint that can be replicated easily. The whole process can be documented easily and you can also refer to several online resources, eliminating the need to recreate it every time, saving significant time and effort.
Better Information Management and Enhance Company Reputation
In today’s competitive world, it is imperative that your brand has an edge over others. SAMA compliance not only boosts security with a thorough gap analysis, it is a strong indication of how much you value customer privacy. This increases your brand reputation substantially.
Our SAMA Consultancy Services in Saudi Arabia
Complete UAE IAR services towards securing your critical data
Identification of Critical Services
First of all, our SAMA experts identify the organizational assets and critical services
SAMA GAP Assessment
As the next step, our team conducts a Gap analysis to determine the information security measures existing in your organization.
Cyber Risk Assessment
The potential risks to privacy and data security are identified by referring to the SAMA guidelines and prescribed controls
CSF Controls Identification
The next step is determining the requisite cybersecurity controls that can help mitigate the potential risks, and will help in achieving SAMA Cyber Security Framework compliance.
Risk Treatment Plan
We then draw up a risk management or treatment plan to close the gaps and mitigate the risks, bringing them down to manageable levels.
Implementing Policies & Procedures
Our SAMA experts will draft the necessary policies of information security that will help you attain and maintain both security and privacy of data, and be in compliance with SAMA.
Security Awareness
It is essential to enhance security awareness among the employees to improve cybersecurity posture, as human beings are often the weakest link. We provide necessary training to improve awareness.
Technology Control Implementation
We also provide configuration advisory, which is guidance on how to remedy the technology gaps and to implement technical controls to improve the security architecture of the organization.
Management Controls
Our team helps with the implementation of management controls like operational controls in addition to physical security controls.
Security Testing
By conducting vulnerability assessments regularly and performing penetration testing, we help in the assessment of your security measures and recommend fixes.
SIEM & Incident Response
The Wattlecorp SAMA team is adept at SIEM solution deployment, management of security devices and round-the-clock security monitoring.
Managed Network Security
We provide managed security with robust firewalls, sophisticated UTMs, URL filters, web security, VPN, Wi-Fi security and secure remote access.
Data & Endpoint Security
Your organization can benefit from our services like mobile device management, endpoint security, patch management, and data loss prevention solutions.
SAMA Implementation Reviews
Verifying the efficacy of your SAMA compliance management is critical; to this end, we carry out progress reviews of the implementation.
SAMA Internal Audits
Conducting internal audits is valuable in ascertaining whether there are any deviations from the prescribed policies of information security of the SAMA framework, and to remedy such deviations.
External Audit Support
Our team helps the customer organization to meet the requisite SAMA cyber security framework mandates in the course of the compliance audit.
Why Choose Wattlecorp for SAMA Compliance Consulting?
- ISMS-certified auditors with over 10+ years of experience
- In-house Development: At Wattlecorp we do not outsource any of your important work to third parties, acknowledging the trust you have shown in us.
- Industry Expertise: Our teams have the requisite industry expertise, and have the capability to share pertinent insights and guide you to deploy the ideal measures to attain compliance with SAMA CSF standards
- Rich Experience: Your organization can leverage our adequate experience with helping organizations maintain compliance with various regulations
- Full support: Our SAMA compliance team will support you at every stage of the implementation, from the beginning to the end.
- Robust solutions: Our solutions are precise and well though-out, and easily fulfil your SAMA compliance needs
- Quick turnaround: Thanks to our expertise and standardized processes, we are able to deliver effective and superior solutions in the shortest possible time
- Detailed reports: We will provide detailed reports that include the results of the analysis and offer guidance to correct any mistakes and discrepancies.
- Continuous Evaluation: Our team will continue to monitor the system even after implementation, to make sure that you maintain compliance with SAMA regulations.
Budgeting for SAMA Compliance Consulation service in Saudi Arabia.
The average cost of a penetration test for a small, company can range from 30,000 SAR to over 300,000 SAR. Without sacrificing quality, Wattlecorp offers a variety of services that are suitable for everyone from startups to corporations.
Get a Tailored Quote
Get a quote for your SAMA Compliance consultation requirement. Or obtain a complimentary evaluation before investing in our services.
Security Auditing As A Service
Whether you are a startup investing for the first time or a large enterprise seeking to reduce the cost of continuous testing, you can take advantage of Wattlecorp's application penetration testing as a subscription service. Choose between one-time and unlimited manual application penetration testing for a one-time, monthly, or yearly fee.
100 percent Free. 100 percent Clear.
We offer free consultations for a limited time only to prevent the misuse of our consulting services. Our team is eager to identify opportunities to make your application secure, and our commitment to achieving this goal is constant. Utilize this complimentary consultation to determine your application security requirements. We would be delighted to discuss your security objectives. We welcome the chance to connect and explore opportunities to accelerate your journey to secure your applications.
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SAMA or the Saudi Central Bank issues the Saudi Riyal, the nation’s currency, supervises commercial banks, promotes stability of exchange rates, is in charge of foreign exchange management, and protects the growth and stability of the financial system in Saudi Arabia.
The SAMA frameworks applies to the following entities:
- All the banks that operate in KSA
- Every insurance company that operates in KSA
- Financing companies that conduct operations in KSA
- Every credit bureau that has operations in KSA
The SAMA framework is structured around 4 domains:
- Cybersecurity leadership and governance
- Cybersecurity risk management and compliance
- Cybersecurity operations and technology
- Third-party cyber security
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