In the latest developments surrounding Fawry’s alleged security breach, the company has released the findings of a meticulous examination conducted by Group-IB, a globally recognized cybersecurity firm. The results of this examination affirm that Fawry’s systems, serving both individual and institutional clients, remain secure with no signs of breach or data leakage.
Fawry, a leading e-payments solutions provider in Egypt, took a proactive step by enlisting Group-IB to conduct a thorough examination of its systems and applications. The multinational cybersecurity firm’s comprehensive review of the infrastructure supporting Fawry’s applications has provided assurance that the company’s security measures are robust and effective.
Group-IB’s affirmative findings have been promptly communicated to regulatory authorities, and Fawry expresses gratitude for their collaboration throughout the inspection process. In light of these examinations, Fawry reassures its users that no data related to cards used in its applications or any financial transactions, whether for individuals or institutions, has been compromised. The company emphasizes that its applications remain entirely safe for use.
Addressing a recent incident, Fawry acknowledges the temporary suspension of the myFawry application, attributing it to an unprecedented surge in customer demand that exceeded the application’s capacity. Fawry assures its customers that a measured and composed approach is being taken to restore normal functionality to all applications promptly.
In an additional commitment to user security, Fawry pledges to conduct thorough verification procedures regarding information circulated on various websites. This verification will only proceed after ensuring the absolute integrity of the infrastructure supporting applications for individuals and institutions.
Read also : Egyptian FinTech Fawry Faces Alleged Security Breach as Cyber Attack Raises Concerns
As Fawry and Group-IB collaborate to address concerns and fortify security measures, the unfolding situation will continue to be closely monitored. Updates will be provided as the company works towards full restoration and verification of its systems.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard