Banking on Alert: Bangladesh Bank Warns of Possible Cyber Threats to Financial Infrastructure
The Bangladesh Bank has issued a formal warning regarding potential cyber threats to the country’s digital financial infrastructure. In a letter dated July 30 (Wednesday), the central bank alerted all scheduled banks, financial institutions, payment service providers (PSPs), payment system operators (PSOs), and e-payment gateways, advising them to take immediate precautionary measures.
Signed by SM Tofael Ahmed, Additional Director of the central bank’s ICT department, the circular outlines 15 specific directives aimed at minimizing the risk of cyberattacks.
As part of preemptive risk management, institutions have been asked to update server patches and databases, shut down unnecessary ports, ensure data encryption, and verify the functionality of backup and restore systems.
The letter also calls for heightened monitoring of login activity, detection of unauthorized file or data modifications, and scrutiny of external system connections. Institutions have been instructed to implement all necessary technical safeguards to counter internal and external threats.
Furthermore, in the event of observing any indicators of compromise suggesting a potential cyberattack, organizations must act promptly and notify Bangladesh Bank immediately.
This alert comes at a time of increasing global concern about digital security in the financial sector.
