Cyber Concerns: Experts Warn of Election-Era Attacks
Faiz Ahmad Taiyeb, Special Assistant on Posts and Telecommunications to the Chief Adviser, has warned of potential large-scale cyberattacks ahead of the upcoming election.
Speaking at a seminar on cybersecurity for financial institutions held on Tuesday, 19 August, at a hotel in Dhaka, he expressed his concerns.
Faiz Ahmad Taiyeb said, “Ensuring cybersecurity in the banking sector ahead of the elections is a major challenge. Only about 17–20 banks in the country have a satisfactory cyberspace rating. Citizens’ data often remains insecurely exposed, and some bank officials are even involved in cyber crimes.” He called on all stakeholders to reconsider and strengthen cybersecurity measures.
He further highlighted, “Financial fraud, gambling, lack of software updates, vulnerabilities in file transfer protocols, DDoS attacks, and data center risks now pose significant threats to the banking sector.”
Delivering the keynote address, Dr. Anisuzzaman Chowdhury, Special Assistant to the Chief Adviser on Finance, emphasized the need to enhance existing cybersecurity systems and raise awareness through public-private partnerships.
Nazma Mobarak, Secretary of the Financial Institutions Division, stressed strengthening training in state-owned banks and improving coordination between IT and business units.
NBR Chairman Md. Abdur Rahman Khan proposed facilitating tax collection through data sharing with banks. Meanwhile, CID Chief Md. Shibgat Ullah revealed that 884 cybercrime complaints have been lodged since January 2025, with banks’ reluctance to pursue cases hindering investigations.
Representatives from BRAC Bank, IFIC Bank, and City Bank participated in discussions on resolving technical challenges and shared opinions on effective measures.
The seminar was chaired by Shish Haider Chowdhury NDC, Secretary of the ICT Division, who stated, “Ensuring cybersecurity in financial institutions is not only critical for securing the digital future but also for maintaining public trust and the stability of the financial sector.” Heads of various ICT departments and key stakeholders attended the seminar.
In line with these concerns, last month Bangladesh Bank issued a cautionary notice to banks, financial institutions, and digital payment providers, warning of possible cyberattacks.
The notice, issued by the Information and Communications Technology (ICT) Department of Bangladesh Bank, stated, “In the coming days, the country’s critical information infrastructure (CII), banks, financial sectors, healthcare, and both public and private institutions are at risk of cyberattacks. Various sources have indicated such threats.”
It further instructed banks, financial institutions, and payment service providers to urgently implement necessary cybersecurity measures to prevent small- and medium-scale cyberattacks.
