Bangladesh Bank has warned that financial institutions including banks are at risk of cyberattacks. That said, malware like the banking Trojan Trickbot can steal an organization’s financial details, account credentials, and personal information—a risk that’s greatly increased.
Based on information received from the National Security Agency, the central bank has asked all financial institutions to enhance their security against malware and viruses. The letter requested the banks and NBFIs to maintain regular patch updates of ICT systems, licensed software and other solutions, regular testing to assess system vulnerabilities, round-the-clock monitoring and storage backups to enhance cyber security.
Banks and NBFIs have been asked to inform the central bank about recent incidents of malware attacks and initiatives taken by July 13.
Besides, in the letter signed on July 10, the details of the initiatives to protect against cyberattacks are to be given to the Central Bank by July 20.
According to sources, this letter has come from the central bank after the cyberattack on Bangladesh Krishi Bank’s server last month. A hacker group known as ALPHV or BlackCat broke into the servers of the state-owned bank and stole more than 170 GB of sensitive data.
The attack went undetected for 12 days. As a result, hackers got enough time to steal valuable bank information. That month, hackers stole the personal information of more than 50 million citizens from the website of the Registrar General’s Office for Registration of Births and Deaths.
According to experts, cyberattacks are a constant threat in Bangladesh due to lack of awareness among individuals and businesses about cyber security.
