Bangladesh Bank warns about alarming rise in cyber attacks on banks

The central bank – Bangladesh Bank – has asked the banks and financial institutions across the country to take different sorts of cautionary measures, citing an alarming rise in cyber attacks targeting banks. 

SM Tofail Ahmad, additional director of the central bank’s information and communication technology department, issued formal letters to the banks and financial institutions in this regard. 

In his letter, SM Tofail Ahmad noted that Bangladesh Cyber Security Intelligence (BCSI), in its regular monitoring and review, has uncovered illegal transactions on dual currency cards of some banks, through Facebook Ad Manager. These unauthorised transactions are reportedly affecting general customers as well.

It also noted that cyber criminals operating on social media platforms are increasingly harassing the bank clients. 

According to the central bank, incidents of cyber attacks on banks are increasing globally. The situation is alarming in Bangladesh, as the banks are frequently being subjected to cyber and malware attacks. 

Hence, the Bangladesh Bank asked the banks to adopt 17 specific measures to remain safe from the attacks.