Banks are evolving to cyber security needs, says PBA

Published November 8, 2018
Media reports say sensitive data on customers was stolen from around 10 banks. — File photo
Media reports say sensitive data on customers was stolen from around 10 banks. — File photo

KARACHI: Pakistan Banks’ Association (PBA) has noted that the banks are continuously developing, strengthening and implementing risk-based controls in their environments to avoid exploitation of customers’ data.

The association representing Pakistan’s banks said that the sector is moving towards the digital era and continue to consider potential risks and threats.

The statement comes after media reports alleged that sensitive data on customers was stolen from around 10 banks after BankIslami shut down its card payment systems following attacks from hackers.

The association said that State Bank of Pakistan’s (SBP) guidelines to ensure cyber security issued last year are comprehensive and cover all aspects of technology.

“The PBA, in its endeavor to support the industry as well as SBP, had already established a dedicated forum for cyber security,” it added.

The PBA advised the banking customers not to respond to requests for their confidential and personal information via various channels including email (with or without embedded links), phone calls etc to protect themselves against any identity theft or fraud.

Published in Dawn, November 8th, 2018

Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

IMF package
Updated 28 Jan, 2023

IMF package

While it is crucial to seek immediate IMF funding to shore up its reserves, the govt shouldn’t focus only on short-term relief.
Dar unpegged
28 Jan, 2023

Dar unpegged

IT is over. Nearly four months after Ishaq Dar descended on the cash-strapped economy with some decidedly outlandish...
Lurking hazards
28 Jan, 2023

Lurking hazards

OVERSIGHT of illegal industrial activity occurring within residential areas in the country is weak, especially in...
Election time
Updated 27 Jan, 2023

Election time

There are concerns whether the ECP will be sufficiently able to protect the integrity of elections if they are held under partisan governments.
SCO invite
27 Jan, 2023

SCO invite

THOUGH India’s invitation to Pakistan to attend the Shanghai Cooperation Organisation events in Goa later this ...
Call to arms
27 Jan, 2023

Call to arms

ONE way the state abdicates responsibility in Pakistan is by farming out its functions to the private sector. In ...