State Bank Issues Instructions After Cyber Attack

A number of instructions are issued by The State Bank of Pakistan (SBP) to a number of banks after one of the private banks system came under a cyber-attack. Subsequent to the immense attack through which millions of rupees were withdrawn via bank cards, the SBP provisionally suspended the use of affected bank’s cards for overseas transactions.

The State Bank said in a statement that the bank has temporarily restricted usage of its cards for overseas transactions for the security breach of payment cards and their unauthorized use on different delivery channels i.e. at ATMs and POS in different countries.

“The State Bank has instructed the bank to take all necessary measures to trace the vulnerability and fix it immediately. The affected bank has also been instructed to issue advisory on precautionary measures to be taken by customers,” it added.

The central bank further directed all other Pakistani banks to certify security of payment cards and to observe their usage activity, particularly overseas transactions, on a real-time basis.

The bank, which came under online attack, was also mainly instructed to issue essential security instructions for its customers in the wake of the cyber-attack.

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