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Banks are evolving to cyber security needs, says PBA

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.

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