SBP Termed News of Data Hacked from Banks Misleading

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SBP

It has been informed by the State bank of Pakistan that, no evidence has been acquired or information provided to central bank or law enforcement agencies by banks that they are being hacked. And also some channels are misguiding masses that data from the majority of the banks have been breached.

The only event that happened on October 27th, 2018, when IT security of bank was compromised since then no incidence has taken place, said the central bank.

It has been advised by State bank of Pakistan to all banks to ensure the security of their information held and any threat should be identified and diffused in coordination with international payment schemes.

In addition to the above, some banks are putting further precautionary measures in place while others are confident of the security of their systems and continue to make all card transactions fully available to their customers.

The precautionary measures by some banks include partial restrictions, such as requiring customers to seek prior approval for use in cross-border transactions; or in a few banks, a total restriction on cross-border transactions.

However, the SBP has been assured that all these temporary; restrictions would be lifted once appropriate IT security measures are in place. SBP states that it is stressed that all restrictions pertain only to cross-border transactions, and no bank should impose any restriction on domestic transactions.

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