State Bank Issues Directions After Sudden Cyber Attack on Pakistani Bank
On Monday, Pakistan was on alert as the State Bank of Pakistan (SBP) issued instructions regarding bank cards after a cyber-attack wiped out over $6 Million in Pakistani rupees from Bank Islami Pakistan. The cyber attack on Pakistani bank has left many customers, bank owners, and citizens baffled.
According to SBP, Bank Islami customers are temporarily suspended from using the bank’s cards for overseas transactions after the attack.
The central bank released a statement after the incident, “As a result of security breach of payment cards of one of the banks in Pakistan yesterday and their unauthorized use on different delivery channels i.e. at ATMs and POS in different countries, the bank has temporarily restricted usage of its cards for overseas transactions.”
“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,” SBP added.
The SBP further issued directives to all Pakistani banks to ensure security of payment cards and to monitor their usage activity, especially overseas transactions, on a real-time basis.
SBP further instructed the affected bank to release necessary security instructions for its customers involving the the cyber-attack, on how to be careful, aware, and safe from any money scam.