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Home Breaking News

Govt issues financial sector cyber security advisory as threats rise

byCT Report
07/03/2024
in Breaking News, Islamabad, Latest News
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ISLAMABAD: The Government of Pakistan has issued a cyber-security advisory titled “Pakistan’s Digital Blackout — Fake Propaganda and Response Initiative at Financial Sector” to address the escalating cyber threats faced by the nation’s critical information infrastructure (CII).

The advisory emphasizes the crucial role of a resilient national cyberspace and CII in safeguarding national security and economic stability. It underscores the urgent need for a robust framework to protect against cyber-attacks, as Pakistan’s CII remains vulnerable due to inadequate implementation of cyber security measures and best practices.

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In recent incidents, Indian hacker groups such as “Vanguard” and “UCC Error 404 Team” have claimed responsibility for cyber-attacks on Pakistan’s.gov.pk domain and critical websites, including those of the government, defense, aviation, and banking sectors. These attacks have been accompanied by false propaganda, causing disruption and confusion among government agencies, educational institutions, and public services.

Analysis of the dark web indicates an ongoing threat from multiple hacker groups targeting Pakistan’s financial and banking sectors. In response, the government urges all federal ministries, divisions, and the State Bank of Pakistan (SBP), in collaboration with the Ministry of Finance and the banking sector, to implement robust cyber security measures.

Previous advisories, such as “Cyber Security Advisory – Surge in Financial/Bar-phishing Scams & Prevention” and “Cyber Security Advisory – Prevention Against Financial Scam Activities – Impersonation as Govt Officials,” have been issued to stakeholders to raise awareness and enhance preparedness.

The government has directed all ministries, divisions, and the SBP to ensure that affiliated entities are cautioned and that necessary cyber security measures are in place to mitigate imminent threats. The SBP is specifically instructed to disseminate this information to the banking sector promptly and provide a compliance certificate to the National Telecommunication and Information Security Board (NTISB) of the Cabinet Division.

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