The FIA director Cyber Crimes Capt. ® has disclosed that hackers had theft the data of all of all the Pakistani banks in a major cyber-attack. The director also disclosed that banks have not provided details to the concerned authorities. But FIA’s initial investigation confirmed that major attack did take place.
Capt. Shoaib told to the media that Over 100 cases have been registered and the investigations are underway. He also told that The FIA has convened a meeting of banks’ chiefs in this regard. He said that the hacking operation was executed from outside Pakistan. He, however, did not disclose names of the banks affected.He also did not disclose the level of data breach and how many customers being affected.
A big ATM fraud scam that targeted hundreds of account holders in Khyber Pakhtunkhwa in which more than 200 people lost millions of rupees from their accounts.
Former chief scientist of Khan Research Laboratories, Dr Yousuf Khilji, in an application to the Chief Justice Mian Saqib Nisar on Monday has claimed that someone had fraudulently withdrawn Rs3m from his account within 17 hours.
Many Pakistani banks have already suspended usage of their debit cards abroad without prior approval of this service. The Pakistani banks forced to take this action to protect its customers from ATM fraud and possible cyber-attack. The customers of Bank Islami lost millions as the result of cyber-attack. Now six Pakistani banks stopped their service to customers going abroad without getting approval from their respective bank.
The spokesman of the State Bank of Pakistan told media that banks took various measures to protect their information technology systems from cyber-attack following the central bank’s instructions. “It has come to our notice that few banks have even withdrawn the facility of cards being used outside Pakistan,” said the spokesman. “Some are (however) allowing this facility upon instructions of their customers only.”
On October 29, the central bank asked commercial banks to ensure safety of their payment cards from security breach after fraudulent overseas transactions, using Bank Islami’s debit cards, were unearthed.
According to the cyber security experts and bankers, the cyber security is the biggest risk to the financial system across the world as well in Pakistan. “Banks are investing less in their cyber security systems,” a banker said, requesting anonymity. “They need to invest more to ensure they are resilient to cyber threats… and comply with the set of rules for coping with cyber-attacks.”
According to a report published in leading Pakistani daily The News, a Moscow-based anti-fraud firm the Group IB said nine Pakistani banks, including Bank Islami, Habib Bank, JS Bank, Faysal Bank, Soneri Bank, Bank of Punjab, Bank Alfalah, Silkbank, and MCB Bank witnessed abnormal transactions.
The Group IB, citing the SBP, said compromised cards of BankIslami were cashed out via automated-teller machine and point-of-sale in different countries, including USA and Russia.
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18 August, 2019