August 19, 2024 (MLN): 1LINK, one of the country’s largest payment gateways, has denied reports circulating on social media about ATM closures.
“This is to inform general public and allay the fears created by a false message being circulated on different WhatsApp groups and social media platforms, warning people to avoid using ATMs and Online Banking in Pakistan,” it said in a statement.
A similar scare surfaced in 2017 during the `Wannacry Ransomware,' cyber attack, which targeted Microsoft Windows machines, including those used by banks.
However, the Pakistan banking sector successfully defended against those attacks in 2017, it noted.
It said that the public is advised not to pay any attention to such hoaxes and to consult their banks for any guidance.
The State Bank of Pakistan (SBP) is actively working with banks and 1LINK to maintain the security of Pakistan's Financial infrastructure and digital payments ecosystem, ensuring compliance with stringent IT and security guidelines.
Thus far, no cyber threat has been observed on the ATM and online banking ecosystem in this context, and the financial service industry remains vigilant as ever before.
1LINK (Pvt) Limited, owned by a consortium of 11 banks, is the country's first fully licensed PSO/PSP and largest switch and payment system, providing a host of valuable online banking services like ATM switching, 1BILL, Inter Bank Funds Transfer, Fraud Risk Management, Switch Dispute Resolution, International Payment Schemes, PayPak – Domestic Payment Scheme etc.
