Except for one, no evidence of banks data being hacked - SBP

News Image

By MG News | November 06, 2018 at 10:22 PM GMT+05:00

0:00

The state Bank has noted with concern news items reporting that the data of most banks has been hacked.

In a statement SBP categorically rejected such reports and said there is no evidence to this effect nor has this information been provided to the SBP by any bank or law enforcement agency.

The Central Bank emphasized that except for the incident of October 27th, 2018 in which reportedly the IT security of one bank was compromised, no breach has been reported.

Nevertheless, the SBP has already instructed all banks to take steps to identify and counter any cyber threat to their systems in coordination with international payment schemes. Representatives of payment schemes have also assured that all steps are being taken to help banks in identifying any cyber threat on card systems and have offered additional controls to them.

In addition to the above, some banks are putting in place further precautionary measures 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, SBP has been assured that all these temporary, restrictions would be lifted once appropriate IT security measures are in place.  It is stressed, that all restrictions pertain only to cross-border transactions, and no bank has instituted any restriction on domestic transactions.

SBP is engaged with the international payment schemes, payment operators and banks to monitor the current situation continuously to ensure security of the banking system.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg