Govt alerts banks about cyberattack threat

Staff Correspondent
22 November 2020, Sun
Published: 01:30

Govt alerts banks about cyberattack threat

The government has alerted all banks about the threat of a cyberattack and instructing them to put in place precautionary measures to prevent hackers from stealing money.

In view of this, the banks have increased surveillance on online transactions and ATM booths. Some banks have started closing ATM booths at night.

An official of a bank said that the financial institutions' division of the finance ministry had sent a letter to banks on Thursday asking them to take necessary measures.

A North Korean hacker group named "Beagle Boys", which had been involved in stealing money from the central bank's foreign exchange reserve in 2016 may try to hack into ATM booths of banks.

Some banks have already taken precautionary measures as per the instruction of the ministry.

State-owned Rupali Bank has suspended the operation of ATM booths from 11:00 pm to 7:00 am.

In August, Bangladesh Bank had alerted banks about a possible cybersecurity threat to bank transactions through ATM booth, credit cards and other modes of online banking.

Since then, almost all banks kept the service of automated teller machines (ATMs) and point of sales (POS) suspended from 12:00 am to 7:00 am.

In an earlier cyber attack on February 5, 2016, hackers stole $101 million from the Bangladesh Bank's account with the Federal Reserve Bank of New York. Of the sum, $81 million ended up in the Philippines and $20 million in Sri Lanka.