Jumbangla Desk: Bangladesh Bank has warned all scheduled banks, financial institutions and payment service providers due to the significant increase in cyber attacks targeting the banking sector.

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The precautionary directive was issued on Friday (November 1) after regular data security monitoring by Bangladesh Cyber ​​Security Intelligence ( BCSI ).

It said some banks have been victims of illegal transactions related to the use of Facebook Ad Manager on dual-currency cards, affecting ordinary customers nationwide.

The directive highlights the growing activity of cybercriminals on social media. Who are constantly harassing the public and bank customers alike. This surge in cyber attacks is not limited to Bangladesh alone, rather it marks the growing trend of cyber threats globally. Especially in the banking sector, where malware attacks are alarmingly frequent.

To prevent these cyber threats, Bangladesh Bank has requested the banks to implement several urgent measures including information sharing, increasing verification, use of One Time Password (OTP), two-factor/multi-factor authentication, limiting the number of login attempts.

There is no such thing as free will of the brain

The bank has urged all financial institutions to take immediate action on the risks outlined. It has been mentioned in the instructions that the implementation of these steps will be supervised by the Director of Information and Communication Technology (ICT) Department of Bangladesh Bank.
Source: UNB