Special team to combat cyber risks at BB


FE Report | Published: September 01, 2018 10:32:25 | Updated: September 03, 2018 10:45:48


Representational image: People wearing balaclavas are silhouetted as they pose with a laptops in front of a screen projected with the word 'cyber crime' and binary code, in this picture illustration taken in Zenica October 29, 2014. Reuters/Files

The government is going to constitute a special team of experts to combat possible cyber attacks on the central bank, officials said.

The move has been made in the wake of the growing cyber threats to the country's financial institutions.

Posts, telecoms and information technology minister Mustafa Jabbar earlier sought finance minister's help to take necessary measures to this end.

Accordingly, AMA Muhith sought opinion of the Bangladesh Bank (BB) and its modus operandi, a high official of finance division said.

Officials concerned said hackers are still active. A major accident may happen in the BB's information security system.

"Bangladesh Computer Council has already formed a cyber security team for the safety of important state information. A cyber sensor has been established to develop the central bank's cyber security. According to information obtained from that sensor, cyber criminals are setting up malware in the bank's key computers. The malicious software is providing passwords and user identities to the notorious cyber criminals based in Kazakhstan, Romania, Japan and China," Mr Jabbar said in his letter to Mr Muhith.

"In this connection, we have already alerted the central bank authorities," he added.

"The government's information and communication technology division is in touch with the authorities. But things are getting delayed for lack of a cyber security team at the BB."

"A major accident might take place in the security system of the central bank," the minister added.

Mr Jabbar thinks it is urgent to set up a cyber security team for round-the-clock monitoring of the BB's cyber data and others.

In 2016, hackers stole $101 million from the BB reserves deposited with the US Federal Reserve Bank.

Nearly $20 million of the funds was later recovered from Sri Lanka.

The government adopted a cyber-security declaration 2017, asking organisations to develop an actionable roadmap.

The roadmap is to be approved and monitored by the top management, BGD e-GOV CIRT.

The BB has developed a guideline in order to fortify the cyber security system to check cyber crimes, a source with the knowledge of the development said.

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