Be on alert for cyber threats, regulator directs banks, MFS
In a circular on Wednesday, the central bank's Payment Systems Department asked such institutions to keep a close eye on their respective system infrastructure used for electronic transactions.
The central bank's Payment Systems Department asked such institutions to keep a close eye on their respective system infrastructure used for electronic transactions
The Bangladesh Bank has directed all banks and mobile financial services (MFS) to be ready to tackle the risk of cyber attacks during the 7-day strict lockdown period starting from Thursday.
In a circular on Wednesday, the central bank's Payment Systems Department asked such institutions to keep a close eye on their respective system infrastructure used for electronic transactions.
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The department also directed these institutions to give special attention to emails, phishing emails and ransomware attacks, so that cyber threats on their systems and databases can be prevented.
All stakeholders will have to be on alert against possible financial and transaction-related fraud attempts centring the Covid-19 pandemic, carried out by culprits using social media, email and mobile phones.
Aside from these directions, the central bank has also set a schedule and imposed a limit of the amount of transactions carried out through different Bangladesh Bank systems.
Transactions using the Real Time Gross Settlement (RTGS) system can be conducted from 10am to 1:30pm during the 7-day lockdown. But the deadline will end on 2:30pm for anyone paying duties, taxes, fees or charges.
Inter-bank cheque transactions for more than Tk5 lakh will continue from 11:30am to 1pm, while such transactions for Taka below the amount will continue from 12pm to 2pm.
The central bank has increased the limit on transactions made through internet banking. Individual customers will get a daily transaction limit of Tk10 lakh, and each customer will be able to carry out a transaction of up to Tk3 lakh at a time.
Such a customer will be able to carry out a maximum of ten transactions through internet banking each day.
Institutional customers will get a daily transaction limit of Tk25 lakh, and each customer will be able to carry out a transaction of up to Tk35 lakh at a time. Such a customer will be able to carry out a maximum of twenty transactions through internet banking each day.
