IT security of one bank compromised: SBP.

State Bank of Pakistan in a statement has categorically denied news items that the data of most banks had been hacked. SBP rejected such reports with utmost concern.

There is no evidence to this effect nor has this information been provided to SBP by any bank or law-enforcement agency, SBP stated. 'We would like to emphasise 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,' SBP said.

Nevertheless, 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, SBP added.

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, SBP...