Wednesday, 16 October 2019

Major cyber attack hits private Bank in Pakistan

KARACHI: The country’s banking system was once again the target of a cyber-attack.

Banks’ ATM cardholders and online users, particularly those maintaining accounts at Bank Islami, need to become extra cautious while doing financial transactions. According to industry sources, ABL and JS Bank have also restricted ATM overseas transaction.

In its immediate response to the security breach, the State Bank of Pakistan (SBP) temporarily “restricted usage of its cards for “overseas transactions (only),” the central bank said in a statement late on Sunday night.

“As a result of security breach of payment cards of one of the banks in Pakistan yesterday and their unauthorized use on different delivery channels ie at ATMs and POS (point of sale) in different countries, the bank has temporarily restricted usage of its cards for overseas transactions,” stated the central bank.

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