“Information Security incident response capabilities in the financial sector”

Recently large-scale security breaches have highlighted a new class of threat to digital networks. Advanced Persistent Threats (APTs) have made global headlines, to the dismay of many enterprises. The most recent episode was at the Central Bank of Bangladesh, from where hackers stole millions. It is evident that the bank did not have the right protocols in place. The Central Bank of Nepal, Nepal Rastra Bank, and even commercial banks can learn a valuable lesson from this incident, especially on what not to do. Cybersecurity experts acknowledge such types of attacks are likely. The risk is increasing for all organizations, but banks and financial institutions are at more significant risks for a simple reason—that is where the money is. Many nations recognize that the financial sector as an essential component of their critical infrastructures and economies. At the same time, this sector has been repeatedly targeted by cyber-attacks with remarkable success.

For more details: Suman Thapaliya

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