TDS Desk:

Bangladesh Bank (BB) has asked all banks and non-bank financial institutions (NBFIs) to implement stringent security measures for increased risk of cyber attacks.

“Bangladesh Cyber Security Intelligence (BCSI) has detected a significant increase in unauthorised transactions using dual currency cards linked to Facebook ad managers,” said BB in a letter issued to all banks and financial institutions recently, reports BSS.

These illicit activities have resulted in financial losses for numerous customers, the letter added.

It said cyber criminals are exploiting social media platforms to target unsuspecting individuals and carry out fraudulent activities.

The central bank emphasised the global surge in cyber threats and expressed concerns about the growing vulnerability of the country’s banking system.

In the letter, BB said banks have been reporting frequent malware attacks.

In response to the escalating threat, the central bank has outlined 17 essential security measures that banks must implement immediately, the letter added.