BB alerts banks, MFS over cyber threats

Bangladesh Bank (BB) has asked all banks, mobile financial services (MFS) providers, payment service providers and payment systems operators to remain on the lookout for cyber threats in regards to the system used for digital transactions.

According to a circular issued by the central bank on Wednesday, the payment systems department (PSD) of the central bank asked the institutions to be vigilant on protecting the system infrastructure used for digital transactions.

In response to the 7-day strict lockdown that began from Thursday, the BB issued the directive to be prepared for cyber attacks against possible financial and transaction-related fraud attempts through social media, emails and smartphones.

According to the circular, BB also asked institutions to be vigilant on emails, phishing emails and ransomware attacks on existing systems and their database.

Furthermore, the cap on transactions made through internet banking has been increased.

A daily transaction limit of Tk10 lakh has been set for an individual customer with a maximum of Tk3 lakh per transaction, and a limit of 10 transactions per day through internet banking.

Meanwhile, organizations will be facilitated with a daily transaction limit of Tk25 lakh, with a maximum of Tk5 lakh per transaction, and a limit of 20 transactions through internet banking each day.