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Government Releases Cyber Security Advisory for Financial Sector Amid Rising Threats

Government Releases Cyber Security Advisory for Financial Sector Amid Rising Threats

The Government of Pakistan has issued a cyber security advisory, entitled “Pakistan’s Digital Blackout — Fake Propaganda and Response Initiative at Financial Sector,” in response to the escalating cyber threats targeting the nation’s critical information infrastructure (CII). This advisory underscores the paramount importance of a resilient national cyberspace and CII in safeguarding both national security and economic stability. It highlights the pressing need for a robust framework to defend against cyber-attacks, as the current vulnerability of Pakistan’s CII is attributed to the insufficient implementation of cybersecurity measures and best practices.

 

Recent incidents have seen Indian hacker groups, notably “Vanguard” and “UCC Error 404 Team,” claiming responsibility for cyber-attacks on Pakistan’s .gov.pk domain and critical websites. Targets have included government, defense, aviation, and banking sectors. These attacks have not only caused disruption but have also propagated false information, leading to confusion among government agencies, educational institutions, and public services.

Also Read: Cyber Threats Surge by 17% in 2023: Implications and Responses

Dark web analysis suggests a persistent threat from multiple hacker groups focusing on Pakistan’s financial and banking sectors. In response, the government urges federal ministries, divisions, and the State Bank of Pakistan (SBP) to collaborate with the Ministry of Finance and the banking sector to implement robust cybersecurity measures.

 

Prior advisories, such as “Cyber Security Advisory – Surge in Financial/Bar-phishing Scams & Prevention” and “Cyber Security Advisory – Prevention Against Financial Scam Activities – Impersonation as Govt Officials,” have been issued to stakeholders to enhance awareness and preparedness. The government directs all relevant entities, including ministries, divisions, and the SBP, to ensure that affiliated organizations are adequately cautioned and that necessary cybersecurity measures are in place to counter imminent threats. The SBP receives specific instructions to promptly disseminate this information to the banking sector and furnish a compliance certificate to the National Telecommunication and Information Security Board (NTISB) of the Cabinet Division.

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