No Disruption to Digital Banking After NBP Cyber ​​Attack

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ISLAMABAD: 1LINK, Pakistan’s leading switching and payment system, confirms that there was no disruption of interoperable banking services during or after the cyberattack on one of Pakistan’s major banks.

All transactions, both financial (cash withdrawal at an ATM, 1IBFT – interbank funds transfer and bill payments) and non-financial (balance request, title search and bill request) are fully functional and secure. There has been no downtime from Thursday, October 28, 2021 until now, and trading volumes suggest customers are trading as usual.

This clarification aims to dispel all rumors and reassure all banking customers that Pakistan’s payment systems and digital banking services are safe as no customer data is compromised and no compromises have been reported via the 1LINK grid or its member banks.

The State Bank of Pakistan, 1LINK and all banks are closely monitoring the situation to ensure the continued safety and soundness of the banking and digital payment system.

The article continues after this announcement

Customers can comfortably transact using their accounts, mobile apps, online banking, and debit and credit cards through all available channels: ATMs, POS terminals, online banking , mobile banking, OTC and other digital means. However, customers are advised to exercise extreme caution in safeguarding their digital credentials which are required to transact, including ATM Pin, passwords, OTPs.

It is pertinent to note that 1LINK is Pakistan’s first OSP/PSP and largest switching and payment system, providing a host of valuable online banking services like ATM switching, bill payment, interbank funds, fraud risk management, commutation dispute resolution, global payment. Systems, PayPak – National payment system. 1LINK is constantly evolving and adding new products and services to benefit the financial industry.

CYBER-ATTACK

National Bank of Pakistan (NBP) systems were hacked on Friday night in what the bank calls a cyber-attack, causing a nationwide disruption of services at the state-owned bank.

“In the late hours of October 29 and early in the morning of October 30, a cyber-attack on NBP’s servers was detected, which impacted some of its services,” the bank said in a statement.

The bank said immediate action was taken to isolate the affected systems and asserted that no customer or financial data was compromised.

Due to the cyberattack, part of the RBA’s IT system has been affected, which could lead to payment delays for thousands of public sector employees. The bank said remediation efforts are underway to secure the breach and essential services will be restored by Monday morning, inchallah.

NBP management has advised its staff to pay particular attention to the processing of ERM (enterprise risk management) and IBFT (interbank funds transfer) payments.

NBP head office also informed during a zoom session that the server and all applications, email were down due to industry-wide hacking attempts, affecting other banks as well. .

“Services are now gradually restored, the first server-based branches are being restored and will be followed by VDI,” NBP management communicated to its employees.

“As a precautionary measure, please pay particular attention to the processing of ERM and IBFT payments. As noted, the core bank/profile has not been affected

and ITG HO is working and any further updates will be shared,” NBP management said.

Meanwhile, the State Bank of Pakistan (SBP) also confirmed the news of the NBP violation on Saturday. In a tweet, the central bank said: “NBP has reported one cybersecurity incident which is under investigation, however, NBP has not observed any data breach or financial loss and no other bank has reported such an incident.”

“SBP is closely monitoring the situation to ensure the safety and soundness of the banking system,” he said.

The attack comes at a time when Pakistan is actively seeking to adopt the digital mode of payment, with regulators and authorities looking for ways to increase documentation of the economy.

Two months ago, the Federal Board of Revenue’s data center was hit by a cyberattack, causing all websites operated by the Federal Board of Revenue to go down.

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