ISLAMABAD: The National Bank of Pakistan (NBP) was hit by a cyberattack this week but no financial losses were reported thus far, the State Bank of Pakistan (SBP) has said, adding that an investigation was underway.
National Bank is Pakistan’s leading financial institution with 1,512 branches in the country and 21 overseas branches.
After the attack the bank’s customer service was distrusted, which would be restored by tomorrow, Monday, the bank said.
Poor IT infrastructure has made Pakistani banks the victim of frequent cyberattacks, with industry experts estimating that cyber warfare costs local banks around a billion rupees in losses each year.
Pakistan reported more than 628 defacement attacks that changed the visual appearance of a website or a web page between January and September last year, according to data from cybersecurity services provider Pakistan Computer Emergency Response Team (PakCERT). The attacks have increased after the COVID-19 outbreak last February and subsequent lockdowns which increased online transactions.
“NBP has reported a cyber-security related incident which is being investigated. NBP has not observed any data breach or financial loss,” SBP said on Twitter. “No other bank has reported any such incidence. SBP is monitoring the situation closely to ensure safety and soundness of banking system.”
NBP has reported a cyber security related incident which is being investigated. NBP has not observed any data breach or financial loss. No other bank has reported any such incidence. SBP is monitoring the situation closely to ensure safety and soundness of banking system.
— SBP (@StateBank_Pak) October 30, 2021
NBP said an attack on its servers was detected in the late hours of October 29 and early morning of the 30th, “which impacted some of it’s services.”
Immediate steps were taken to isolate the affected systems, the bank added.
“At this point, no customer or financial data has been compromised. Remediation efforts are underway using industry-leading subject matter experts including international resources where ever required,” NBP said. “We are grateful for the understanding of our customers in this unusual situation and remain committed to the safety of their trust that they repose in National Bank of Pakistan.”
