Cyber Attack on Banks

Cyber attacks on Banks rampant in the last 4 months, incidence of attacks on ATMs – ACP Dr. Yankson reports

In line with recent happenings and attacks on Banks and other financial institutions, The Cyber Crime Unit of the Criminal Investigations Department (CID) headed by ACP Dr Yankson has made new revelations and sent “warning” comments to both Banks and persons involved in cyber crime.

Attacks on banks

ACP Dr Yankson noted that in the last four months, the unit had received complaints of similar attacks against a number of banks in the country.

The incidence of attacks, he said, was usually on automated teller machine (ATM) networks, saying investigations had revealed that most of them occurred with the help of insiders (bankers).

He, therefore, advised banks to comply with the Bank of Ghana’s (BoG’s) cyber and information security directive and urged the central bank to strictly enforce the directive to forestall such attacks.

BoG directive

The BoG Cyber and Information Security Directive provides a framework for establishing cyber and information security protocols and procedures for routine and emergency scenarios, inter- and intra-company communication and cooperation and coordination with government authorities.

It also covers the establishment of reporting mechanisms, physical security measures and assurance of data and network security.

In line with the directive, banks are to place special emphasis on cyber and information security and take all the necessary steps to protect and manage their systems and data effectively, as well as expand and enhance their cyber and information security capabilities.

The directive, which applies to all regulated financial institutions and any other entities regulated by the BoG and its affiliates, came into effect in January last year.

Remain calm

ACP Dr Yankson called on banks to enhance the security of their ATMs and also install closed circuit television (CCTV) cameras around ATMs to monitor the activities of customers and bank staff.

For the public, he urged them to remain calm, as all measures were being pursued to ensure that banks were well protected.

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