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Government Releases Cybersecurity Advisory for Financial Sector Amid Rising Threats

The Government of Pakistan has issued a cybersecurity advisory titled “Pakistan’s Digital Blackout: Countering Fake Propaganda in the Financial Sector” to tackle the increasing cyber threats targeting the nation’s critical information infrastructure (CII).

The advisory highlights the vital role of a resilient national cyberspace and CII in safeguarding national security and economic stability. It stresses the urgent need for a strong framework to defend against cyber-attacks, noting the vulnerability of Pakistan’s CII due to insufficient implementation of cybersecurity measures and best practices.

Recent incidents have seen Indian hacker groups like “Vanguard” and “UCC Error 404 Team” claiming responsibility for cyber-attacks on Pakistan’s .gov.pk domain and critical websites, including government, defense, aviation, and banking sectors. These attacks have been accompanied by false propaganda, causing disruption and confusion among government agencies, educational institutions, and public services.

READ ALSO — Cyber Threats Increase by 17% in Pakistan During 2023

Analysis of the dark web indicates an ongoing threat from various hacker groups targeting Pakistan’s financial and banking sectors. In response, the government urges federal ministries, divisions, and the State Bank of Pakistan (SBP) to implement robust cybersecurity measures in collaboration with the Ministry of Finance and the banking sector.

Previous 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 raise awareness and enhance preparedness.

The government directs all ministries, divisions, and the SBP to ensure affiliated entities are alerted and necessary cybersecurity measures are in place to mitigate imminent threats. The SBP is specifically instructed to promptly disseminate this information to the banking sector and provide a compliance certificate to the National Telecommunication and Information Security Board (NTISB) of the Cabinet Division.

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