1LINK (Pvt) Limited announced on Sunday that no cyber threats have been detected in Pakistan’s ATM and online banking systems, countering a “false message” circulating on various social media platforms. The company, owned by a consortium of 11 banks, urged the public to disregard the misleading information spreading on WhatsApp and other platforms, which advised against using ATMs and online banking services.
In its press release, 1LINK reassured citizens that the State Bank of Pakistan (SBP), along with banks and 1LINK, is diligently working to secure the country’s financial infrastructure and digital payment systems. They emphasized that strict IT and security protocols are in place, and no cyber threats have been identified within the ATM and online banking ecosystem.
The statement also referenced a similar scare in 2017 during the ‘Wannacry Ransomware’ attack, which targeted Microsoft Windows systems, including those used by banks. However, the Pakistani banking sector successfully defended against those attacks, reinforcing the current reassurances.
To further promote public safety, the press release included guidelines advising against sharing sensitive information such as payment card details, PINs, OTPs, and passwords. The public is also urged to stay vigilant while using ATMs, online banking, or conducting transactions at bank branches and to report any suspicious activities immediately.
The central bank has been actively encouraging the adoption of digital frameworks to promote transparency in the economy. While digitalisation offers numerous benefits, it also introduces challenges such as cybersecurity threats, gaps in technology awareness, and the need for user education.
Last month, a cybersecurity company advised Pakistani citizens to limit their use of public Wi-Fi networks due to potential security risks, highlighting the vulnerability of personal data such as social media logins, banking details, and email addresses when connected to these networks. They also recommended following strict guidelines to protect mobile phone users’ digital identities and prevent unauthorized access to personal and financial information.
In related news, Pakistan is set to establish a ‘National Cyber Security Authority’ by next year, aiming to mandate the deployment of security-certified infrastructures by July 2028 to prevent data breaches and cyberattacks on national institutions and private organizations.
At the recent ‘InfoSec 2024’ conference, Dr. Haider Abbas, Director General and Head of the National Cyber Emergency Response Team (CERT), announced that the National CERT would be transformed into the National Cyber Security Authority of Pakistan by 2024 or the following year. Additionally, Kaspersky, a leading cybersecurity firm, reported a 17% increase in overall cyber threats in Pakistan in 2023, having blocked 16 million cyberattacks throughout the year.
