HBL Cyber Attack
Social media especially Twitter is bombarded with cyber attack news on Habib bank ltd.
The news on social media about HBL system Hacked is being shared by HBL customers that they have lost money from their accounts.
But neither HBL management has confirmed this news nor the State Bank of Pakistan has given any official statement regarding HBL system being hacked as the same was done when the National bank system was accessed partially by the hackers on 29th of October 2021.
Last week State Bank called a meeting of all commercial banks to discuss the cyber security system of the banks and this was decided to upgrade the banking cyber security system to the next level to safeguard the interest of the banking customers.
in October 2018, bank Islami was reported for a cyber attack which was also confirmed by the Bank itself when $2.6 Million worth of transactions were carried out using Bank Islami Debit cards abroad.
But When Bank noticed it the gateway for the foreign transactions was at once blocked.
But Bank Islami received a request from foreign partners to pay $6 Million because at foreign ATMs transactions were carried out but Bank Islami refused to pay them because Bank had already blocked the gateway for the foreign transactions.
A few months back, the FBR system was also partially hacked where the department was using Microsoft software.
Pakistani commercial banks and Govt institutions are no doubt vulnerable to cyber-attacks and there is a grave need for the commercial banks to adopt the latest cyber security system so that the financial information related to customers must be secured by using the latest and modern cyber security system by the commercial banks and financial institutions.
Pakistani customer’s deposits in Banks are also protected by the Deposit Protection Mechanism up to Rs.500,000 under the scheme launched by SBP.