The Nepal Telecommunications Authority has passed the Cyber Security Bylaw 2020 which aims to protect information and communication systems from cyber attacks and other associated risks.
It requires telecommunication and internet service providers to make use of national and international cyber risk information sharing platforms to receive and share information regarding security issues, vulnerabilities and cyber threat intelligence.
The purpose of the platform is to establish a cyber security community in Nepal to facilitate the detection and prevention of cyber attacks by sharing cyber threat intelligence information.
ATM heists resulting from compromised switching systems, distributed fund transfers into legitimate user accounts, and the hacking of the SWIFT system are the best known cases of data breaches in Nepal in the recent past.
These schemes were discovered and well publicised, but there are dozens of instances of card skimming, loss of personally identifiable and proprietary data and money laundering that were either resolved and unreported, or proceeding undetected, according to reports.
As digitisation grows in Nepal, it is inevitable that increasingly vast amounts…
