A high risk of cyber-attacks looms large over 36 per cent of banks in Bangladesh mainly due to a shortage of investment in strengthening security measures, skilled personnel and a lack of awareness among bankers and customers.
In addition, another 16 per cent of banks are in a very high-risk condition, an indication of the fragile cybersecurity scenario in Bangladesh’s banking sector, according to research carried out by the Bangladesh Institute of Bank Management (BIBM).
Md Mahbubur Rahman Alam, an associate professor of the BIBM, presented the findings at a cybersecurity summit organised by the Association of Bankers Bangladesh (ABB) at the Pan Pacific Sonargaon hotel in Dhaka.
Only 12 per cent and 4 per cent of banks are now in low and very low-risk zones, respectively.
The BIBM carried out the research based on the situation of the banking sector as of 2020.
Although the banking sector has observed a “dreadful growth” in IT infrastructures, there has been a lack of security measures to protect banks from cyber-attacks.
Alam said banks had invested Tk 42,609 crore to build IT infrastructures and run…
