Attackers get access to consumer details and managed to launder money off their accounts.
KARACHI: The recent cyber-attacks on Pakistani banks points at the massive work agencies and authorities need to undertake to make inter-bank and international transactions safe for consumers. Last year, one of the biggest banks of the country faced similar issues, yet once again this year a similar issue has surfaced where attackers have gotten access to consumer details and have managed to launder money off their accounts.
Before the government lets new banks open up, letting the industry sprout like the media industry, it should rather make the existing banking structure safe.
Hammad Ilyas
Published in The Express Tribune, November 8th, 2018.
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