Banks Enhance Cyber Security Networks to Mitigate Threats Amid Rising Tensions

Following missile strikes by India on Pakistan and Pakistan-occupied Kashmir, banks have fortified their cyber security systems to counter potential threats. Security has also been heightened at branches near the border due to increased risk of retaliation. Punjab National Bank's MD and CEO, Ashok Chandra, stated, "We have strengthened the cyber security mechanism... we have created a 24 hours war room to diffuse any cyber attack... we are prepared for any eventuality."

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Enhanced Security Measures

Security at bank branches in border areas has been reinforced, with additional measures taken to ensure staff safety. A senior official from another public sector bank confirmed that an anti-cyber attack system is now operational to handle any potential threats. ATMs in these regions have been stocked with cash to prevent shortages for customers.

In response to the Pahalgam terror incident, Indian forces launched missile attacks on Wednesday targeting nine locations in Pakistan and Pakistan-occupied Kashmir. These included key sites like Jaish-e-Mohammad's Bahawalpur base and Lashkar-e-Taiba's Muridke base. The strikes were part of Operation Sindoor, conducted two weeks after terrorists killed 26 civilians in Pahalgam, Jammu and Kashmir.

Stock Exchanges' Precautionary Actions

Leading stock exchanges BSE and NSE have implemented precautionary steps by restricting website access for international users. A BSE spokesperson explained that as a critical market infrastructure institution (MII), BSE actively monitors risks both domestically and internationally for potential cyber threats.

The proactive measures taken by banks and stock exchanges highlight the importance of safeguarding financial systems amid geopolitical tensions. By enhancing security protocols, these institutions aim to protect their operations and maintain stability during uncertain times.

With inputs from PTI