Why are your banks technologically backward? | The Daily Star
12:00 AM, June 27, 2019 / LAST MODIFIED: 12:00 AM, June 27, 2019

Why are your banks technologically backward?

Our banking industry has been susceptible to a number of cyber-attacks recently. Dutch Bangla Bank Limited (DBBL), NCC Bank and Prime Bank, have been subjected to cyber-attacks that siphoned off a big chunk of money. 

Prior to this, cards were cloned and money was withdrawn from various accounts holders through ATMs. Hackers allegedly pulled money out of ATM using malware. The IT officials seems to have been clueless about this, as they didn’t notify the account holders, or disclose this information in the internal system of the bank. The fact that a cyber-attack happened was understood, only after someone realised that the amount deposited in the ATM bank had been reduced.

In this age of digital banking, it is necessary for banks to urgently invest in more software and fortify their system against cyber-attacks.

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