Banks to buy insurance against losses from cybercrime. Central Bank issues circular to regulate protective measures

The Central Bank (BDL) has instructed the banks and financial institutions to take protective measures against electronic crimes, according to BDL.

BDL detailed these measures in basic circular no. 144, which was issued recently.

Banks and financial institutions should allocate funds to set up information technology (IT) security systems and must have insurance against e-crime risks.

They have to create a specific taskforce for protection from e-crimes and must prepare inci...

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