KARACHI: Six million dollars were stolen from the accounts of Bank Islami, appears to be the biggest security breach in the history of the country.
The Cyber Attack was reported to State Bank of Pakistan following a press release stating that Bank Islami has temporarily restricted usage of its cards, ATM and overseas transaction.
On the morning of October 27, 2018, certain abnormal transactions were detected by BankIslami on our International Payment Scheme for Debit Cards.
Alhamdulillah, BankIslami team immediately took precautionary steps which included shutting its International Payment Scheme. All funds withdrawn from the accounts (i.e. Rs. 2.6 Million) of our valued customers have been reversed.
As a precautionary measure, all transactions routing through an international payment scheme (Local and International POS, ATM and eCommerce) have been stopped.
However, we restored our Biometric ATM cash withdrawal service for our customers, the very same day.
Our technical teams are working in close coordination to restore other services.
The State Bank of Pakistan issues directives to all the banks in Pakistan to take precautionary measures and monitor real-time activity.
Rafay Baloch shared his analysis on the security breach.