The Bangladesh Bank (BB) has issued a directive to all banks and non-bank financial institutions (NBFIs) to strengthen security protocols in response to an increased risk of cyber attacks. This action follows a recent alert from Bangladesh Cyber Security Intelligence (BCSI), which reported a sharp rise in unauthorized transactions involving dual currency cards, particularly those linked to Facebook ad managers.

These cyber incidents have reportedly led to significant financial losses for numerous customers. According to BB, cybercriminals are leveraging social media platforms to deceive individuals and facilitate fraudulent transactions.

The central bank highlighted a global rise in cyber threats and expressed concerns about the growing vulnerability within Bangladesh's banking system. BB noted that many banks have been reporting an uptick in malware attacks, further intensifying the need for enhanced cybersecurity.

To address these threats, the central bank has outlined 17 critical security measures that all banks and NBFIs must implement without delay. This initiative aims to protect the financial system and mitigate the risks posed by increasingly sophisticated cyber attacks.