There is no alternative to ensuring cybersecurity in the protection of the financial sector when it comes to digital transactions, experts have opined.
They said the financial institutions all over the world face security challenges during digital transactions.
The opinion came at a daylong workshop titled "Cyber Drill 2020" hosted by the Cyber Incident Response Team (BGD E-GOV CIRT) of the government on Thursday.
The event was inaugurated by the ICT Division's senior Secretary NM Ziaul Alam while BGD e-CIRT Project Director Tarique M Barkatullah and British cybersecurity expert Cornel Davis were present on the occasion.
In his address, Ziaul Alam said Bangladesh is moving ahead with digital technology while the challenges are also growing side by side.
The security issue in financial sector needs to be considered on a priority basis, he added, stressing that there is no alternative to cyber security in online transaction.
Cybersecurity risk is a challenge to financial institutions when making transactions digitally, said Cornel Davis. He added that all types of cyberattack can be thwarted by timely actions.
Davis emphasised the need for mastering skills and techniques to deal with the issue.
Project Director of BGD E-GOV CIRT Tarique M Barkatullah said as part of the multifaceted move to strengthen security for financial institutions, such workshop will happen throughout the year – 3-4 in a month.
Tarique maintained that a mega workshop will be hosted every year, and beside the financial sector, such drills will be held for other sectors too.
"This move will help the bankers and clients become aware of cybersecurity," he commented.
Sources said a total of 30 banks joined the workshop and received practical training on cybersecurity.
They said the entire financial sector will be brought online as part of the plan to build digital infrastructure based on the model of Bangladesh National Digital Architecture.
Mentionable that this is the first time such a workshop on cybersecurity was held in the country. Interested individuals from Bangladesh Bank and other commercial banks engaged in cybersecurity were asked to register for the event between 15 and 19 October.
Cybersecurity experts from home and abroad were present to impart training to the attendees.