Bank of Thailand Urges Financial Institutions To Step Up Cybersecurity

By Teng Khoon Hock

BANGKOK, Nov 9 (Bernama) -- The Bank of Thailand (BOT) has urged financial institutions to strengthen their cybersecurity measures and remain vigilant against potential cyberattacks following incidents involving financial institutions in other countries.

BOT Deputy Governor for Financial Institution Stability Suwannee Jatsadasak said no cyberattacks targeting financial institutions had been detected in Thailand and that financial services remained unaffected.

"BOT is closely monitoring the overseas incidents and has convened Chief Technology Officers of financial institutions, the Thai Banking Sector Computer Emergency Response Team (TB-CERT) and the Thai Bankers' Association (TBA) to strengthen preventive measures," she said in a statement published on Facebook page of the Thai Public Relations Department on Monday.

Suwannee said financial institutions had also been instructed to enhance information sharing, jointly assess emerging threats and prepare appropriate responses to different levels of cyber risk.

She emphasised that the BOT and financial institutions would continue to closely monitor developments and ensure that their information technology systems complied with established security standards.

"They will also conduct emergency response exercises in accordance with their respective Business Continuity Plans (BCPs) to ensure the continued security and reliability of financial services," she said.

Suwannee explained that the measures were aimed at safeguarding financial services and maintaining public confidence amid growing cybersecurity threats.

-- BERNAMA