OnNet Services, a Poland based cyber security firm which foretold theft of Sh11 million at four Barclays Bank Auto Teller Machines (ATM) over the Easter holiday, has linked three local hacker communities to bank heists in Kenya. This revelation comes at a time the banking sector is battling cyber security threats as they lose billions of shillings to these faceless thieves. In July 2017, CBK introduced cyber security policy guidelines to help banks deal with cyber crimes and prepare for emerging threats. Banks are required to compile and file annual reports with the regulator detailing how they plan to curb cyber security threats. Last year, the regulator widened the scope to mobile money transfer networks which are demanded to notify CBK within 24 hours of any cyber security incident.

Source: The Star May 02, 2019 03:00 UTC