Regulatory Alerts2025-01-23
Cyber Security Awareness
The National Bank of Ethiopia mandates all commercial banks to proactively deliver cyber security awareness to their customers through websites, ATMs, social media, and other communication channels. This directive addresses the rapidly increasing frequency and impact of cyberattacks targeting Ethiopian financial institutions and their clients. Banks are required to implement these awareness initiatives as a shared responsibility to help customers prevent or mitigate cyber risks.
[LOGO] የኢትዮጵያ ብሔራዊ ባንክ NATIONAL BANK OF ETHIOPIA
ISMD/D/88/2023 October 30, 2023
All Banks Addis Ababa
Dear Sir;
Subject: Notification to Give Cyber Security Awareness to Your Customers
Cybersecurity threats and attacks are evolving rapidly and are affecting all sectors of the economy. The frequency and potential impact of cyberattacks continue to increase as cyber attackers gain skills and technological sophistication. The financial sectors, together with their customers, are among the primary targets of cyberattacks.
At this time, there are many more cyberattacks targeting Ethiopian bank customers. As a result, the need for cybersecurity awareness and skills is becoming increasingly urgent due to our dependence on information technology (IT) across all aspects of our society. Recent technological advances and the introduction of smart devices have forced both the government and private organizations like banks to create awareness of cyber threats and cybersecurity. Just as you pay attention and are aware of the services you provide for your customers through various media, please provide cyber security awareness through your website, ATM machines, social media, and other methods to your customers about what they should do to prevent or reduce the risk of a cyberattack.
Cybersecurity is a shared responsibility, so own it, secure it and protect it!
Sincerely yours,
[Signature]
Temesgen Asnake A/Director, Information Systems Management Directorate
Cc:
- Bank Supervision Directorate
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