Cyber Attack Nepal

How safe are these "Banking" and "Mobile Banking" software systems and the people who use them for the benefit of the citizens of Nepal?

Hackers can enter through it and they can easily move around if the system is not handled by professionals. Reports of such incidences are in the news in Nepal. Hope the security layers of IT systems are professionally handled by all bankers of Nepal.Big candles of cyber crime in big banks are already in news of Nepal. Successful attacks on this scale are usually attributed to expert gangs of cyber criminals – often backed by a national and international, with the aim of destabilizing economies.

Public Offence Act 2004 and Electronic Transaction, and Digital Signature Act 2004, also known as the cyber law (cyber law Nepal 2061 or Cybercrime Act Nepal) – need to be revised.

Time is running out. Students, policy makers, lawyers, legislative and judiciary bodies and professors : We need technologies that go beyond the traditional human operators writing rules. We need to use the power of the ecosystem to find new patterns, machine learning to uncover subtle signals and big data tools to help humans analysts work better and faster to meet these new threats. We need to identify the platform that meets these needs. We need to build capacities to trace a real world complex threat.

CIB (Criminal Investigation Board) should be more concerned on these criminal acts. The dependence on various services provider to maintain information security, lack of supervisory capacity of Central Bank, banks are at risk of incurring huge loss. Tourism industry is also affected because of the same problem. Nepal Tourism Board and CAN should take concern on these serious matter immediately.

There is an urgent need of deployment of 5G infrastructure supported by BIG DATA Scientists, Data Analysts, Behavior scientists to analyse the profiles of all the concerned stakeholders including key members of Nepal Rastra Bank, International Financial Institutions, Banker Association of Nepal, Nepal Tourism Board, Hotel Association Nepal, Travel Agency Association, Ministry of Tourism, Council of Cooperatives, Association of Insurance companies, Computer Association of Nepal, Criminal Investigation Board, Nepal Police, Nepalese Embassies, Foreign Ministries, Regional and International expert communities etc. There should be capacity building programs for citizens of Nepal in order to generate empowered society who will be able to respond to all disasters in Nepal.

Tourists are getting affected already. One tourist from Chicago lost US $ Nine Thousand because of hacking during his travel to Nepal and lodged a complaint in CIB a month ago. He has not heard any thing on the investigation process so far. Losses due to cyber attacks are high. I am hearing other similar cases of tourists being cheated in Nepal.

All concerned stakeholders including international parties should come together and act without loosing time. Cyber crime is on rise, with attacker using more sophisticated hacking technologies to break through financial sector defense system.