Monday, April 19, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

RBM tightens cyber security risks for banks

by Steve Chilundu
12/02/2020
in Business News, Editors Pick
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

The Reserve Bank of Malawi (RBM) has tightened cyber security risks for commercial banks by issuing new information and cyber security risk management guidelines to replace the information technology risk management guidelines of 2016.

RBM Governor Dalitso Kabambe, who is also registrar of financial institutions, said in a statement that cyber security risk, if not properly managed, has the potential to cause disruption to the financial industry.

RelatedHeadlines

Women’s football blueprint takes shape

Ministry defends ‘borrowing’ of Covid-19 funds

Sumbuleta gets behind bars

rbm | The Nation Online
RBM head quarters

He said: “Information and cyber risk breaches could result in denial of service to customers, exposure of private information, deletion of or tampering with customers’ and banks’ records and inability to manage both its own as well as customers’ assets.”

In a written response on Monday, Information and Communications Technology Association of Malawi president Bram Fudzulani said cyber security is a major concern worldwide and not just in the financial industry.

He said major threats include stealing of money and the underlying technology or intellectual property.

Consumers Association of Malawi executive director John Kapito said the banking industry as a high-risk area that requires constant reviews on policies that guide and protect consumers from illicit financial transactions. The objectives of the guidelines are, among others, to provide minimum requirements on management of information and cyber security risk, strengthen banks’ information system security and protection of critical information infrastructure.

Avatar
Steve Chilundu
Previous Post

Ministry rebuffs Karonga Council

Next Post

MET warns of severe weather

Related Posts

tabitha | The Nation Online
National Sports

Women’s football blueprint takes shape

April 18, 2021
Minister of Labour Ken Kandodo
National News

Ministry defends ‘borrowing’ of Covid-19 funds

April 18, 2021
Taken into custody on Saturday: Sumbuleta
National News

Sumbuleta gets behind bars

April 17, 2021
Next Post
Nkhokwe: It is unusual

MET warns of severe weather

Opinions and Columns

Big Man Wamkulu

Hot babe wants to trap me, should I ran?

April 18, 2021
Political Uncensored

Mighty mess!

April 18, 2021
My Thought

Chakwera’s indecisiveness will be his downfall

April 18, 2021
People’s Tribunal

Cut the crap, act on abuse forthwith

April 17, 2021
https://www.mwnation.com/wp-content/uploads/2021/03/WFP-Afikepo-1-2.pdf https://www.mwnation.com/wp-content/uploads/2021/03/WFP-Afikepo-1-2.pdf https://www.mwnation.com/wp-content/uploads/2021/03/WFP-Afikepo-1-2.pdf

Trending Stories

  • Lilongwe Road | The Nation Online

    OPC frustrates roads projects

    0 shares
    Share 0 Tweet 0
  • Ministry defends ‘borrowing’ of Covid-19 funds

    0 shares
    Share 0 Tweet 0
  • Traders fall short of Maize export demand

    0 shares
    Share 0 Tweet 0
  • Caroline Kautsire: English Professor at Bay State College in Boston

    0 shares
    Share 0 Tweet 0
  • Chakwera’s indecisiveness will be his downfall

    0 shares
    Share 0 Tweet 0
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.