Insurance Board Starts Discussion to Counter Cyber Attacks in Nepal

The Insurance Board, an autonomous body to regulate insurance business in Nepal, has started discussion on ways to counter the cyber attacks, reports New Business Age.

The board has taken this initiative after the recent hacking of NIC ASIA Bank’s SWIFT System in which around Rs. 31 Crore was hacked.

A meeting was held on November 2 where Dhruba Gyawali, Information Technology Engineer of the board presented a paper on cyber security to all the top-level officers of different insurance companies.

Gyawali urged the companies to hire trusted employees by properly vetting their background, and only then provide them the responsibility to handle its SWIFT system.

The board has said that it will soon bring effective directives to strengthen the cyber security of financial institutions of the country after holding discussions with the concerned experts.