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Cyberattacks - one of most major problems of current period, Azerbaijan's Central Bank says

Economy Materials 18 June 2021 17:23 (UTC +04:00)
Cyberattacks - one of most major problems of current period, Azerbaijan's Central Bank says

BAKU, Azerbaijan, June 18

By Sadraddin Aghjayev - Trend:

Cyberattacks aimed at violating the confidentiality, completeness and availability of information resources, as well as ensuring cyber security, are one of the most major problems of the current period, the Central Bank of Azerbaijan (CBA) told Trend on June 18.

“The innovative digitalization of the economy, the emergence of new generation technologies, the formation of new solutions, such as information and communication systems based on "clouds" and blockchains, once again emphasize the importance of aspects of information and cybersecurity,” the CBA added.

"The CBA is taking constant measures to ensure the continuity of activity in the financial and banking sector of the country, to adequately respond to the security incidents, as well as to form a control framework in this direction based on the international standards,” the message said.

“One of the measures implemented within the State Program on Expansion of Digital Payments in the Republic of Azerbaijan for 2018-2020, approved upon the order of the president of Azerbaijan dated September 26, 2018 #508, was the strengthening of security requirements for the IT systems of banks," the CBA added.

Moreover, a working group was formed to prepare a regulatory framework for IT security in banks, international standards and approaches of leading central banks were considered.

"The working group has developed a draft regulatory framework (rules) in accordance with the ISO / IEC 27001 standard, prepared by the International Organization for Standardization and covering the most modern requirements to ensure the security of information systems in banks,” the CBA said.

“The draft rules include the process of taking into account security when creating and testing information systems in banks in accordance with the requirements of the ISO / IEC 27001 standard, more effective elimination of security incidents, as well as strengthening control mechanisms to ensure information security in relations with external suppliers and other issues," the CBA added.

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