Poll: Azerbaijani banking sector is impenetrable to external attacks

Business Materials 15 March 2013 20:50 (UTC +04:00)

Azerbaijan, Baku, March 15 / Trend L. Abdullayeva /

The information security level of Azerbaijani banks is at a high level. This is a conclusion as a result of a survey conducted by Trend among Azerbaijani banks.

The Iranian group WHITE HAT HACKERS threatened some time ago that it intends to commit a major hacker attack on the Azerbaijani banking system.

The International Bank of Azerbaijan (IBA) finds itself safe against outside attacks as all necessary action has been carried out to ensure IBA has total information security.
"The essence of these actions is not subject to disclosure," the bank said.

According to IBA, there is a 100 per cent possibility of such attacks because it is impossible to prevent such attempts.

Muganbank has been tightened up for its information security because professionals are working at the IT-department of the bank.

"Like many other major organisations, our bank was attacked by hackers," the bank's marketing department said. "We have a thorough approach to the assessment of such threats, but it is often a simple threat without good reason."

Meanwhile, the bank believes that one must not ignore or underestimate the threats in cyberspace. A theoretical evaluation of a hacker attack is necessary to create the right strategy to forestall and prevent threats. Therefore, information security is always a priority for Muganbank.

AccessBank is using a defence in-depth methodology to reduce the risk of hacker attacks. It envisages the protection of each area in the information system.

"Of course, different cyber-attacks were made on our systems such as collecting data and targeted attacks," the bank said. "These attacks have been registered by our protection means and experts are taking the appropriate security measures."

Meanwhile, information security requires constant attention and AccessBank is continuously paying attention to this issue. The relevant organisations are operating to increase an information security level of information systems of the bank. New systems are being created and the existing ones are being improved.

Hacker attacks and other security threats successfully bypassed Unibank due to sufficient information security of the bank.

"An attack can be made at any time and a threat of a hacker attack will be assessed depending on the power of the hacker group," the bank said. "WHITE HAT HACKERS is not considered a powerful hacker organisation compared to say, Anonymous. Its potential will not be enough to avoid the security systems of the world leaders which protect our information system."

Unibank's information system security systems are powerful enough to resist the pressure from individual hackers and their groups.

The bank is conducting several activities such as design, implementation and maintenance of security systems to ensure information security.

According to Unibank, the Azerbaijani Central Bank (CBA), having a strong information security department, very competently and promptly controls the information security level of Azerbaijani banks. The requirements for information security systems by the Central Bank are being tightened as the situation is changing in cyberspace.

The Azerbaijani banking sector is resistant to hacker attacks, CBA Director General Rashad Orujov said.

"This is nonsense," he said. "After this statement was made, we have instructed all banks to check whether there were threats or such attacks. There is no information about any hacker attempts."

He said that there are CBA requirements towards banks in the field of information security and these issues are regulated.

There are 43 banks in Azerbaijan.