CBJ calls for tighter bank security as a precaution

AMMAN — The Central Bank of Jordan (CBJ) said its circular urging banks to strengthen their security to prevent breaches is precautionary. Banks are also advised to keep abreast of related-developments and the latest IT security solutions, the CBJ added.

The bank had issued a circular calling for tighter security measures so that licensed banks can avert the risk of hacking. The banking sector at the global level has experienced several hacking attempts and breaches, the last of which was the Bangladesh Bank heist where losses amounted to $120 million.