Authorities want commercial banks to strengthen IT security in Kazakhstan

Banks must share data about events and incidents in an automated way

The Agency for Regulation and Development of the Financial Market in Kazakhstan has issued a new rule concerning IT security in banks.

“Amid the growing threat of cyber attacks we have to strengthen security systems in the IT area in order to protect private data about clients, their accounts and financial transactions,” the agency said in a statement.

As the agency reported, the new rule requires commercial banks to put more efforts into IT security. Also, the document sets clear boundaries of responsibility between different banking departments that are key parts of the IT security system.

Moreover, the new rule demands that commercial banks share their data about IT security events and incidents solely in an automated way.

“The amendments that have been introduced by the new rule enhance the current requirements to the banks in the area of IT security. They are aimed at increasing the efficacy of IT security for the entire industry. Once these procedures for information sharing are in place, the document flow will reduce,” the agency said.

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