Central Bank of Kenya (CBK) has created a Cybersecurity Operations Centre with the aim of ensuring that the financial sector in Kenya is more resistant to the ever-rising cyber threats.
This new unit will take care of Cyber Threat Intelligence, Incident Response, Digital Forensics, and Cyber Investigations, thus facilitating a one-stop centre for the banking sector to oversee and manage the cyber risks that are posed.
Meanwhile, CBK is in the process of aligning the Commercial Banks Cybersecurity Guidelines and the Payment Service Providers Cybersecurity Guidelines with the Computer Misuse and Cybercrimes (Critical Information Infrastructure and Cybersecurity) Regulations, 2024.
The regulator has mandated that all banks and payment service providers should ensure they are in compliance with the latest guidelines and they must report any cybersecurity incidents to CBK without any delay.
The bank further says that prompt reporting will be the key to sector-wide preparedness and it will enable quick taking up of response to the escalating wave of cyberattacks.
“The dangers that cybercriminals pose are still large and persistent. The key factors in ensuring the safety of Kenya’s banking system will be among others; Better Collaboration, Compliance, and Openness,” said CBK.
This action is a clear indication of how committed CBK is to the security of the financial sector as the industry digitization is gaining ground and it faces the same number of cyber threat actors who are getting more and more advanced.