International Finance

Banks in Israel get warned of the rise in the number of cyber crimes

Banks,Israel, cyber crimes
The Bank of Israel warns the banks of the rise in cyber crimes

Israel has recently seen an increase in the number of cyber attacks. Pertaining to the same, on Sunday Israel’s banking regulator has advised banks and their customers to be more watchful against cyber criminals.

The Bank of Israel, which is the central bank of Israel has opined that with the advancement of technology, although customers are able to easily access several online banking services, but these are exposing them to cyber crimes like hacking.

“In the last half year, we have seen an increase in attempts at fraud via phishing, aimed at banking system customers with the intent to steal funds from their accounts,” said the central bank of Ireland.

Cyber criminals posing as PayPal have attempted to fetch personal details of online consumers.

The Bank of Israel said that although the banks have their own security norms, they found it apposite to ‘notify banks’ customers of the recent fraud attempts and to clarify the recommendations regarding dealing with such fraud attempts, in order to increase customers’ awareness and attention, and to reduce the chances of such fraud succeeding’.

“In these fraud attempts, the attackers succeeded in causing the banks a minimal amount of financial damage of several tens of thousands of shekels, and no damage was caused to customers,” the bank added.

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