Islamabad (Commerce Desk): The National Cyber Emergency Response Team has issued new guidelines amid growing concerns over the risk of cyberattacks powered by artificial intelligence targeting financial institutions and critical national infrastructure.
According to the advisory, banks' core banking systems, digital banking platforms, oil and gas facilities, water supply systems, and electricity transmission and generation networks could become targets of cyberattacks.
In addition, industrial production and transportation systems are also facing potential threats. The advisory warned that panic and confusion could be created by manipulating the bank account balances displayed to customers.
According to officials, the use of artificial intelligence, automated programs, botnets and advanced automated systems is increasing the speed and complexity of cyberattacks. Banks' communication systems, payment mechanisms and customers' mobile applications could also come under attack.
The advisory has instructed financial institutions to closely monitor automated login attempts, repeated authentication failures, unusual use of customers' identification information, suspicious communication requests, changes in application settings and abnormal financial transactions.
The document also referred to cyberattacks on cooling and freezer systems at European supermarkets, which caused damage to business operations and related operational systems. However, the use of artificial intelligence in these incidents has not yet been confirmed.
The advisory further recommended ensuring the accuracy of customer applications and banks' core records, conducting independent audits of financial transactions, continuously monitoring suspicious activities through automated systems, and reviewing preparedness measures to deal with cyberattacks.