Financial Crime World

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Jordanian Central Bank Unveils Cybersecurity Framework to Combat Banking Fraud

Amman - In a bid to combat the growing threat of cyber attacks in the financial sector, the Central Bank of Jordan has announced the completion of its “Cybersecurity Framework for the Financial Sector”.

The framework aims to provide a comprehensive understanding of the cyber threat landscape facing the banking industry and outlines measures to ensure a secure infrastructure. This collaborative effort between the CBJ and Jordanian banks under the umbrella of FinCERT, a joint initiative aimed at sharing information and expertise in combating cyber threats.

Key Features of the Framework

  • Provides a comprehensive understanding of the cyber threat landscape facing the banking industry
  • Outlines measures to ensure a secure infrastructure
  • Designed to be risk-based, allowing banks to tailor their cybersecurity measures to their specific needs and vulnerabilities
  • Emphasizes the importance of information sharing and collaboration in detecting and responding to cyber incidents

Benefits for Banks

  • Helps members of the financial sector better understand and manage the risks associated with digital services
  • Implements effective controls to prevent fraud
  • Enhances the overall security and resilience of Jordan’s banking industry

Quotes from a Senior Official at the CBJ

“The Cybersecurity Framework for the Financial Sector is a major step forward in our efforts to protect the financial sector from the growing threat of cyber attacks. We believe that by working together, we can create a more secure and resilient infrastructure for Jordan’s banking industry.”

Availability of the Framework

The framework is available for download on the CBJ website and is expected to be widely adopted by banks in Jordan.

Note: I’ve used headings (e.g. Jordanian Central Bank Unveils Cybersecurity Framework to Combat Banking Fraud), subheadings (e.g. Key Features of the Framework) and bullet points (e.g. * Provides a comprehensive understanding…*) as per Markdown format. Let me know if you need any further changes!