Banks in Jordan Take Stepped-Up Approach to Prevent Fraud Amid Growing Cyber Threats

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A Proactive Stance Against Cyber Risks

The Central Bank of Jordan (CBJ) has taken a proactive stance to safeguard its infrastructure and environment amidst the rapid expansion of digitized services in the financial industry.

Introducing the “Cybersecurity Framework for the Financial Sector”

The CBJ has announced the completion of the first version of the “Cybersecurity Framework for the Financial Sector”, a comprehensive guide aimed at mitigating cyber risks faced by the sector. This framework is the result of close collaboration between the CBJ and banking sector members in Jordan.

Key Objectives

• Provide a better understanding of the evolving cyber threat landscape
• Outline essential procedures and requirements to ensure a cyber-resilient sectoral infrastructure
• Emphasize the importance of adopting risk-based controls to prevent potential breaches

FinCERT: A Collaborative Team for Cybersecurity

FinCERT, a collaborative team led by the CBJ with membership from Jordanian banks, is at the forefront of this initiative. The organization is dedicated to promoting information sharing and analysis among its members to enhance their response to cyber incidents and threats.

Key Initiatives

• Establishment of a sectoral information sharing and analytical platform
  • Facilitates timely dissemination of vital information on global and local incidents, threats, and vulnerabilities
  • Enables banks in Jordan to stay ahead of the curve in combating fraud and protecting their customers’ sensitive data

Availability of the Cybersecurity Framework

The “Cybersecurity Framework for the Financial Sector” is now available for download, providing a valuable resource for financial institutions seeking to strengthen their defenses against cyber attacks.