Turkmenistan Takes Steps to Boost Cybersecurity in Finance Amid Rising Threats

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Turkmenistan’s Central Bank has introduced new measures to ensure cyber protection and information security, aiming to strengthen the country’s national banking system and protect money transfers.

Strengthening Cybersecurity Measures

According to a document signed by Central Bank Chairman Toily Myalikov, all credit and money transfer organizations operating in Turkmenistan will be required to implement robust cybersecurity systems. This includes:

• Equipping banks with software capable of detecting and preventing network intrusions and attacks
• Implementing measures to prevent unauthorized access to financial information

The Information Security Administrator will be responsible for overseeing the implementation of these measures.

Meeting Cybersecurity Law Requirements

The new requirements are aimed at meeting Turkmenistan’s cybersecurity law, which requires the government to take measures to ensure the protection of its citizens’ personal data and financial information from cyber threats.

Global Cybersecurity Ranking

Turkmenistan currently ranks 164 out of 176 countries in the global cybersecurity ranking, published by the National Cyber Security Index (NCSI). The index takes into account criteria such as:

• Global Cyber Security Index
• Information and Communication Technology Development Index
• Network readiness

Importance of Improving Cyber Resilience

The move is seen as a crucial step towards improving Turkmenistan’s cyber resilience, which has been a major concern in recent years. The government hopes that the new measures will help to protect its citizens’ financial information and prevent potential attacks on its national banking system.

By implementing these new cybersecurity measures, Turkmenistan aims to enhance its cyber protection capabilities and improve its overall cybersecurity posture.