Bangladesh Bank Governor Md. Mostakur Rahman has expressed concern over the cybersecurity preparedness of the country’s commercial banks, saying their security systems have yet to reach the expected standard.

Speaking at an event organized by the Ministry of Posts, Telecommunications and Information Technology on Tuesday (August 4), the governor said the existing weaknesses in the banking sector’s cybersecurity remain a constant concern for the central bank.

He noted that although digital transactions in the banking sector have increased significantly, many commercial banks have not yet developed the level of cybersecurity capability needed to effectively address emerging cyber threats. As a result, Bangladesh Bank continues to remain on high alert against potential cyber risks.

At the same event, the Prime Minister’s Adviser on Posts, Telecommunications and Information Technology, Rehan Asif Asad, warned that cyberattacks are likely to become more frequent and sophisticated in the future. He said the information security infrastructure of many government institutions is still at a basic stage and stressed the need for coordinated efforts between the public and private sectors to strengthen the country’s cybersecurity framework.

Meanwhile, Posts, Telecommunications and Information Technology Minister Fakir Mahbub Anam said the government would take strict measures against online bullying, misinformation, and abusive content spread under the guise of freedom of expression.

He also announced that the government will soon hold meetings with representatives of major social media platforms, including Meta and Google, to discuss measures to curb the spread of false propaganda and misleading content targeting the government.