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HomeAsiaBank Hacking in Asia: The Battle Against Cybercrime in 2022

Bank Hacking in Asia: The Battle Against Cybercrime in 2022

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In 2022, bank hacking continued to be a major issue in Asia, as cybercriminals target financial institutions in search of valuable information and funds.

The consequences of a successful bank hack can be devastating, including the loss of personal and financial data, as well as significant financial losses for both the bank and its customers. In this article, we will examine the latest statistics on bank hacking in Asia and the steps being taken to address the problem.

According to a recent study, the number of reported bank hacks in Asia increased by 40% in 2022 compared to the previous year. This has resulted in significant losses for affected financial institutions, with the average cost of a bank hack estimated to be around $10 million.

One of the key factors contributing to the rise in bank hacks in Asia is the increasing use of digital technologies. With the shift towards online banking and mobile banking, there are more opportunities for cybercriminals to compromise bank systems and steal valuable information. Additionally, many financial institutions in Asia are still using outdated security protocols, making them more vulnerable to attack.

Another factor contributing to the rise in bank hacks is the increasing sophistication of cybercriminals. Advanced techniques such as phishing scams, malware, and social engineering are becoming increasingly common, making it easier for attackers to compromise a bank’s systems.

To address these challenges, financial institutions in Asia are increasingly turning to advanced cybersecurity technologies and protocols. This includes the use of encryption, firewalls, and multi-factor authentication, among others. Additionally, banks are also investing in employee education and training to raise awareness about the dangers of cybercrime and the steps that can be taken to protect sensitive information.

Conclusion:

The rise in bank hacks in Asia highlights the importance of staying ahead of the latest security threats and investing in the latest cybersecurity technologies and protocols. It is also essential that financial institutions educate their employees and customers about the dangers of cybercrime and take the necessary steps to protect sensitive information. With the right resources in place, it is possible to reduce the risk of a bank hack and create a safer financial environment for everyone.

Ouaissou DEMBELE
Ouaissou DEMBELEhttp://cybercory.com
Ouaissou DEMBELE is a seasoned cybersecurity expert with over 12 years of experience, specializing in purple teaming, governance, risk management, and compliance (GRC). He currently serves as Co-founder & Group CEO of Sainttly Group, a UAE-based conglomerate comprising Saintynet Cybersecurity, Cybercory.com, and CISO Paradise. At Saintynet, where he also acts as General Manager, Ouaissou leads the company’s cybersecurity vision—developing long-term strategies, ensuring regulatory compliance, and guiding clients in identifying and mitigating evolving threats. As CEO, his mission is to empower organizations with resilient, future-ready cybersecurity frameworks while driving innovation, trust, and strategic value across Sainttly Group’s divisions. Before founding Saintynet, Ouaissou held various consulting roles across the MEA region, collaborating with global organizations on security architecture, operations, and compliance programs. He is also an experienced speaker and trainer, frequently sharing his insights at industry conferences and professional events. Ouaissou holds and teaches multiple certifications, including CCNP Security, CEH, CISSP, CISM, CCSP, Security+, ITILv4, PMP, and ISO 27001, in addition to a Master’s Diploma in Network Security (2013). Through his deep expertise and leadership, Ouaissou plays a pivotal role at Cybercory.com as Editor-in-Chief, and remains a trusted advisor to organizations seeking to elevate their cybersecurity posture and resilience in an increasingly complex threat landscape.

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