Kathmandu. Deputy Governor of Nepal Rastra Bank, Bam Bahadur Mishra, has emphasized the need for strengthening cyber risk management systems in banks and financial institutions to make the digital financial system safe and sustainable.
Addressing the inaugural session of the national workshop on “Strengthening Cyber Security Resilience in Nepal” organized in collaboration with Nepal Bankers’ Association (NBA) and Visa, Deputy Governor Mishra said that cyber risk is increasing rapidly with the expansion of digital transactions. He stressed on the need of coordination among regulators, banks, security bodies and the private sector.
The workshop was attended by high-level representatives from Ministry of Communications and Information Technology, Directorate of Cyber Security of Nepal Army, Nepal Rastra Bank, Nepal Police, International Finance Corporation (IFC) among others, reflecting their shared commitment to safeguarding the digital economy.
On the occasion, Nepal Police’s Cyber Bureau presented a presentation on the topic “New Trends in Cyber-Enabled Fraud and Scams: Nepali Context”, presenting the current risk situation and challenges in law enforcement. Visa also highlighted cybersecurity measures based on global best practices and collaborations on the theme “Building a Safer Digital Future”.
In a panel discussion on “Building an Integrated National Cyber Security System: Roles, Responsibilities and Way Forward”, experts from the banking sector, regulatory bodies and cyber security experts stressed on the need for strengthening inter-agency coordination, capacity building and public-private partnerships.
In the closing session, Mr. Vaibhav Taranekar, Vice President and COO, Visa India & South Asia, delivered the vote of thanks and announced a new capacity building initiative to conduct specialized cybersecurity training across all seven provinces of Nepal.
The workshop has provided an important platform for knowledge sharing, policy dialogue, and collaboration on cybersecurity amidst the growing digital vulnerabilities of Nepal.
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