Kathmandu – Experts have stated that Nepal’s financial sector is at high risk of cyber attacks. This was shared by experts at a program organized in collaboration with the Nepal Association for Software and IT Services Companies (NASIT) and the Technology Journalists Forum (TJF), with management by Lagpoint, held in Kathmandu.
In the training program, Roshan Pokhrel, Chief Security Information Officer at Lagpoint, a company working in cybersecurity, explained that although technological development has made life easier, Nepal’s situation remains at risk of cyber attacks due to insufficient vigilance. He discussed the types of cyber attacks that could happen in different sectors in Nepal and how to protect against them.
He mentioned the lack of awareness about cybersecurity in Nepal and how scams are happening through various mediums. He highlighted the basic elements of cybersecurity, providing information on how to stay safe and how to help others stay safe.
In the training, Basudev Rawat, Director of Product Management at Lagpoint, provided information on topics such as confidentiality, integrity, and availability in cybersecurity. He discussed the nature of cyber attacks, the challenges they present, and how to manage them. He also gave insights on how and why cyber attack incidents occur, what can be learned from other countries, and which countries and sectors are most at risk.
Similarly, Prabhat Pokhrel, CEO of BIZSURF IT, provided an overview of the cybersecurity situation in Nepal. He noted the increasing rate of cyber attacks in the country and stressed that awareness programs on security should be conducted at the school level. With the growing number of internet users and the expansion of the e-commerce sector in Nepal, he pointed out that these sectors are increasingly becoming targets for cybercriminals, adding more risks and challenges.
He explained that most attacks occur in developed countries, where the aim is to gain access to data. In these countries, crucial information and data are handled by security agencies, politicians, and journalists, making them prime targets.
Globally, military, financial, and commercial sectors face frequent cyber attacks, but in Nepal, the banking and e-commerce sectors are the most vulnerable.
Deepen Chapagai, General Secretary of NASIT, noted that there is a lack of experts in the latest technologies and cyber risks in Nepal, and the risks faced by Nepal and Nepali citizens could affect everyone.
Prakash Thapa, Director of Lagpoint, mentioned that the company has been working in the technology field for the past 15 years, with its main markets in Europe and America. He expressed commitment to cooperating with the government and relevant bodies to help mitigate risks based on their experiences with cybersecurity in these regions when necessary.
Likewise, Abhay Paudel, Treasurer of NASIT, stated that with the development of technology, security challenges have also increased, and it is necessary to provide correct information to users and collaborate with policymakers.
