TIRANA, October 30 /ATA/ The Special Commission “To coordinate and supervise all institutional actions to combat disinformation and other forms of foreign interference in the country’s democratic processes”, held a hearing session today with Governor of the Bank of Albania Gent Sejko.
During his speech, Governor Sejko focused on the work that the Central Bank has done to increase information and transparency with the public. He mentioned the use of a number of media channels for conveying the clearest possible explanation of the Bank’s role, its objective in maintaining of financial stability and the fulfillment of these objectives.
He said that disinformation can seriously damage a country’s financial stability by misinforming citizens and businesses about the safety and stability of the banks as well as the safety of their savings.
“In this context, disinformation is as dangerous as the cyber-attacks”, said the Governor.
Sejko highlighted the fact that, “The mission of the Bank of Albania is to maintain price stability through monetary policy as the main factor in the country’s economic growth. To meet this purpose, the Bank of Albania exercises a number of important functions, contributing to the financial system being stable and citizens’ money being safe”.
He emphasized the investment in infrastructure systems to have the highest possible protection of information security.
The Bank of Albania is in the process of updating the regulatory framework for the protection of information technology risk and cyber risk.
“In cooperation with the technical assistance office of the US Treasury Department, there is being carried out the review and adaptation of the EU regulation, Dora, for a more complete approach to the regulation of technology and information and cyber risk supervision. This regulation is expected to be approved by the Supervisory Council of the Central Bank next month”, said Sejko.
Further on, Sejko said that there have been cyber-attacks, but the system has resisted them.
Sejko said that, “There have been continuous cyber-attacks. There have been two categories of interventions, interventions with attacks on the technology and information systems of the second tier banks and the Bank of Albania, the entire financial system”.
“The second intervention is through misinformation that aims to create panic and misinform customers of second tier banks and citizens regarding the financial situation.
Both are equally dangerous. The banking system, despite these interventions, has been stable and has not been hurt. Except for one case that has been managed, but that doesn’t mean we have to feel sure. Therefore, we have taken measures and are working with second tier banks”, the Governor emphasized.
Sejko said that in the last two years, the cyber-attacks on the banking system have increased.
“In one case, there was a strong cyber-attack against a bank that did not compromise the bank accounts, as a result of the measures taken, but the information, the data. But, thanks to the coordination of the work and strengthening of the measures by the 11 commercial banks, the banking system has been immune to cyber-attacks”. /a.f/r.e/p.s./
