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Iran's Central Bank Outlines Anti-Cybercrime Initiative

Iran's Central Bank Outlines Anti-Cybercrime Initiative
Iran's Central Bank Outlines Anti-Cybercrime Initiative

Officials from the Central Bank of Iran and the judiciary have discussed the state of cyber security in financial markets.

Davoud Mohammad Beigi, director of CBI’s department for payment networks, elaborated the measures taken by the central bank to prevent cyber crime in the past twelve months.

“We have been focusing on reinforcing infrastructure needed for easing the process of transactions, and improving our interaction with other bodies, especially related to online transactions,” CBI's website quoted him as saying on Friday.  

He pointed to the CBI's ten-point program to enhance cyber security of financial markets and said, “Linking the banking network to the online database of the National Organization of Civil Registration, and using the database for identifying customers is one of the key CBI achievements.”

The CBI has also launched a center for issuing root certificate for banking operations, Beigi said. “Currently, individuals need to register with the center and get an electronic signature for access to some of the interbank services.”

“Currently 40 offices across the country are offering electronic signature solutions for use in the banking network,” he said. “The CBI is also working to make it possible for bank customers to get the certificates through their SIM cards.”

The official went on to elaborate on CBI’s new platform 'KASHEF' (meaning 'detector' in Farsi), saying that the platform aims to link the banking sector to other organizations.

“KASHEF is fully developed, but it is not yet integrated with all the organizations.”

By digitalizing banking documents, KASHEF aims to make it more difficult to forge documents. Banks are required to record all their daily operations and their customers’ data in the platform.

The official went on to say that all banks are now required to install anti-skimmer modules on their ATM devices. “Our inquiries show that banks are following the regulations.”

“We have recorded considerable growth in interbank electronic services, such as Checkavak which recorded a 100% growth in the number of transactions [during the last fiscal year that ended in March.]”

Checkavak is an electronic check management system, used for eliminating the circulation of physical checks in the inter-bank system and increasing check credibility. Checkavak has digitalized the verification of checks and the clients’ financial status, providing banks with instant access to data.

Organizing Online Businesses

Mohammad Beigi also referred to plans to organize the operation of online businesses. “We have been holding meetings with Iran Center for E-commerce Development and the judiciary to devise a [legal] framework for e-businesses.”

“The framework will hopefully be finalized by the end of the current fiscal year (March 2017).”

The official stressed the importance of educating the public for preventing cyber crime. “The CBI has formed a committee for creating educational content including TV programs, animations and informative texts about electronic banking services to help spread awareness."

Action Needed

Alireza Savari, a senior official with the judiciary, urged executive bodies to double their efforts in implementing the regulations.

 “The cyber security platform was finalized 30 months ago, but implementation of the regulations demands synergic interaction between executive bodies.

“At the moment, there are several databases developed and used by a variety of organizations. But they are not inter-connected."

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