Giovanni Russo Lesotho’s Entire Payment System Allegedly Disrupted Following Cyberattack
The Central Bank of Lesotho has officially confirmed that its payment system fell victim to an undisclosed cyberattack. This attack has led to a substantial disruption, rendering it “impossible for all local banks to execute inter-bank transactions within the nation.”
No Financial Loss Incurred
Despite the upheaval caused by the cyber security incident on December 11, the Central Bank of Lesotho (CBL) has asserted that there were “no financial or other losses” incurred as a result. Nevertheless, in an effort to thwart further infiltration by the attackers, the bank has opted to “suspend certain systems.”
While specific details about the magnitude of the attack have not been disclosed by the central bank, one South African media outlet has suggested that both interbank and international payments routed through Lesotho have been disrupted. Another source has indicated that this incident could potentially endanger the stability of Lesotho’s financial system and impact the exchange rate of the local currency against the South African rand.
In a statement released the day following the attack, the Central Bank of Lesotho revealed that it has launched an investigation into the matter and is diligently working towards restoring normalcy.
The CBL remarked, “As a consequence, there may be delays in certain payments while the Bank endeavors to return the systems to their usual functioning.”
Simultaneously, in another statement published on December 13, the CBL, in collaboration with the Lesotho Bankers Association, confirmed that the ongoing downtime is rendering it “impossible for all local banks to facilitate inter-bank transactions within the country.”
Both institutions have subsequently agreed to implement business continuity processes and measures, with the aim of facilitating transactions between banks while they strive to reinstate normal operations.
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Frequently Asked Questions (FAQs) about Cyberattack
What happened in Lesotho’s payment system due to the cyberattack?
The payment system in Lesotho suffered a disruption following a cyberattack on December 11. It made it impossible for local banks to conduct inter-bank transactions.
Were there any financial losses as a result of this cyberattack?
No, the Central Bank of Lesotho confirmed that there were no financial or other losses incurred due to the cyberattack.
What actions have been taken to address the situation?
The Central Bank of Lesotho has suspended certain systems to prevent further infiltration by the attackers. Additionally, an investigation into the incident has been initiated, and efforts are underway to restore normalcy.
How is this disruption affecting interbank transactions in Lesotho?
The disruption is causing significant difficulties for all local banks in honoring inter-bank transactions within the country.
Is there any collaboration to mitigate the impact of this incident?
Yes, the Central Bank of Lesotho, in partnership with the Lesotho Bankers Association, has agreed to implement business continuity processes and measures to facilitate transactions between banks while working to restore normal operations.
More about Cyberattack
- Central Bank of Lesotho
- [South African Media Outlet](Include relevant link if available)
- [Lesotho Bankers Association](Include relevant link if available)
3 comments
interesting story, lesutho’s financial sys is kinda fragile it seems, but good 2 know no $$$ loss.
cyberattacks r gettin’ scarier, hope they catch the attackers and make sure it doesn’t happen again!
wow, cyberattack in lesotho! thats cray, but gd they didnt lose money, but what bout interbank transactions? hope they fix it soon!