Zambia’s central bank has allayed fears that its operations have been severely compromised after cyber criminals hacked into its systems.
The Bank of Zambia suffered a cyberattack on May 9 by ransomware operated by a group called Hive. The software is usually used to steal data and encrypt its victim’s files, leaving a note requesting payment, according to experts.
Bank of Zambia information and communication technology head Greg Nsofu, however, said late Wednesday that there has been minimal damage to its operations and that “all of the bank’s core systems are still up and running” despite the cybersecurity breach.
“Not much sensitive data has actually been shipped out,” Nsofu said.
The attack disrupted some systems at the bank such as the bureau de change monitoring system and the website.
He revealed that due to the minimal damage to its system, the bank had, therefore, refused to pay ransom to the cyber attackers.
“Knowing that we had protected our core systems, it wasn’t really necessary for us to even engage” in a ransom conversation, Nsofu said.
“So we pretty much told them where to get off.”