At the 53rd plenary meeting of the Senate of the Oliy Majlis of Uzbekistan, vital amendments to laws in the field of cybersecurity were approved. The press service of the upper house of parliament reported on the need to enhance the level of information security and cybersecurity within the nation's credit institutions, on June 21.
Strengthening Cybersecurity Measures
The amendments aim to empower the Central Bank of Uzbekistan with additional authority to identify and mitigate security and cybersecurity threats posed by various financial entities. These entities include credit and payment institutions, payment system operators, currency exchanges, and credit bureaus. The Central Bank will be responsible for taking preventive measures against such threats, ensuring a robust defense against cyber attacks.
Legal and Administrative Revisions
Key legislative documents were updated to reflect these changes. The Code of Administrative Responsibility and several laws, including “On the Central Bank,” “On Banks and Banking Activities,” “On Banking Secrecy,” “On the Protection of Information in an Automated Banking System,” “On Electronic Government,” “On Payments and Payment Systems,” and “On Non-Bank Credit Organizations and Microfinance Activities,” were amended. These revisions aim to solidify the legal framework surrounding cybersecurity in the banking sector.
Classifying Violations and Setting Goals
The amendments classify violations of legal requirements for ensuring information security and cybersecurity in banking information systems as gross violations. This classification highlights the severity and importance of maintaining stringent cybersecurity measures. Additionally, the law incorporates goals to ensure the security and confidentiality of information systems and resources of banks, as well as the protection of bank secrecy.
Senators emphasized that the adoption of this law will significantly improve information security within both credit and non-bank credit institutions. It will also bolster the security measures within the e-government system, aiding in the prevention of crimes committed using information and communication technologies.
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