The Central Bank of Kenya (CBK) has launched a new facility called the Banking Sector Cybersecurity Operations Centre (BS-SOC) to protect the country’s financial system from growing cyber threats. The centre will operate under CBK’s Cyber Fusion Unit, which specialises in managing cybersecurity tools, conducting threat research, and analysing data to prevent attacks like fraud and ransomware targeting banks and individual account holders.
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CBK said the BS-SOC will provide services such as cyber threat intelligence, incident response, digital forensics, and cyber investigations. These services aim to strengthen the resilience of banks against increasingly sophisticated cybercriminals.
The regulator also announced that it is aligning the 2017 Commercial Banks Cybersecurity Guidelines and the 2019 Payment Service Providers Cybersecurity Guidelines with the new 2024 regulations. Until this harmonisation is complete, banks and payment service providers must follow both sets of guidelines and report cybersecurity incidents to the BS-SOC within the legally required timelines.
CBK emphasised that the success of the initiative depends on full cooperation from all stakeholders. The move comes as financial institutions continue to face hacking attempts that threaten customer accounts and banking operations.
In addition, CBK recently cautioned banks against adopting artificial intelligence (AI) too quickly without addressing legal, ethical, and operational risks. While AI offers benefits such as faster decision-making, improved fraud detection, and personalised services, CBK warned that improper use could compromise consumer trust and financial stability.
The establishment of the BS-SOC is expected to boost the security of Kenya’s banking sector and protect customers from cyber threats while promoting responsible use of new technologies.
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