Sri Lanka, April 25 -- Cybersecurity expert Asela Waidyalankara states that technical measures are available to prevent incidents such as hackers gaining access to funds, as seen in the reported cyberattack involving a USD 2.5 million Treasury payment.

He explained that the cyberattack method used in the incident is known as Business Email Compromise (BEC), a tactic that has affected many private sector institutions.

However, Waidyalankara pointed out that because the Central Bank of Sri Lanka (CBSL) has recommended that the domestic banking system obtain ISO 27001-the international standard for Information Security Management Systems-cyberattacks against banks have been minimized.

According to him, if an institution such as the Treasu...