Cyberattack puts Bank of Valletta in restoration age
Malta’s Bank of Valletta (BOV) is in recovery mode as it deals with a cyberattack that temporarily suspended its operations.
On 13 February, its operations, including branches, were taken offline (or out of service) following a “malicious external attempt on its systems”.
The bank told its clients that customer accounts and their funds were in “no way impacted or compromised”.
The next day (14 February), it managed to resume a number of its services during the night after it did overnight testing of its IT systems.
Customers were able to use services through the bank’s branch network across Malta and Gozo (an island that makes up the Maltese archipelago). These services included ATMs, internet banking, mobile banking and cards.
Its latest update is on 15 February, where it reveals that SEPA payment services are now fully operational.
The bank adds: “BOV is working relentlessly to restore its full payment services as soon as possible.”
BOV was formed in 1974 following an agreement between the Government of Malta and the Malta Development Corporation. In 1992, BOV became the first public company to be listed on the Malta Stock Exchange.
The bank’s financial services are offered through a network of 44 branches and agencies in Malta and Gozo, and through a number of subsidiaries. It has also developed a worldwide network of correspondent banks and has opened representative offices in Australia, Belgium, Italy, and Libya.