CBK orders exchange and payment firms to get external cybersecurity assessments

The Central Bank of Kuwait is requiring exchange companies, electronic payment service providers, electronic money service providers, electronic payment system operators and credit information company Cynet to comply with the Cyber and Operational Resilience Framework (CORF) and to obtain its approval before contracting an external auditing firm to assess their compliance, no later than November 30. A compliance assessment report must be submitted within six months of contracting the assessor. Banks were instructed to follow the same procedure last year.