The State Bank of Pakistan (SBP) has resolved to use Virtual Private Network (VPN) technology for Data Acquisition Portal (DAP) connectivity in order to further reinforce the system’s security.
Currently, all DAP access is secured using Multi-Factor Authentication, which includes a User ID, Password, and a client-side Digital Certificate. SBP recently adopted a One-Time Password (OTP) via a facility for subscribers’ registered mobile phones.
The move to VPN tech will not only make user administration easier, but it will also improve the efficiency and efficacy of support operations at both SBP and REs.
It bears mentioning that in order to centralize data reporting from its regulated financial institutions, the SBP launched the Data Acquisition Portal in 2011. DAP’s access method has been upgraded over time by incorporating cutting-edge technology to improve security.
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Written by the expert legal team at Javid Law Associates. Our team specializes in corporate law, tax compliance, and business registration services across Pakistan.
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