With this in mind, SBP has issued various regulations and Page 7 of 10  guidelines including the frameworks for Enterprise Technology Governance and Risk Management, Security of Internet Banking and Payment Cards, Prevention against Cyber-Attack, and Risk Management in Outsourcing Arrangements by Financial Institutions.
The NBS, however, took a few steps even before the recent events took place: a) as of the next year financial institutions will have to disclose earnings of all members of their management and executive boards in their annual reports, b) when the NBS provides financial support to such institutions, this will not only result in cutting wages of members of management boards (German example), but will also set the scene for their dismissal, and c) we have strengthened significantly the role of internal audit in all financial institutions within the remit of the NBS.