Cybersecurity in Nepal's Banking Sector: Gaps, Global Standards, and Policy Alignment

This report examines the current state of cybersecurity in Nepal, highlighting the gaps between existing policies and international standards. As Nepal increasingly digitalizes sectors like banking, government, and education, a strong cybersecurity framework becomes critical. While frameworks such as the Electronic Transaction Act 2063 and the National Cybersecurity Policy 2023 exist, they do not adequately address emerging threats or sector-specific risks. This report compares Nepal’s policies with global standards, including the NIST Cybersecurity Framework, PCI DSS, and ISO 27001, and includes a case study comparing Nepal’s commercial banks with JPMorgan Chase & Co., highlighting areas needing improvement. Practical solutions are suggested, such as developing sector-specific policies, stricter enforcement, leveraging AI for threat detection, and increasing public awareness.