Central Bank of Armenia: Cyberattacks can be ordered like pizza
22.10.2025,
14:17
Cyberthreats to Armenia's banking system have changed dramatically in recent years – while the country was previously considered unattractive to hackers, today massive cyberattacks are available as a regular service.
YEREVAN, October 22. /ARKA/. Cyberthreats to Armenia's banking system have changed dramatically in recent years – while the country was previously considered unattractive to hackers, today massive cyberattacks are available as a regular service.
"Unfortunately, today a cyberattack is as accessible as ordering a pizza. There are numerous services where you can order a massive phishing or DDoS attack," Komitas Stepanyan, head of the CBA's IT and Cybersecurity Directorate, said in an interview with Novosti-Armenia.
According to him, ten years ago, many considered Armenia a small country, unattractive to cybercriminals, and the level of online transactions was very low. However, the rapid digitalization that has occurred both in the country as a whole and in the financial sector in particular has created new threats.
"If you imagine the internet as an ocean, we were once a lake with no outlet to the ocean, but now we've become a sea, connected to the ocean, albeit through a thin channel," Stepanyan explained.
He emphasized that today's cyberattacks may not be aimed directly at the target organization, but at its service providers, who lack sufficient resources for effective protection.
According to him, a simple phishing email or cyberintrusion into the provider's products can allow criminals to reach the target organization.
"Unfortunately, today a cyberattack is as accessible as ordering a pizza. There are numerous services where you can order a massive phishing or DDoS attack," Komitas Stepanyan, head of the CBA's IT and Cybersecurity Directorate, said in an interview with Novosti-Armenia.
According to him, ten years ago, many considered Armenia a small country, unattractive to cybercriminals, and the level of online transactions was very low. However, the rapid digitalization that has occurred both in the country as a whole and in the financial sector in particular has created new threats.
"If you imagine the internet as an ocean, we were once a lake with no outlet to the ocean, but now we've become a sea, connected to the ocean, albeit through a thin channel," Stepanyan explained.
He emphasized that today's cyberattacks may not be aimed directly at the target organization, but at its service providers, who lack sufficient resources for effective protection.
According to him, a simple phishing email or cyberintrusion into the provider's products can allow criminals to reach the target organization.