Home Business A Strategy to Curb Cybercrimes-2nd Deputy Governor of the Bank of Ghana

A Strategy to Curb Cybercrimes-2nd Deputy Governor of the Bank of Ghana

by The Ghana HIT

Speaking at the Alliance for Financial Inclusion High-Level Joint Learning Programme on Inclusive FinTech Ecosystems and Cybersecurity, Mrs. Elsie Addo Awadzi, the 2nd deputy governor of the Bank of Ghana (BOG), shade light on the necessity of having cross-border information sharing cooperation to curb the financial sector cybercrime as a strategy to curb cybercrimes.

While sharing the BOG’s strategy to curb cybercrimes, Mrs.Awadzi revealed that strong cooperation frameworks with vital stakeholders have already been put in place. “Information is shared between BoG and the national authorities frequently. BoG engages with other financial sector regulators bilaterally and at the level of the Financial Stability Council, whose mandate is to promote regulatory cooperation, financial system-wide risk mitigation, and crisis preparedness,” said Awadzi.

In a bid to mitigate insider fraud, the central bank has been at the forefront in stressing the necessity of having a diligent recruitment and outsourcing framework by the payments systems operators and financial institutions, besides developing a strategy to curb cybercrimes.

The 2nd deputy governor further confirmed that the central bank has been empowering consumers to take responsibility for their financial transactions by educating them as well as urging service providers and operators to be vigilant all through.

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