This is a response to cybersecurity threats associated with the rapid expansion of digital technology and financial innovation.
At the roundtable of the 14th Alliance (AFI) held in Accra on June 20, first lieutenant governor Dr Mumuni Zakari said Moore has long been aware of the threats associated with fast technological advancements.
In 2018, he said that one of the faster cyber and information security guidelines for financial institutions for continental and risk-based framework conditions, a protocol for responses in detention and regulatory reporting.
The rapid expansion of digital technology and financial innovation will change our economy. Throughout Ghana and the continent, digital financial services, mobile money, digital credit and banking banks will change lifespans, strengthen small and medium-sized businesses, and expand funding to previously excluded population groups.
However, this conversion poses new risks. Technology that enables access and innovation puts our systems under demanding cyber threats. As supervisors, we are currently commissioned to double responsibility to promote inclusion and at the same time protecting the integrity and resilience of our financial infrastructure.
Cybersecurity: The pillars of integrated funding
This round tablet topic, which strengthens cyber resistance in Africa's digital financial services, is both quick and urgent. Cybercrime is not a far-fetched risk. That's the current danger. In 2022, Ghana alone recorded over 21,000 attempts to cyber fraud in the financial sector. According to Interpol, the cost of cybercrime is estimated across Africa.
This reality highlights a simple truth. Financial integration without system integrity is not sustainable. Cybersecurity is no longer an IT issue, but a strategic order at the heart of financial government. Public trust, institutional trust, and systematic stability rely on the ability to expect, tolerate and respond to cyber risk.
Answer: Embedding resistance by designing
Banks in Ghana have long been aware of this obligation. In 2018, we published one of the continent's earliest cyber and information security guidelines for financial institutions that define risk-based framework conditions. Today, over 40 financial institutions are integrated into our Financial Industry Security Operations Center to enable real-time
Threat detection and reaction.
It is used to inform supervisory measures and identify systematic gaps using international framework conditions such as NIST and COBIT-5. In 2024, over 40% of companies valued exhibited significant weaknesses, particularly in access control and incident response. Address these gaps and deal with targeted interventions.
We don't act alone. We will work closely with the Cybersecurity Bureau, the World Bank, INTERPOL and the Cybersecurity Resource Centre in Africa to enhance expert knowledge and coordinate responses on scale,” he said.