BoG intensifies protection against cyber attacks

pulse-ghana admin

June 1, 2017 2:12 PM

Ghana's Central Bank has disclosed plan to secure financial institutions

___6770969___https:______static.pulse.com.gh___webservice___escenic___binary___6770969___2017___6___1___16___file6v6ow6tt6pu4vvcg92d

Bank of Ghana (BoG) has committed to strengthening security mechanisms to safeguard the nation’s financial system from cyber attacks.

Ghana’s central bank has therefore contracted the services of a provider to help secure the data of financial institutions registered under them.

Mr. Millison Narh, First Deputy Governor of the Bank of Ghana, who made the announcement explained that this initiative was necessary to clean out Ghana’s financial space at a time that it is gaining much patronage.

“We have already procured the services of a provider and they are working seriously towards helping the sector to have control over these cyber attacks that are now very rampant and are destroying many financial systems,” he stated.

He was speaking at the 10th anniversary of the Ghana Interbank Payment and Settlement Systems(GhIPSS) at the Movenpick Hotel in Accra when he made the announcement.

Mr. Narh reiterated the bank’s effort to intensifying the control by the regulator to protect the data of financial institutions.

Although Ghana was not a victim of the recent cyber-attack that affected over one hundred computers in 99 countries, it has become expedient that our cyber space has a nation be strengthened.

The Deputy Governor also highlighted that the Central Bank is developing advanced processes on guidelines on protecting critical data

“The Bank of Ghana is also in the process of issuing guidelines for the establishment of cyber security protocols and procedures for routine and emerging scenarios, physical security measures for IT centers and control rooms to ensure data security at the highest level,” he added.

The bank would however continue to protect consumers as well as service providers through its regular monitoring.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

pulse-ghana admin