Ghana has lost $97 million to cybercrime as at August 2018 hence the strategy to invest in a policy by the Bank of Ghana to curb the menace.
Ghana’s Deputy Finance Minister, Kwaku Kwarteng
This follows an announcement that, the country will launch a cybersecurity fund in 2019 to ensure there is enough funds to fight the menace.
Earlier this year, the Bank of Ghana rolled out a Cyber Security Guidelines for the financial sector. This therefore has triggered the government to realise the need to fund the approach to curb the menace.
Statistics from the cybercrime unit of the CID disclosed that the country has lost about $25 million in 2016 increasing to some 69 million dollars in 2017.
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He further revealed that as at August this year, the loss to cybercrime was as high as $97 million.
The Deputy Minister who was speaking at the Ghana Club 100 Awards on Friday, November 23, said, “with increased mobile money transactions across the country and various e-commerce platforms both nationally and internationally, it is essential to protect patrons from fraud”, adding that, “to curb this canker, therefore, Government of Ghana has launched and will in 2019 introduce the cyber security fund to ensure that there is enough funding for safe ecological ecosystem”.
The minister further indicated that “the evidence of the work that government has done over the past 22 months, will continue to manage an economy that has recovered from government overspending and physical indiscipline, and the shocks associated with them as well as the financial sector unsoundness.”
