Financial Sector; Prime Target for Cyber-Attacks — Ursula Cautions
Madam Ursula Owusu-Ekuful, Minister for Communications, has said the financial sector continues to be the prime target of cyber-attacks within the country amidst COVID-19.
She said since the outbreak of COVID-19, most corporate institutions had adopted online methods of doing work to avoid the spread of the virus in workplaces.
In view of this, she said most cyber criminals had taken interest to attack mainly financial institutions.
“A report by the Criminal Investigations Department of the Ghana Police Service has indicated that Ghana lost $105 million and $9.8 million to cybercrime in 2018 and 2019, respectively,” she said.
She said this during a speech delivered on her behalf by Mr Alexander K. K. Abban, Deputy Minister of Communication at a forum with industry players on the impact of COVID-19 on the private sector.
She said as a part of measures to combat cybercrime within the financial sector, the Bank of Ghana together with the Ministry of Communications and therefore the National Cyber Security Centre (NCSC) issued a Cyber and knowledge Security Directive to charge financial sector institutions to implement stringent cybersecurity framework and knowledge Security protocols and procedures to make sure cyber-resilience within the banking and finance sector.
She said as Government enables cybersecurity development by implementation of strategic initiatives to make sure the expansion in expertise and knowledge build-up within the private sector, the particular operationalisation of cybersecurity was hooked in to the private sector to guard the critical information infrastructure of the state .
She called on all industry players to interact within the conversation to proffer solutions to make sure security and resilience of organisational systems.
Dr Albert Antwi-Boasiako, National Cybersecurity Advisor, Ghana said assessment conducted by the International Criminal Police Organization (INTERPOL) has shown that major corporations, government and important infrastructure had become major targets for cybercriminals.
He said as more people employed the utilization of data and technology (ICT), businesses and Government institutions, must be mindful of the possible cyber-threats that accompany the increased use of the digital space.
He advised that as corporate entities, the core of their operations, thrived on the shoulders of technology infrastructure and it had been imperative to stay the security and security of systems paramount.
“It is salient that organizations improve upon their cybersecurity posture to form their systems more resilient to cyber-attacks and, build the capacity of their staff within the area of cybersecurity,” he said.
Additionally, he said two critical interventions were introduced by government to enhance cybersecurity development within the private sector including the revision of Ghana’s National Cybersecurity Policy & Strategy and therefore the Introduction of the Cybersecurity Bill.
“And also the Ministry of Communications, through the National Cyber Security Centre would in 2021, commence a public-private sector partnership on cybersecurity with the planet Economic Forum and this initiative would strengthen the collaboration between the govt and therefore the private sector in improving our nation’s cybersecurity readiness,” he said.
Mr C.K Bruce, Chief military officer , Innovare said it had been important to take care of Cybersecurity compliance in institutions to make sure safety.
He said teleworking had become the new normal and therefore the need for control to make sure productivity and safety online.
He said a correct whistle blowing structure was important to make sure good feedback and enforce compliance of staff.
He said social engineering, hacking amongst other methods formed a part of mechanisms employed by cyber fraudsters.
Financial Sector; Prime Target for Cyber-Attacks — Ursula Cautions
Source: modernghana.com
