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    World Trade Centre Accra Accra announces partnership with Altkom Akademia to offer professional education in Africa

    Ghana has the 4th cheapest average cost of internet in Africa – Statista

    Africa’s internet economy to cross $180 billion by 2025: Report

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

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    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

  • TECHNOLOGY

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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Banks must prioritize fight against cyber fraud—Zenith Bank CEO

byLawrence Segbefia
April 8, 2019
in Banking And Finance, General, Local Economy
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The Managing Director and CEO of Zenith Bank Henry Oroh has called on stakeholders in the banking sector to prioritize investment into systems and structures that will give them utmost protection from the rising incidence of cyber fraud in the country.

Ghana lost over $220 million dollars to recorded cybercrime cases between 2016 and 2018, according to figures available at the Cybercrime Unit of the Criminal Investigation Department (CID) of the Ghana Police Service.

In an interview with Citi Business News on the worrying phenomena of cyber-crime Mr. Oroh said banks need to ensure that as they roll out new digital products they make the needed investment to ensure customers are safe when using such products.

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“As we invest in deploying the digital products, it’s the same way we have to invest in protecting our customers and our banks. Last year for example Zenith Bank went through a number of certification processes, all in an effort to provide security to safeguard ourselves and our customers from cyber fraud. We invest a lot more money in providing security for our products than we spend in developing the products.”

Cyber Security in Ghana

In Ghana, cyber-attacks such as phishing, and website defacement, have been encountered by government agencies thus raising the discussions on the need to strengthen national cybersecurity efforts.

The 2016 Global Cyber Security Index, showed that half of the world’s population used the Internet for various purposes, with an estimation that by the year 2020, devices that would be connected to the Internet would hit 12 billion.

Also a cybersecurity maturity study, commissioned by the Ministry of Communications and conducted by the Global Cyber Security Capacity Centre (GCSCC) of the University of Oxford in collaboration with the World Bank, has described Ghana’s cybersecurity maturity level at a formative stage based on the Cyber Security Capacity Maturity Model for nations adopted for the study.

In that regard, some stakeholders say there is the need to put measures in place to ensure safer cyber hygienic practices to promote a secured digital ecosystem for all users, including children, adults, businesses and governments.

–

By: Bobbie Osei/citibusinessnews.com/Ghana and The Finder

 

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