BY YESMAN ANTOH-
NEW AFRICA BUSINESS NEWS, Accra, Ghana- THE PRESIDENT of Ghana, Nana Addo Danquah Akufo-Addo has sent a strong warning to digital fraudsters that his administration will wage a war against their efforts and activities in order to safeguard the digital economy of the country.
Addressing the opening ceremony of the a-three-day Society for Worldwide Interbank Financial Telecommunications (SWIFT) African Regional Conference under the theme: “Enabling the Digital Economy,” at the Kempinski Gold Coast Hotel in Accra, the President said, the evolution of technology has a down side.
“The world over, cyber-attacks on digital payment platforms have become sophisticated and it is important that we close ranks to deal with this new emerging threats lest we risk the erosion of confidence in our financial payment system,” Nana Akufo-Addo said.
He said, “Just as technology offers opportunities to grow our economies and bring progress to our people, there are criminal syndicates who will always be bent on exploiting it for their selfish interests.”
Search for digital solutions
The President urged the over 500 financial service representatives from across the industry in Africa, to use the 26th edition of the SWIFT African Regional Conference to find strategic solutions to the digital financial challenges in Africa.
“This conference should serve as a guide to strengthen the future of the African financial industry. I believe in this room, we have a distinguished gathering who will share on some of the critical issues to spurn our continent towards the path of full digitisation of her economies,” he stated.
Governor of the Bank of Ghana
The Governor of the Bank of Ghana, Dr Ernest Addison, in his address indicated the government through the Bank of Ghana is on course to delivering change to customers of banks in Ghana by harnessing new technologies and the development of alternative strategies.
The Central Bank, he said, will continue to leverage on sound regulatory frameworks to ensure that the country’s economy remains stable.
SWIFTgpi is the new norm for cross-border payments and will achieve global adoption in 2020. Adding that SWIFT connects financial institutions across the globe and enable them to transact business securely.
SWIFT offers a broad new collection of financial crime compliance products to help tackle financial crime head-on. With customers in more than 200 countries using its compliance services. It helps institutions to set the standard in terms of effective regulatory compliance, greater transparency, more efficient operations, fraud prevention and control.
BY YESMAN ANTOH, NEW AFRICA BUSINESS NEWS, BUSINESS & POLITICS, GLOBAL CORRESPONDENT
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