Accra, Feb 4, GNA- Mr V L Dosoo, Second Deputy Governor of the Bank of Ghana on Wednesday underscored the need for financial institutions to be more proactive, and seek the appropriate insurance protection against the huge losses from computer fraud.
In an address read for him at a day's seminar on insurance protection for banks and other financial institutions against computer crime and internet fraud in Accra, Mr Dosoo expressed grave concern about recent media reports on computer fraud in the country.
He said "the confidence that has tirelessly been built in our banking system must not be eroded by reports that suggest that we are helpless against computer fraudsters."
The Second Deputy Governor was optimistic that the effective regulation of the insurance sector would ensure that there were stronger and financially sound companies to protect the entire financial sector from losses arising from computer fraud.
Mr Kwaku Agyemang Manu, Deputy Minister of Finance and Economic Planning, gave the assurance of government's determination to "deal with all forms of crime in our banking and other financial institutions."
Mr Manu pointed out that since fraudulent electronic commerce otherwise known as computer fraud knew no boundaries, there was the need "to rethink our information protection strategies."
Miss Josephine Amoah, Commissioner of Insurance blamed the low publicity on computer crimes on victims' reluctance to report for fear that weaknesses in their systems would be exposed, thus resulting in the loss of customer confidence and patronage in their services.
Miss Amoah commended the organisers of the seminar, KEK Insurance Brokers and AON of South Africa, for the joint and collaborative effort in initiating moves to address the issue of computer and internet crime in the country.
