President Nana Addo Dankwa Akufo-Addo has sent a strong signal to digital fraudsters that his administration will wage a relentless war against their efforts and activities in order to safeguard the digital economy of the country.
Addressing the opening ceremony of a three-day SWIFT African Regional Conference under the theme: “Enabling the Digital Economy”, at the Kempinski Gold Coast, President Akufo Addo said “the evolution of technological innovations have a downside” and that “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 threat lest we risk the erosion of confidence in our financial Payment system”.
“Just as technology offers opportunities to grow our economies and bring progress to our people, there are criminal syndicates who will always be burnt on exploiting it for their selfish interests. They have to be relentlessly fought” President Akufo-Addo said.
Search for Digital Solutions
The President additionally, urged the over 500 financial service representatives from across the industry in Africa, to use the 26th edition of the SWIFT African Regional Conference (ARC), to find strategic solutions to the digital financial challenges in Africa.
“This conference should serve as the Fulcrum to strengthen the future of the African financial industry. I believe in this room, we have a distinguished gathering who will share their perspectives on some of the critical issues to spare our continent towards the path of full digitization of her economies” President Akufo Addo stated.
Governor of the Bank of Ghana
Governor of the Bank of Ghana, Dr. Ernest Addison in his opening address indicated that 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 says will continue to leverage on sound regulatory frames works 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. SWIFT connects financial institutions across the globe, enabling them to transact business securely.
SWIFT offers a broad suite of financial crime compliance products to help tackle financial crime head-on. With customers in more than 200 countries using its compliance services portfolio, SWIFT help institutions to set the standard in terms of effective regulatory compliance, greater transparency, more efficient operations, fraud prevention, and control.