CSA, GAB develop strategies to build resilient digital ecosystem for financial sector

The Cyber Security Authority (CSA) and the Ghana Association of Banks (GAB) have dialogued on the role of banks in ensuring a secure and resilient digital ecosystem for the financial sector.

Present at the meeting were representatives from the Information Security Office of the Bank of Ghana (BoG).

A statement jointly signed by Dr Albert Antwi-Boasiako, Acting Director-General, CSA and Mr John Awuah, Chief Executive Officer, GAB, and copied to the Ghana News Agency, said the parties exchanged views on further strengthening cybersecurity and discussed practical strategies for implementing the Cybersecurity Act 2020 (Act 1038), a possible revision to BoG’s Cyber and Information Security Directive, among various issues of mutual interest.

It said the parties recognised the importance of securing the banking sector, especially the critical systems, as they had been designated as critical information infrastructure (CII) pursuant to Section 35 of the Cybersecurity Act, 2020.

The statement said they further recognised that the BoG was the regulator of the banking and financial services sector and that the CSA only regulated owners of CII with respect to cybersecurity activities as provided in Section 3 (c) of Act 1038.

It said all members of the GAB were designated as owners of CII, hence the need to strengthen collaboration between the GAB, CSA and the BoG.

The statement said the parties agreed that security in the banking sector could be improved if there was effective collaboration and partnerships with other institutions like the Financial Intelligence Centre (FIC), the Economic Organised Crime Office (EOCO), the Criminal Investigations Department (CID), and the Cyber Security Authority, amongst others.

 It said after successful deliberations, CSA and GAB agreed to collaborate more closely on certain critical areas and provide each other with all the necessary assistance for the efficient performance of their functions.

The statement said the meeting concluded with a joint statement outlining the areas of cooperation -the protection of CIIs, Incident response, multi-stakeholder engagement, capacity building and awareness creation.  -GNA

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