Bank of Ghana to review cybersecurity compliance of commercial banks
The Bank of Ghana (BoG) says it will undertake thematic reviews of banks’ compliance with its revised Cyber and Information Security Directive amid growing concerns about digital fraud, cyber threats and other risks associated with digital financial services. The post Bank of Ghana to review cybersecurity compliance of commercial banks appeared first on Ghana Business News .
The Bank of Ghana (BoG) has announced it will conduct reviews to ensure commercial banks adhere to its updated Cyber and Information Security Directive, as concerns over digital fraud and cyber threats continue to rise. Dr. Johnson Pandit Asiama, Governor of the BoG, highlighted the growing focus on cybersecurity, data protection, cloud computing, third-party dependencies, and operational resilience during the 43rd Annual General Meeting of the Ghana Association of Banks in Accra.
He emphasized that digitalization has enhanced financial services efficiency and convenience but also introduces new risk channels. The BoG has been collaborating with industry stakeholders to implement the revised directive and urged banks to view cybersecurity and operational resilience as core business risks. Dr. Asiama encouraged bank boards and senior management to prioritize cybersecurity as a fundamental aspect of their risk management frameworks.
As the financial environment evolves, regulatory frameworks must adapt to emerging threats, and the BoG's reviews are part of its broader commitment to strengthen the resilience of financial institutions amid digital transformation.
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