Global payment platform, Mastercard has entered into a partnership with the Ghana Cyber Security Authority (CSA) in a bid to fight cyber fraud in the West African country.
The partnership which was sealed with the first-ever Fraud and Cyber Security Forum in Ghana, held during the week, and brought together key players in the Ghanaian tech ecosystem, including financial institutions, regulators and fintech, who examined the latest fraud trends and address crucial aspects of cybersecurity in Ghana.
The forum covered the latest attack methods utilized by cyber criminals, the assets they target, and the motivation behind such attacks, with a specific focus on the financial services sector.
Mastercard Country Director for Ghana, Bossman Kwapong, in his keynote address, said with the increased adoption of digital services, new payment flows, and connected supply chains, cyber risk was one of the top risks faced by organizations.
“It is essential that this risk is well understood and managed by organizations to protect themselves and their customers,” he said.
“The threat of cybercrime is also growing, with identity theft, ransomware, and phishing attacks becoming more common.
“Mastercard recognizes the seriousness of these threats and places a high priority on fraud prevention and cybersecurity in all the countries where it operates, including Ghana.
“We must help businesses prepare for cyber-attacks and decrease financial risk by identifying data breaches, assessing cyber threats, and acting on insights.
“As the digital economy grows, so do the intentions of cyber criminals who are ready to exploit weak links. Our partnership with the Cyber Security Authority of Ghana, is a significant step towards ensuring the safety and security of our partners and customers,” Kwapong said.