$97m lost to cybercrime as of August 2018 – Kwaku Kwarteng

Business News of Monday, 26 November 2018

Source: Starrfmonline.com

2018-11-26

Kwaku Kwarteng

Government has revealed it will launch a cybersecurity fund in 2019 to ensure there is enough funds to fight the menace.

This comes on the back of the rollout of the Cyber Security Guidelines for the financial sector by the Central Bank.

Statistics from the cybercrime unit of the CID revealed that the country has lost about 25milllion dollars in 2016 increasing to some 69 million dollars in 2017.

This was disclosed by the Deputy Finance Minister Kwaku Kwarteng at the Ghana Club 100 Awards.

He further revealed that as at August this year, the loss to cybercrime was as high as 97 million dollars.

The Deputy Minister said “with increased mobile money transactions across the country and various e-commerce platforms both nationally and internationally, it is essential to protect patrons from fraud. To curb this canker, therefore, Government of Ghana has launched and will in 2019 introduce the cyber security fund to ensure that there is enough funding for safe ecological ecosystem”.

He added, “the evidence of the work that government has done over the past 22 months, will continue to manage an economy that has recovered from government overspending and physical indiscipline, and the shocks associated with them as well as the financial sector unsoundness.”

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