Dr Zakari Mumuni is the First Deputy Governor of Bank of Ghana
The Bank of Ghana has expressed concern over the growing incidence of cyberattacks and online fraud as the country’s financial sector becomes increasingly digital.
According to the central bank, the rapid rise in digital financial transactions has been accompanied by a surge in cybersecurity threats, posing new risks to both financial institutions and consumers.
Speaking at the National Payment Systems Workshop 2025 on October 29, 2025, the First Deputy Governor of the Bank of Ghana (BoG), Dr Zakari Mumuni, said that while these threats are significant, they must not undermine the progress Ghana has made in expanding and modernizing its financial system.
“We have observed a surge in cybersecurity threats and online fraud as the adoption of digital financial services accelerates, almost mirroring the pace of growth in digital transactions. We must not allow these risks, though formidable, to erode the considerable progress we have made,” he said.
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Dr Mumuni emphasised that ensuring the safety and resilience of the digital financial ecosystem requires collective action from all stakeholders.
“Our collective resolve, spanning regulators, innovators, and industry stakeholders, is stronger than the challenges confronting us. Together, we possess the capability and resilience to safeguard trust and integrity within the digital financial ecosystem,” he added.
SP/MA
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