The Bank of Ghana has emphasized that cybersecurity is now central to trust in the nation’s banking sector.
Speaking at the Consumer Reporting Officers and Stakeholder Engagement program at Alisa Hotel, North Ridge, Second Deputy Governor Mrs. Matilda Asante-Asiedu highlighted that no matter how advanced a bank’s technology or service, trust can be broken if security is weak.
“No amount of service excellence or technological advancement can compensate for a breach of trust,” she said.
She explained that in today’s digital banking environment, trust depends on the protection of customer data, transactions, and personal privacy. “In this digital age, trust is built on the foundation of security of customer data, transactions and personal privacy,” she added.
Mrs. Asante-Asiedu called on banks to make cybersecurity a core part of their culture, not just an infrastructure requirement.
The Deputy Governor also warned about rising threats, including phishing schemes, identity theft, and other forms of cybercrime. She stressed the importance of proactive measures and a coordinated approach across all stakeholders.
To help institutions strengthen security, the Bank of Ghana has issued a Cyber and Information Security Directive, providing clear guidance on safeguards and risk management.
Mrs. Asante-Asiedu cautioned that following rules alone is not enough. Security must be a daily practice, integrated into every interaction, system update, and product rollout.
By doing so, banks can protect customers, maintain public confidence, and strengthen the overall resilience of the financial sector.
She further urged collaboration between banks, regulators, and consumers, emphasizing that cybersecurity is essential for building a banking system that is safe, trusted, and reliable for all.
