Macra moves to address digital financial security risks
Malawi Communications Regulatory Authority (Macra) director general Daud Suleman has said there is need to address risks in the digital finance ecosystem as about 12.4 million Malawians use mobile services provided by banks and mobile money network operators.
Speaking in Lilongwe on Wednesday when Macra hosted a digital finance clinic, he said a secure digital finance space is key to protecting unsuspecting consumers.
“It is important for us as a telecoms regulator to work closely with the finance services regulator which is the Reserve Bank of Malawi and players such as banks and mobile money service providers so that together we can find ways and means of strengthening security.”
On his part, International Telecommunication Union programme coordinator Vijay Mauree cautioned the public against using unsecured wifi networks to conduct financial transactions. The meeting was aimed at assisting regulators and providers to learn about the different vulnerabilities within the digital finance ecosystem.
