Reserve Bank of Malatwi (RBM) deputy governor, William Matambo, has called on stakeholders in the financial and telecommunication sectors to remain vigilant against cyber threats and stay ahead of potential attacks.
He said this at Sunbird Nkopola Lodge in Mangochi on Wednesday during the Financial and Telecom Sector Cybersecurity Conference organised by the Malawi Communications Regulatory Authority (Macra) under its Computer Emergency Response Team (Cert) unit in collaboration with the Forum for Incident Response and Security Team (First).
Matambo emphasised that while digital advancements have improved efficiency and convenience in business operations, they have also created new risks that require proactive measures.
He said: “The rise in cyber-attacks is a growing concern. Institutions offering digital financial services must invest in robust systems and infrastructure to counter cyber fraud and other threats.”
Matambo said we are living in a world where issues of cyber-attacks are the in-thing and has infiltrated rapidly in the financial and telecommunication sector, hence, the need to come up with systems that can safeguard the threats.
Macra’s head of the computer emergency response team (Cert), Christopher Banda, highlighted that the forum aims to equip industry players with the skills needed to combat cyber threats and enhance digital security.
To this end, he urged the business captains, managers and information and communication technology pundits to work together in fashioning out interventions that can clobber the attacks.
Macra board director, Father Francis Damaseke stressed the need for financial and telecommunication institutions to invest more in data protection from cyber criminals.
Daniel Maluki, one of the participants, who is also managing director of Enovise, a cyber-security consulting firm challenged companies and fellow participants to invest more resources in cyber-security to protect their institutions from cyber-attacks.
Held under the theme: “Navigating Cyber-security in Financial and Telecommunications”, the conference brought together banking and telecommunication professionals from within and outside Malawi to discuss strategies for strengthening cyber-security.
