Monday, May 29

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BOG establishes Centre to address cyber security challenges
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BOG establishes Centre to address cyber security challenges

Dr Ernest Addison, the Governor of the Bank of Ghana, says the Financial Industry Command Security Operations Centre (FICSOC) is a key component of the systems to address the challenges of cyber security. He said the Centre would help provide real-time visibility into cyber threats and attacks targeting the banking sector. Dr Addison was speaking at the commissioning of the FICSOC Project in Accra. He said in October 2018, the Bank of Ghana issued the Cyber and Information Security Directive for banks and other Bank of Ghana-regulated financial institutions to implement the required Information Security Management Systems (ISMS) controls. He said it was to ensure the delivery of a safer digital financial Industry. The implementation of the Directive was phased over 36 month...
Veep unveils cybersecurity defence facility for banks, financial institutions
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Veep unveils cybersecurity defence facility for banks, financial institutions

Vice President Mahamudu Bawumia Wednesday commissioned the Bank of Ghana's (BoG) Financial Industry Command Security Operations Centre (FICSOC), to deal decisively with cybersecurity threats in the financial services sector. The FICSOC was funded by the Bank of Ghana (BoG) as a threat intelligence sharing platform to coordinate cybersecurity efforts within the banking and financial industry, as well as build cybersecurity resiliency against cyber and information security threats. The project, the first of its kind in Africa, was initiated by BoG in November 2019 and became operational in January 2023. It was designed by Virtual InfoSec Africa Limited, a wholly owned Ghanaian information and cybersecurity services company. As of April 2023, all commercial banks in Ghana have b...