Cyber fraud cases on the rise in banking industry in Ghana – BoG

Cyber fraud cases in the banking industry have increased by 41.66 per cent from 1002 cases in 2016 to 1418 cases in 2017, the Bank of Ghana has disclosed.

Out of the number, 51.2 percent of the incidents were recorded in the non-banking financial institution sector.

According to the Bank of Ghana, the fraud incidents in the non-banking financial institution sector were committed mainly by internal staff and contract staff.

About 90 per cent of the non-banking financial fraud incidents were related to cash suppression usually committed by internal staff and contract staff.

This as made known at a seminar on cyber crime in the banking sector Thursday morning at Senchi.

According to the BoG the total value reported for fraud or attempted fraud amounted to approximately Ghc190.4 million and that 84 percent was recovered while 16 per cent, Ghc30.1 million were reported to have crystallized as loss.

More to follow…

POST TAGS

ABOUT: Ellsamwise King

[email protected]

A Civil/Structural Engineer & Freelance Blogger, Journalist, Social Media Mogul, Digital Marketer, Entrepreneur, and Philanthropist. CEO of Skyline Consortium & 9189 Media Consult and Co-Founder of Team Sarkodie. An alumnus of Prempeh College where he read General Science. He holds a first degree in Bachelor of Science from the Kwame Nkrumah University of Science and Technology. His mentors are Alvar Alto, Rupert Murdoch, Piers Mogan, Mensa Otabil, Bernard ElBernard Nelson-Eshun. Blogs for; http://www.233times.com | www.paemuka.com | http://www.playmusicgh.com | http://www.muzikiq.com | http://www.brandsaid.biz . Social Media Manager for Eon3 Group | BrandsAid | Kings Crown Media | Carabao Africa Ghana & Africa | Calvary Temple - ICGC | Team Sarkodie | Muzik IQ | Kwaw Kese Please inquire more via Email: [email protected] | [email protected] Instagram & Twitter: @wise_tskd Facebook: Ell Samwise LinkedIn: EllSamwise King Dogbe

View all posts by: Ellsamwise King