BoG Establishes Security Operation Centre

The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has announced that the Central bank would soon inaugurate a Security Operations Centre for the banking industry.

The inauguration which would be held on October 22,2018 will help the Central Bank oversee cyber security operations in the country.

This, according to him, would be followed by a launch of a cyber and information security directive for the industry.

“Subsequent to the issuance of the directive, banks would be required to follow an implementation schedule to ensure that effective cyber security controls are in place to counter any form of cybercrime”, The Governor made this known at the official opening of the Standard Chartered Bank new headquarters building in Accra on Wednesday.

Cyber-attacks on banks are on the rise, especially in the Western countries.

Many industry players fear that Ghanaian banks and other financial institutions are not adequately protected.

To counter these, the Central bank is strengthening and increasing the scope of Anti-Money Laundering risk-based supervision and also collaborate with the Financial Intelligent Centre (FIC), Economic and Organized Crime Office (EOCO) and other law enforcement agencies.

The essence is to reduce the incidence of cyber-attacks on the financial sector.

Stanchart Gets New Head Office

Standard Chartered on Wednesday, inaugurated a new head office building on Independence Avenue in Accra.

The launch of the new headquarters was to mark the bank’s 120 years in business.

Its head office has a state-of-the-art trading floor and the transformative impact of technology on the modern workplace is visible.

Dr. Addison in his speech commended the bank for its contribution in the banking industry.

He mentioned that the bank has contributed in churning out astute professional bankers who have moved on to serve other institutions in the industry.

The governor further urged the bank to continue to draw on its strengths, knowledge of the local market, professionalism and, above all, a customer-focused culture to develop products and services to meet the banking needs of the public.

By: Emmanuel Yeboah Britwum