By Joseph A. Kamanda
The Director General of the West African Institute for Financial and Economic Management (WAIFEM) Dr Baba Y. Musa has said in Freetown that his institute is on top of the game in the mitigation of cybercrime and cybersecurity threats in the region.
We are on top of the game. We are ahead of cybersecurity threats. We have put in place all possible protective measures aimed at tackling cybersecurity threats, reassured WAIFEM Director General, Dr Baba Y. Musa, and adds , instead of being a late starter, we are rather going ahead of them.
Cybersecurity threats bring one of the growing global problems militating against financial industries across the world Dr Musa said consistent capacity development of financial service providers can go a long way in protecting the sector the world over again emerging dangers of cybersecurity threats.
Dr Musa made the disclosure in an interview with FORUM NEWS shortly after the official opening of a cybersecurity course slated from May 20-24, 2024 for West African bankers at the New Brookfields Hotel in Freetown.
He informed that cybersecurity has been identified as the second biggest threats facing the world in 2024, and in the immediate future. The WAIFEM Director General said threats of cybersecurity is applied to all countries in West Africa and beyond. He added that WAIFEM therefore deems it much necessary to develop the capacities of institutions to able them protect themselves from probable cybersecurity threats in future. Dr Musa further disclosed that the issue of digitalization to enhance the efficient operations of financial industries in all countries come along with lots of threats. He pointed out that when the issues of cybersecurity threats was brought up in Davos, we then reconfirmed our own approach with the information and resources that were available with the drive and organized the course for member states bankers in the region to get them alert and know the current threats and share knowledge with our respective institutions and countries.
The threats of cybersecurity are escalating on a daily basis and if one read reports on cybersecurity threats updates from the respective countries, you will realized that there is huge cybersecurity threats in 2024. He said that there are several types of daily cybersecurity threats that regularly take place.
Asked why Freetown as the venue for the course, Dr Musa replied saying that Freetown is a choice for the first time as a good venue. He said that the expectation after the training is that individual participants will be able to increase their capacities in the area of cybersecurity based on the knowledge they acquired from the training.
