NDK Financial Services Limited has organized a seminar on cyber security for its clients and staff to educate them on best practices in protecting their businesses and online accounts from cyber-attacks.
The seminar which was on theme: “The Emergence of Cybercrime Activities and its Effects on Businesses”, featured cyber security experts from the e-Crime Bureau.
According to the Business Operations Manager of the e-Crime Bureau, Philip Debrah Danquah, most companies and even individuals in Ghana are at risk of attacks. He noted that people are oblivious when using the internet and therefore easily welcome hackers to their devices.
Philip Danquah said that many people are not security conscious on the internet citing downloading of unauthorised applications such as ‘Whatsapp Gold’ as one of the ways hackers get access to personal information on devices.
He advised that companies and even individuals must look out for reviews, ratings of 4.5 and above and number of downloads of an application before downloading it. He also added that terms and conditions of applications must be read thoroughly before agreeing to it.
“Most people, especially Ghanaians, do not go through the terms and conditions of applications. Some applications get access to your pictures, recordings, calls, emails etc. therefore it is very important to understand the terms and conditions before downloading it.
Also, check the number of downloads of the application. It is a way of endorsing its authenticity. Another way to do that is through the reviews from other users. The review section is below. Also check the star ratings. Make sure it is at least 4.5 and above. All these are better ways of detecting original applications from fake ones”.
He further recommended antiviruses such as Malwarebytes, Lookout, Kaspersky and Avast as some of the authentic antiviruses in the cyber space.
In her speech, Deputy Managing Director of NDK, Kuorkor Ayisa said: “There is the need for collaboration and cooperation among stakeholders within the financial sector to constantly be one step ahead of cyber-attacks.”
In 2016, the Payment Systems Oversight Report of the Bank of Ghana stated that 1,001 fraud incidents were reported amounting to losses approximately GHS 244.32 million. According to the e-Crime Bureau, more than 80 percent of cyber incidents investigated in 2016 and 2017 were successful due to the involvement of inciders.
On his part, Felix Hagan, Divisional Head of Credit, NDK Financial Services Limited said NDK has for some time now been having training on e-crime however, as part of the company’s responsibility of ensuring value for its clients, they decided to involve their clients in this seminar to expose them to the risks in technology. He said: “I believe they will be a bit more careful in their online transactions now.”
Speaking to the media on NDKs credit and LCs, Felix Hagan said: “We are authorized by the BOG to issue both LCs and guarantees and this is something we’ve been doing for some time now. But in terms of how we route it now is through local banks. And so when the client comes to us, we go to our local partners, who are the banks, to do the LCs for us but it is a bit expensive.
So we are discussing with foreign banks to get a line so that when we get these requests, we do it directly through them. To take out the bit of the local banks makes it cheaper for us and also cheaper for the client. So, if they will be able to agree to a number of things then they will strictly do the LCs for us.”
NDK as part of its Corporate Social Responsibility set up the NDK Foundation two years ago to focus on Sports, Health and Education. This year, the foundation will be donating furniture to some schools in the Accra Metropolis as well as renovate and build libraries for three selected schools in Ashiedu Ketereke, Achimota and Mamprobi.
With health, NDK Foundation has acquired some lifesaving equipment for babies which will be donated to the Princess Marie Louis Hospital and the Korle-Bu Teaching Hospital. And in Sports, the foundation will organise a Hockey league in some selected Senior High Schools in the country.