NDK Financial Services educates clients on cyber security

NDK Financial Services Limited has organised 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 was themed ‘The Emergence of Cybercrime Activities and its Effects on Businesses’ and 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 to threats 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 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 for an application before downloading it. He also added that terms and conditions of applications must be read thoroughly before agreeing to them.

“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 them.

“Also, check the application’s number of downloads. This is a way of endorsing its authenticity. Another way to do that is through reviews from other users. The review section is below. Also check the star-rating. Make sure it is at least 4.5 and above. All these are better ways of detecting original applications from fake ones.”

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He further recommended antiviruses such as Malwarebytes, Lookout, Kaspersky and Avast as some of the authentic antiviruses in cyberspace.

In her speech, Deputy Managing Director of NDK Kuorkor Ayisa said: “There is a need for collaboration and cooperation among stakeholders within the financial sector, so as to be constantly 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 of approximately GH¢244.32million. 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 insiders.

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, it decided to involve 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 NDK’s credit and LCs, Felix Hagan said: “We are authorised 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, it 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.

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“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 local banks’ charge 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 renovating and building 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 of the country.

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