The centre which has been established by the central bank forms part of efforts to reduce Automatic Teller Machine (ATM)and cyber-related fraud in the banking sector. Fortunately, we are looking very closely at that.”“We have the security operating centre at the Bank of Ghana, which monitors our cyber resilience. Meanwhile, a 2020 report on banking industry fraud showed there has been a rise in cases and value of ATM fraud and other types of fraud activities. The value of fraud recorded by Banks and Specialized Deposit-Taking Institutions operating in the country was about GH¢1 billion in 2020. This represented a surge of over 750% as compared to a reported value of fraud recorded back in 2019 which was pegged at GH¢115 million.

Source: GhanaWeb September 30, 2021 15:22 UTC