The Financial Institutions Training Centre has linked the rising spate of digital risks to the digitisation of banking services and advised banks and other financial institutions to adopt the Central Bank of Nigeria’s cybersecurity framework to tackle cybercrime.
The Managing Director/Chief Executive Officer, FITC, Chizor Malize, disclosed this during the third edition of ‘Think Nnovation Cybersecurity’ conference in Lagos with the theme, ‘Accelerating the adoption cybersecurity: Reimagine, simplify, grow’.
To stem this negative trend, she said, the CBN revised the risk-based framework and policy guidelines issued to banks and other financial institutions, and mandated banks and other financial institutions to comply with its provisions by January 1, 2023.
She explained that digital risk was one of the topmost risks in the world in post-pandemic and was being fuelled by the rise in digitisation of banking services.
