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SWIFT Institute: Investigating cybersecurity risk minimisation practices across Africa

SWIFT Institute: Investigating cybersecurity risk minimisation practices across Africa

Cyber Security,
18 November 2021 | 2 min read

Read how institutions in Africa are responding to cybersecurity threats through detective and preventative measures, the implementation of Information Security Polices and the adoption of frameworks to streamline their cyber-risk management processes.

 

The financial sector has always been a primary target for cyberattacks. As a result and to protect the wider financial ecosystem, it is vital that cyber-risk minimisation practices within financial institutions remain resilient and effective.

To better understand existing practices in our industry, the SWIFT Institute partnered with the Global Business School Network (GBSN) to produce two case studies examining cybersecurity and banking across the African and East African region. These were led by the United States International University in Kenya and have provided a valuable insight into the current cyber-risk landscape.

Case study 1: Cybersecurity risk minimisation best practices – African experiences

This case study identifies key cybersecurity risks and assesses risk quantification and minimisation practices in the banking industry. Taking a comparative view, it highlights the African experience, providing mitigating measures and strategies to help reduce cybersecurity risk in emerging areas of concern for African financial institutions.

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Case Study 2: Cybersecurity risks and national policy implications – East African experiences

The second case study assesses the cybersecurity risks stemming from discrepancies between policy development and technological advances in the banking industry, with a particular focus on the East African region.

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To help summarise the key findings of both case studies, the SWIFT Institute has created a summary report. Download it today for more details.

Download summary report

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