Business

Banks Asked to Guard against Cyber-attacks

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Vincent Bagiire

Banks in Uganda have been asked to put strong measures in their on-line baking systems to guard against invasion of their customers’ finances and information as well as the Banks’s own security by hackers.

The Permanent Secretary Ministry of ICT and National Guidance, Vincent Bagiire Waiswa, noted that with the new era of cashless banking where banks have immensely introduced on-line means for financial transactions, the risk of cyber insecurity has also become very strong.

Bagiire who represented the line Minister, Frank Tumwebaze at Standard Chartered Bank Media Fiesta held on Wednesday evening in Kololo, also told the bankers to go an extra mile to make sure their customers are safe on line.

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“Apart from the passwords and pins, there is need for the banks to use extra expertise in making sure that no unauthorized person can access information that is not meant for him. The hackers have become even smarter, when you think you are too safe, that is when they will attack you,” Bagiire warned.

The Chief Executive Officer of Standard Chartered Bank in Uganda, Albert Saltson said his Bank was very careful with its security and that they had invested over $1.5b in technology development to make sure their systems are safe.

He also appreciated the role played by the media in disseminating developmental information and asked them to continue positive reporting because they are the ambassadors of development.

“Media is stronger than what you people estimate. You can destroy or create an economy with the power of your words. That is why I am appealing to you to do positive reporting so that we can all build Uganda together,” Saltson said.

The media fiesta was organized by the bank to appreciate the good work the press has been doing in delivering information to the bank’s customers.

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