Information Technology (IT) security threats have remained a serious
challenge, plunging most financial institutions and public
organisations into massive losses in the East and Central African
Region.
The meeting comes at a time when system improvements adopted by
organisations in the Eastern, Central and the Horn of Africa have proven
futile as fraudsters have in recent years siphoned large sums of money
from banks.
“The two day event will help players in the financial sectors, public
agencies and other organisations to identify the technical,
environmental and business risks that could lead to service
vulnerability, weak consumer confidence and ultimately brand damage and
serious revenue decline,” he said.
According to the survey conducted in Tanzania, Rwanda, Uganda, Kenya
and Zambia last year, the surging threats like hacking, malicious
insiders, card skimming, electronic files manipulation, IT controls
circumvention, unauthorised penetration and careless employees are
common.
Speaking at the event, the Director of Information, Communication and
Technology in the Ministry of Communications, Science and Technology -
Dr Zaipuna Yonah said there was still lack of law to govern cyber
security necessary for prosecuting manipulators of IT operations.
“There are ongoing technical preparations for the enactment of the
law expected to be finalised before the end of the year,” he noted. He
added that lack of proper IT controls was also contributing to loss of
revenues to the Tanzania Revenue Authority (TRA) through the electronic
credit payment system.
Some of the key issues to be discussed include the IT security
threats, fraud, risk and regulatory matters affecting financial
institutions, public and private organisations in their daily
operations.
Source: The Daily News, www.dailynews.co.tz, reported from Dar es Salaam
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