Money & Banking
How Kenyan Banks and SME ’ s can alleviate cyber security threats .
All commercial banks in Kenyahave until 30th November to bring forward their intricate cyber security plans following a consultative process that began in mid June this year with Central Bank of Kenya . Central Bank Governor Patrick Njoroge confirmed that the chief executives have embraced the said guidelines , based on feedback received in August this year . The move seeks to curb the cyber security menace stabilizing the increased digital technologies on the rise in the industry associated with higher risks in cyber crimes .
By Nelius kanyingi nelly @ thinkbusiness . co . ke
According to the International Organization of Securities Commissions ( IOSCO ), ‘ cybercrime ’ or ‘ the cyber threat ’ refers to a harmful activity , executed by one group or an individual through computers , Information Technology systems and / orthe internet and targeting the computers , IT infrastructure and internet presence ofanother entity .
16 | THINK BUSINESS • NOVEMBER 2017