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