Fintechs have 6 months to meet new cyber security standards – BoG warns

The Bank of Ghana (BoG) has urged all fintechs operating in the country to improve their cybersecurity systems to meet international standard requirements ahead of the passage of the Payment Systems and Services Bill by end of 2018. According to the central bank, the new law will take into account technology, innovation, and consumers’ demand for better services. The Head of Payment Systems at the Bank of Ghana, Dr. Settor Amediku said telcos and fintechs will be required by law to meet certain strict cybersecurity standards by close of the year.

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