Cybersecurity and fraud prevention functions need to start working more closely together to share and leverage cross-functional knowledge that can help improve security. Africa currently hosts some of the fastest growing economies in the world and the entire continent is set for a huge economic transformation.
Cyberattacks on businesses around the world are on the rise, and Africa is not spared. These attacks cost businesses productivity, revenue, and client trust—not to mention the personal security of its patrons. Fraud prevention is becoming an issue that the regulators and top banking executives who are in saddle when fraudulent activities takes place or more succinctly when someone commit an act of fraud in the financial institutions under their management. The digital economy is developing at lightning speed, and with it a new challenge has appeared, along with the economic and strategic stakes that go with it: this new danger is cybercrime.
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