Cyber Security in Financial Sector Development: Challenges and Potential Solutions for Financial Inclusion
Categories : Cybersecurity, Regulation of Digital Financial Services
This paper assesses the relevance of cyber security for the development of inclusive financial systems in developing countries. The growing use of digital financial services and shared service platforms has increased the financial sector’s exposure to cyber risks. Financial service providers and their customers, regulators and supervisors are challenged with the increase in cyber threats – especially in emerging and developing countries with lower capacities and less resources.