Digital fraud cannot be stopped by technology alone, according to Elhanan Owureku Asare, Head of Fintech and Innovation at the Bank of Ghana. He explained that technology can protect against hackers but not against people being fooled into sharing their private codes.
Asare stated that customers are often tricked into revealing passwords and personal identification numbers PINs. This action by customers bypasses technological security measures.
He highlighted that scams often target users directly. These attacks aim to extract sensitive financial information through deception.
The official emphasized the importance of customer vigilance. He said that people must be careful not to share their confidential codes with anyone.
This caution from the Bank of Ghana aims to reduce the success rate of digital fraud attempts across the country.
The Bank of Ghana continues to work on strengthening digital security systems. However, customer awareness remains a critical defense layer.