By: Saidu Jalloh
In recent years, the volume and frequency of fraudulent practices and cyber security threats in major Sierra Leoneans companies have been on the increase with obvious implications on their performances and the banking industry is not an exception.
However, the occurrence and frequency of Cyber Security threats in the banking sector over the years has negatively affected the performance of these banks in Sierra Leone. Irrespective of emerging challenges, Rokel Commercial Bank will be organizing the first ever Cyber Security and financial Inclusion symposium in Partnership with EST Applied Intelligence UK / on Thursday 22nd February 2024 at the Freetown City Council Auditorium Hall to enhance knowledge about financial inclusion and cyber security in Sierra Leones.
EST Applied intelligence is a Specialist Enterprise with security consultancy, comprising a team of forward-thinking experts with a deep domain Knowledge in Cyber security.
The RCBank cybersecurity Symposium is an exclusive high-profile business networking event that brings together leading cyber security industry professionals, government officials, financial institutions, telecommunication companies and industry regulators to discuss the significance of keeping cyber vigilance on varying degrees of business technology touchpoints for data exchange.
As a financial institution that provides banking and related financial services in a manner that builds strong, lasting and satisfying relationships with customers, employees, shareholders and other partners, the Managing Director Dr. Ekundayo Gilpin earlier revealed that as a bank they are on a journey, a path towards digital exploit in Sierra Leone. He admitted that he has been a customer and also experienced financial inclusion in other countries which he believes can be replicated in Sierra Leone. This led to his recognition that there was a gap in digital Banking as far as expectations and deliverables are concerns in in the country. In 2017, he realized that Sierra Leonean bank can take the lead.
” When I came back in 2017, I saw an opportunity to make this happen in Sierra Leone and I believe that despite the presence of Nigerian banks, Sierra Leonean Banks, we can take the lead. I believe 5 years down the line; we have been able to make big input. We have been able to support financial transactions to vulnerable people, thousands around the world, right now we are working along with the Orange, Africell and other Teleco companies. Dr. Gilpin stated.
As a proactive Banking institution, RCBank knows that Cyber Security is a major threat to Sierra Leoneans hard-earned monies and the survival of their businesses. This strategic symposium is coming at a time when over thousands of Sierra Leoneans had been recently defrauded with funds, amounting to over nine billion Leones ($369,000.00) by an online business platform dubbed as Super Advertise.
The platform used mobile Money platforms, operated by Sierra Leone’s telecom companies to collect funds from people promising to repay them with huge profit or commission.
Many Sierra Leoneans got attracted and lured into the scam, particularly young people, most of them university students who had deposited their tuition fees, petty traders, commercial bike riders and other public transport operators. The scammers succeeded as a result of the paucity of knowledge to detect some of these threats.
The UK based security Enterprise is specialized in Security Strategy and Leadership, Security Improvement Programme, Security Portfolio and Programme Management, Security Risk Management, Security Assessment, Security Risk Diagnostics, Architecture Review, Security Awareness amongst others.
Management and staff of RCBank have ensured administrative efficiency against these emerging threats and financial discipline ensuring Sierra Leoneans have access to banking services irrespective of distance. The new trajectory in the banking administration is towards financial Inclusion; it is productive to bring both investors and debtors together and increase returns to enhance confidence in Sierra Leone’s banking sector. RCBank – The Bank of Choice.
