Safeguarding critical data in financial ecosystem - BoG
The Bank of Ghana has introduced a revised Cyber and Information Security Directive to manage cyber risk and protect the integrity of the country's financial system. The directive includes new governance standards for artificial intelligence and machine learning systems, stricter conditions for cloud adoption, and expanded participation in sector-wide monitoring and response systems.
The Bank of Ghana has introduced a revised Cyber and Information Security Directive. This directive extends regulatory coverage to fintechs, microfinance institutions, and other financial sector players. It includes new governance standards for artificial intelligence and machine learning systems. Stricter conditions for cloud adoption limit the hosting of sensitive financial data outside Ghana. The directive expands participation in sector-wide monitoring and response systems. The Bank of Ghana is developing a shared services model to support implementation.
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