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Beware!! Hackers Adopting Radical Means To Hack ATMs- IT Security Warns

Naa Ayorkor Laryea

Jun. 26, 2020

Chief Information Security Officer with the Bank of Africa, Mr Philemon Kwame Ankomah, says cyber hackers have duplicated some ATM cards in Ghana and withdrew monies belonging to depositors of banks especially during the coronavirus period.
He said this during the business webinar on the topic: ‘Banking in a Covid-19 environment, Dynamics for Corporate, SMEs and Individuals’ organized by the Bank of Africa in partnership with the Chamber of Commerce and Industry, CCI France Ghana, on Thursday, June 25, Mr Ankomah explained that there are threats associated with the dynamics of the new normal in the wake of the pandemic.
“The COVID-19 has caused customers to push banking and businesses in general towards online and engagements and transactions.
“Whiles there are some remarkable feat to be enjoyed and celebrated by a lot of companies, there are also a number of successes that are being enjoyed by criminals who are also taking advantage and exploiting certain vulnerabilities that come with the new way of doing business.
“Undoubtedly, one of the biggest winners of COVID-19 arrival is video conferencing. Before the arrival of COVID-19, we all admit that very few tech-savvy companies and individuals engage in online meetings and video conferencing but now this has become the new normal.
“Everybody seems to prefer to engage in online than to have a face-to-face meeting and nobody has been a bigger winner than zoom.
“Zoom was able to post $328.3m in revenue just in the first quarter alone and this is very impressive. We also take a look at streaming companies. Most of us have Netflix accounts. Before COVID, I didn’t see the importance of it but during this lockdown, it came in very handy so we all subscribed to Netflix and Netflix has been a big winner with the arrival of COVD-19.
“They were able to add up to 16 million subscribers in the first quarter only. This is double of the predictors’ subscriptions that they themselves predicted in January.
“We also have online retail companies. I suspect the likes of Jumia and other local companies in Ghana have also benefited a lot from the arrival of Covid-19 but unfortunately, we don’t have any records or data to support this so we have to focus on the international front. The likes of Amazon grew up to 25 per cent just within the arrival of COVID-19,” he said.
He added: “But when we come down locally to Ghana a report indicates that MTN saw an up pick of data subscription by 5.5 % and also grew MoMo subscribers by 6.9 per cent which was 15.5 million subscribers by MTN. he said
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