Angolan banking financial institutions need to strengthen their electronic security systems to better provide financial services, recommended the general director of Institute of Administrative Modernization, Meick Afonso.
Speaking at the III Angolan Congress on Banking Law, whose central theme was “Cybercrime and Protection Mechanisms in the Angolan Financial System”, the expert highlighted that the banking sector is one of the great pioneers and drivers of the use of digital technologies. Therefore, it needs to find mechanisms to enhance the “good” provision of financial services in the digital era and guarantee electronic security.
Currently, there are countless challenges faced daily by financial institutions, such as attacks on ATMs, fraud, data theft, etc.
In this way, Meick Afonso advises law institutions to urgently implement the “Electronic Know Your Customer”, in order to allow for fully digital integration, with independent analyzes that verify users’ identities and conduct anti-fraud checks.
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Another point highlighted by the person responsible has to do with the implementation of a Public Key Infrastructure for issuing digital certificates and support for electronic signatures and timestamps, which allows customers to validate most types of transactions remotely.
However, according to Meick Afonso, it is clear that there is a need to constantly adapt legal systems on cybercrime, in order to keep up with this evolution,” as new criminal types emerge with each passing day, in comparison to countless illegal practices in the virtual world, which due to the lack of specific laws, offenders cannot be punished.
"For this reason, the application of banking law is extremely important, as many countries have had to change their rules and policies to enhance the implementation of digital financial services, opening the door to new processes and new ways of transacting financial resources. through fintech and other previously unconventional ways”, Finished.
