Angolan banks urged to invest more in security systems

Angolan Finance Minister Vera Daves has advised national banks to invest more in security systems.

Daves gave the advice while addressing a banking forum in Luanda.

The minister noted that digital solutions entail new risks and called for “full attention” to the security of the technological systems of all banks in the market.

“We cannot be vulnerable to cyber attacks as well as to the impact that has on the entire Angolan financial system, a threat that has been recurrent in our country,” she stressed.

The official underlined that “it is naive to think that there are cheap solutions to problems that cause or may cause unspoken losses.”

The state-owned Savings and Credit Bank was the latest target of a cyber attack on July 20, according to the official.