Governor reaffirms Bank’s commitment to fight cybercrime

Under the theme "Secure Eswatini, Be Safe Online," the Governor, Dr. Phil Mnisi, delivered a keynote address focusing on "Securing Trust: Building a Cybersecure Banking Ecosystem", yesterday at the Cybersecurity Awareness Month launch held at the Happy Valley hotel.

The Governor said trust was the backbone of the financial sector, and was founded on the assurance that "funds are secure, transactions are confidential, and systems are resilient."

He cautioned that the severe consequences of cybercrime result in significant financial losses, substantial recovery expenses, and potential systemic risks, adding that a loss of trust in digital security threatens the stability of the entire financial system, making cybersecurity as essential as managing liquidity and capital.

To mitigate these threats, the Governor acknowledged that guidelines on cybersecurity and cloud computing have been issued to provide minimum standards for financial institutions. "We continue to strengthen our supervisory frameworks, ensuring that banks and fintechs adopt risk-based approaches to managing cyber threats," he said.

The Prime Minister, Russell Mmiso Dlamini, declared cybersecurity a national priority, affirming that it was intrinsically linked to national, economic, and personal security.

The ESCCOM CE, Mvilawemphi Dlamini reinforced this message, adding that cybersecurity was no longer just an IT issue. "It is a national development priority, a public safety concern, and a shared responsibility," the CE noted, calling on the government, businesses, academia, civil society, communities and every Liswati to work together.