Africa-Press – Angola. Banking financial institutions need to make electronic security systems stronger for better provision of financial services, said, Friday, in Luanda, the director general of the Institute of Administrative Modernization.
Meick Afonso spoke at the opening of the III Angolan Congress of Banking Law, whose central theme is “Cybercrime and Protection Mechanisms in the Angolan Financial System”.
According to Meick Afonso, 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 age and ensure electronic security.
Currently, there are countless challenges faced on a daily basis by financial institutions, such as attacks on ATMs, fraud, data theft, etc., etc.
For this reason, Meick Afonso appeals to law institutions for the urgent implementation of “Electronic Know Your Customer”, in order to allow for integration, fully digital, with independent analyzes, which verify the identities of users and conduct anti-fraud checks. .
Another point highlighted by the official 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 remotely validate most types of transactions. However, according to Meick Afonso, it is noticeable that the need for constant adequacy of the legal systems on cyber crimes, in order to accompany such evolution,” because with each passing day, new criminal types appear, in comparison to countless illegal practices in the world virtual, that 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 resources financial resources through fintech and other previously unconventional ways”.
Platform creation
In turn, the scientific coordinator of the Congress, Nelson Prata, stressed that, as in previous editions, the intention is to create a platform that allows analyzing the phenomenon of cybercrime, promoting debates and presenting possible solutions, being a necessary space for the valorization of the knowledge, based on the principles of rigor, authenticity and transparency.
In addition to the central theme, other topics of crucial importance for the banking and economic sectors were under analysis, such as “Bank Credit to Agribusiness”, “VAT Taxation in Financial Operations, as well as “Privatization of Banking Institutions, via the Stock Exchange Market” .
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