‘Financial institutions prime targets of rising cybercrimes’

The organisers of the Banking, Financial Services, and Insurance Security Summit 2025 have said that financial institutions in Africa have become prime targets of rising cybercrime on the continent.

This was disclosed in a statement on Monday in the lead-up to the annual summit in South Africa in May.

Cybersecurity remains a top concern for financial institutions in Africa. In 2024, the Bank of Uganda fell victim to an offshore hacking group…