On 10 and 11 February, a virtual event brought AFI’s African members together with experts from the central banks of France and Germany, and from the mobile industry association GSMA, to explore how regulators can develop effective cybersecurity policies. 

Karim Dia, GSMA Senior Mobile Money Regulatory Specialist, explained how cyber threats are evolving within mobile money ecosystems, and how regional and global information-sharing practices can help mitigate risks. Dr. Christopher Stolz, On-Site Inspector at Deutsche Bundesbank, revealed how the Bundesbank conducts IT examinations and cyber supervision across regulated entities. Simon Augarten and Julien Lucas from Banque de France discussed their experience in developing and supervising cyber information-sharing initiatives, and how this supports supervisory coordination and sector-wide resilience. 

“The most common cyber risks, such as social engineering, mobile money fraud, and operational disruptions, are shared challenges across countries, and peer exchange can make an important contribution to effective cyber oversight. There are many areas where our members in Africa and our peers from Europe can learn from one another,” said AFI Director of Global Partnerships, Ilya Sverdlov. 

The meeting, attended by over 50 participants, built on a recent AFI cybersecurity workshop in Mozambique and forms part of AFI’s new African cybersecurity information sharing initiative, which is being supported on a pilot basis by the German Development Ministry, BMZ, and which will allow AFI’s African members to share intelligence on emerging digital threats, and to develop effective cybersecurity responses. 

LEARN MORE: New cybersecurity intelligence platform for AFI’s African members