Financial Crime World

Digital Financial Security in Post-Conflict Countries: A Comparative Analysis

In the aftermath of conflict, securing digital financial services is crucial for economic development and stability. This article compares the measures taken by the Central African Republic with those of Afghanistan, Liberia, and Somalia, all of which have undergone post-conflict phases similar to that of the Central African Republic.

Technical Measures

Digital Identification Systems

The World Bank highlights the importance of digital identification systems in financial inclusion, particularly in sub-Saharan Africa where up to 1 billion people lack official proof of identity. The Central African Republic has proposed blockchain-based technology for digital identity services as part of its Sango project, while Afghanistan, Liberia, and Somalia have implemented biometric systems.

Public Key Infrastructure (PKI)

PKI is essential for electronic authentication, commerce, and integrity on the World Wide Web. While some argue that PKI does not secure electronic commerce, it remains critical in preventing financial fraud online. The Central African Republic has not defined a PKI policy, while Liberia opted for commercial providers and Afghanistan established a national PKI infrastructure under its Ministry of Communications and Information Technology.

Computer Incident Response Teams (CIRTs)

No information is available on CIRTs in the countries being compared.

Electronically transaction laws and cyber crime policies are crucial in securing digital financial services. Liberia has enacted electronic transaction laws, while Somalia’s cyber crime legislation is under development. The Central African Republic does not have any of these measures in place.

Awareness and Skills Training

Raising user awareness and cybersecurity training programs are essential for secure digital financial services. Afghanistan and Somalia have limited initiatives, while Liberia has government-led and private initiatives.

Initiatives by Country:

  • Afghanistan: Limited initiatives
  • Liberia: Government-led and private initiatives
  • Somalia: Limited initiatives
  • Central African Republic: No initiatives

The article highlights the varying approaches taken by post-conflict countries to secure digital financial services, emphasizing the importance of technical measures such as digital identification systems and PKI, legal measures including electronic transaction laws and cyber crime policies, and awareness and skills training programs.