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Securing Digital Financial Services: A Comparative Analysis of Post-Conflict Countries

Recent reviews of international cybersecurity frameworks have identified key measures essential for securing digital financial services. This article compares the efforts of post-conflict countries to implement these measures and assess their effectiveness.

Measuring Cybersecurity Capabilities

The International Telecommunication Union’s Global Cybersecurity Index pillars, the European Union Agency for Cybersecurity’s National Cybersecurity Assessment Framework clusters, and the Global Cyber Security Capacity Centre’s Cybersecurity Capacity Maturity Model for Nations all share a common goal: measuring and assessing the maturity of countries’ cybersecurity capabilities. Our analysis highlights three critical categories:

  • Awareness and Skills Training: Critical for securing digital financial services.
  • Technical Measures: Including digital identification systems, public key infrastructures (PKI), and e-commerce legal measures.
  • E-Commerce Legal Measures: Essential for secure online transactions and services.

Technical Measures

Digital identification systems are crucial for financial inclusion and digital financial services. The following post-conflict countries have implemented digital identification systems:

  • Central African Republic: Plans to use blockchain technology
  • Afghanistan, Liberia, and Somalia: Implemented biometric-based systems

Public Key Infrastructure (PKI) is essential for electronic authentication, commerce, and integrity on the World Wide Web. While there are concerns about its vulnerability to quantum computing attacks, PKI remains a consensus requirement for secure online transactions.

Governments in developing countries recognize the importance of secure cyberspace for economic development and online transactions. The following post-conflict countries have implemented e-commerce legal measures:

  • Liberia: Chose to use commercial providers rather than deploying a government-run national PKI
  • Afghanistan: Established a national PKI infrastructure under its Ministry of Communications and Information Technology

A Comparative Analysis of Post-Conflict Countries

Our analysis highlights the different approaches taken by post-conflict countries to implement digital identification systems and public key infrastructures. The following are notable differences:

  • Central African Republic: Has not defined a PKI policy
  • Afghanistan: Established a national PKI infrastructure
  • Somalia: Uses free domain validation certificates from Let’s Encrypt, similar to the Central African Republic
  • Liberia: Chose a commercial-based approach

Conclusion

Securing digital financial services is critical for post-conflict countries seeking to rebuild and develop their economies. Our analysis highlights the importance of awareness and skills training, technical measures such as digital identification systems and public key infrastructures, and e-commerce legal measures.

While there are differences in approaches taken by post-conflict countries, it is essential that they prioritize cybersecurity and implement effective measures to ensure secure online transactions and services.

Key Takeaways

  • Digital identification systems are crucial for financial inclusion and digital financial services.
  • Public Key Infrastructure (PKI) is essential for electronic authentication, commerce, and integrity on the World Wide Web.
  • Awareness and skills training, technical measures, and e-commerce legal measures are critical for securing digital financial services.

Recommendations

  • Post-conflict countries should prioritize cybersecurity and implement effective measures to ensure secure online transactions and services.
  • Governments should establish a clear PKI policy and infrastructure to support e-commerce and electronic transactions.
  • Digital identification systems should be implemented to facilitate financial inclusion and digital financial services.