Financial Crime World

Conflict Countries Grapple with Digital Financial Security

Securing digital financial services is crucial for conflict-affected countries. A review of international cybersecurity frameworks has identified three critical categories: awareness and skills training, technical measures, and e-commerce legal measures. This article will explore the varying levels of preparedness among conflict-affected countries, including the Central African Republic, Afghanistan, Liberia, and Somalia.

Technical Measures Fall Short

The Central African Republic’s Sango Project

The Central African Republic plans to use blockchain technology for digital identity services through its Sango project. While this is a promising initiative, the lack of a public key infrastructure (PKI) policy raises concerns about secure online transactions.

Biometric Identification Systems in Afghanistan, Liberia, and Somalia

Afghanistan, Liberia, and Somalia have implemented traditional biometric identification systems. However, these systems may not provide the same level of security as a PKI.

PKI Crucial for Electronic Authentication

A Public Key Infrastructure (PKI) is essential for electronic authentication, commerce, and integrity on the World Wide Web. It provides a foundation for secure online transactions, although it does not guarantee security against all threats.

Liberia’s Complexity

Liberia has decided to use commercial providers instead of deploying a national PKI, adding complexity to its PKI structure.

The lack of e-commerce legal measures in conflict-affected countries hinders the growth of digital financial services. A functional PKI is critical for securing electronic commerce, including e-government services and online transactions.

Awareness and Skills Training Crucial

Raising Awareness

Raising awareness about cybersecurity threats and providing skills training for individuals and organizations are essential for building a secure digital economy. Conflict-affected countries must prioritize these measures to prevent cyber attacks and promote trust in digital financial services.

Key Findings

  • The Central African Republic plans to use blockchain technology for digital identity services.
  • Afghanistan has established a national PKI infrastructure under its Ministry of Communications and Information Technology.
  • Liberia uses commercial providers instead of deploying a national PKI.
  • Somalia lacks a PKI policy and uses free domain validation certificates from Let’s Encrypt.
  • Conflict-affected countries must prioritize awareness and skills training, technical measures, and e-commerce legal measures to secure their digital financial systems.

In conclusion, conflict-affected countries must work towards implementing robust technical measures, e-commerce legal measures, and awareness and skills training programs to support the growth of their digital economies.