Digital trust crisis looming if fraud concerns are ignored - John Awuah warns
John Awuah, Chief Executive Officer of the Ghana Association of Banks (GAB), warned on Wednesday, July 22, at the maiden edition of the JoyNews' Digital Economy Forum, that Ghana risks a digital trust crisis if rising concerns around fraud are not addressed urgently. He stated, "We are not there yet. But are we heading there? I would say yes."
Mr. Awuah explained that signs of declining confidence are emerging as some consumers question digital transactions and payment processes. He cited an encounter where an individual was hesitant to share a bank account number for a direct transfer due to previous experiences with fraud, despite an account number alone not compromising funds. He cautioned that if stakeholders fail to address concerns early, consumers could withdraw from digital platforms, making it difficult to rebuild confidence. Mr. Awuah stressed that maintaining trust is critical to sustaining the significant growth of Ghana's digital payments ecosystem.
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John Awuah, CEO of the Ghana Association of Banks, has warned that Ghana faces a potential digital trust crisis if rising fraud concerns are not
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