Kowalski said this at the opening of a Financial Crimes Training Seminar presented by the U.S. Secret Service to Namibian law enforcement officers, Bank of Namibia officials and members of the private sector, on Tuesday in Windhoek.

The three-day seminar ending on Thursday, provides techniques and tools to combat increasingly sophisticated transnational criminal organizations and cybercriminals trying to exploit the financial systems of Namibia.

“Protecting the integrity of the world’s financial systems leads to increased peace and stability,” he added.

Kowalski said that the actions of cybercriminals and terrorists do not stop at legally defined international borders like they do for law enforcement officers or banking officials.

“That is why nations must work together to combat these criminal alliances and solidify the finance sector from their influence,” he added.

According to the Bank of Namibia, bank fraud cases increased from 178 in 2014 to 251 in 2015, and these frauds were increasingly being perpetrated electronically either via Electronic Funds Transfer, hacking, or malware.

Meanwhile, Check Point Software Technologies, the largest global pure-play network security cyber vendor, ranks Namibia as second in the world for facing the greatest threat of a cyber-attack. Enditem

Source: Xinhua/News Ghana


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