NBE Moves to Centralize Financial Cybersecurity as Fraud Losses Reach Br 1.3 Billion

According to Banks in Ethiopia, NBE plans a cybersecurity directorate as cyberattacks rise and digital transactions reach Br 9.69 trillion, following Br 1.3 billion in 2024 fraud losses. NBE Moves to Centralize Financial Cybersecurity as Fraud Losses Reach Br 1.3 Billion The National Bank of Ethiopia (NBE) is moving to strengthen cybersecurity across the financial sector as the rapid expansion of digital payments creates a larger and increasingly interconnected target for fraud and cyber threats.