According to him, the cyber-attacks will escalate in the coming years, given the increase in Internet penetration and the massive reliance on ICT devices for transactions.

“Cyber-attacks promise to escalate in the years to come, especially with the increase in Internet penetration and the massive reliance on ICT devices – such as the use of mobile phones for transactions and interaction by citizens. Mobile phones have facilitated easy access to social networks and to business transactions,” he said.

Dr Antwi-Bosiako said this while he spoke to journalists after the launch of a Point of Contact (POC), an innovation to curb cyber crime in the country.

He noted that a successful infiltration of these systems and platform will not only undermine confidence in the country’s digitalisation measures but also have detrimental impacts on the economic activities of individuals.

Ghana’s payment system shows that the registered number of mobile money accounts increased to 22.99 million in June 2018 from 21.36 million recorded in June 2017.

This, however, means that a significant percentage of the population are sending and receiving money through their phones.

The Advisor, hence, noted that although the figure recorded the previous year ($105million) was more than this year, it is important to put measures in place to help curb the menace.