Cyber Resilience Must Focus On Marginalized Individuals, Not Just Institutions

Abstract: 

While previous focus has gone towards ensuring the cyber resiliency of corporations and financial institutions, improving the cyber resiliency of individuals and communities most susceptible to harm is essential in ensuring global financial security. Marginalized communities in Africa who have only recently begun to use digital financial services could eventually be excluded from the digital economy if they fail to rebound after a cyber attack. In order to increase cyber resilience for these groups, policy and regulation must take a consumer-centric approach, while financial technology providers should create more advanced technical protections for them. In a region where mobile fraud remains high, the damages often fall upon both the companies and consumers. Although marginalized groups do not make up a large portion of the victims, the effects often weigh on them disproportionately and have a much larger impact. Participating in the digital economy is crucial for these communities, especially as it creates more economically resilient communities. However, this progress is threatened by a lack of cyber resiliency initiatives for marginalized groups.

Author: 

Aubra Anthony

Year: 

2023

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