BCEAO National Director Calls for Trust in Electronic Money Instruments

Dakar, Nov. 28 (APS) – The National Director of the Central Bank of West African States, Ahmadou Al Aminou Lo, on Wednesday called on users to have greater confidence in electronic money instruments, notably ensuring the reliability of these tools.

'' Let's trust these electronic money instruments. They are so easy in life that they have to be used more and more to avoid cash, "he said at the exchange workshop with issuers of electronic money and companies. online payment.

According to Ahmadou Al Aminou Lo, the BCEAO has taken '' all the regulatory provisions necessary for the efficient use of electronic money instruments ''.

"Electronic money instruments offer serious guarantees of security and reliability," he said.

"In the regulatory framework, before approving an electronic money institution, the central bank asks him for a file. And in this file, we ask him his computer system. Namely the mechanisms that are put in place to avoid attacks '', explained the director of the BCEAO.

At this level, says Lo, the central bank's job is to "see if the deployed system is robust or not."

But beyond this control a priori, he added, the central bank "performs every year", through the "inspectors of the banking commission", "sharp tests" on these different systems set up by the electronic money services.

However, he reminded users that any technical system '' may be subject to some vulnerabilities '', arguing that the most important is that these vulnerabilities, once discovered, '' can immediately be corrected ''.

He also indicated that these electronic money operators have the obligation to make available to users, a complaints and complaints service, stressing that in the event of a breach of this standard, users have the possibility to refer to them. in writing to the central bank which will respond to this request in a short time.