The Bank of Ghana has allayed fears that banks are at risk from computer hackers because Microsoft has withdrawn security for Windows XP, which most automated teller machines (ATMs) run on.
Inside the ATM hardware are computers which run on operating systems that are dominated by Microsoft’s Windows XP.
The withdrawal of security for the software after April 8 could expose customers’ deposits and the bank’s own funds to risks from fraudsters who could hack into the ATMs and withdraw money that does not belong to them.
The Deputy Head of Supervision at the Bank of Ghana, Dr Setor Amediku, told the GRAPHIC BUSINESS on telephone that the banks were aware of the situation and had updated their software accordingly.
“No… we don’t see any risk here because the banks have service providers that handle such things for them and they will advise them and comply with the situation,” Dr Amediku said.
At the time of the interview a couple of weeks ago, he explained that most of the 28 banks in the country had already complied.
Most banks in the country use the services of bullion handling companies such as Mon-Tran to move their species and also manage their ATMs. NCR, a leading ATM sales and distributor, also manages majority of ATMs on behalf of banks.
About 95 per cent of ATMs in the country run on the 12-year-old Windows XP, for which Microsoft cut its technical support, including providing security, in spite of some pressure from heavy user countries such as China.
The Executive Secretary of the Ghana Association of Bankers (GAB), Mr D. K. Mensah, also corroborated the Bank of Ghana’s stance, saying since many of the banks used international credit and debit cards such as Visa, MasterCard and Union Pay, they would be made to comply with the change well in time.
Mr Mensah added that since the ATMs were managed by third parties upon agreements with them, he was hopeful the banks would update their software.
The Ghana Interbank Payment and Settlement System (GhIPSS), set up to drive a cashless economy, was worried ahead of the April 8 deadline that the banks and their customers could be at risk if upgrades were not done from Windows XP to more latest versions such as Windows seven up to 10.
GhIPSS said in a statement that Windows 7, for instance, became available in 2009 and banks did not have any excuse not to upgrade their systems.
