Cybersecurity firm Check Point has raised alarm over a sharp increase in cyberattacks targeting African banks, reporting a rise of one hundred and fifteen percent in recent months. The company warned that financial institutions across the continent face growing threats from sophisticated digital criminals.
According to the firm’s analysis, attackers are increasingly exploiting weak security systems, phishing schemes, and ransomware to gain access to sensitive financial data. Banks, which manage large volumes of transactions and personal information, have become prime targets.
Check Point said many institutions are struggling to keep pace with evolving cyber threats due to outdated systems and limited investment in cybersecurity infrastructure. Smaller banks and microfinance institutions are considered particularly vulnerable.
Experts note that as digital banking expands, so do the risks. The shift toward mobile transactions and online services has improved financial inclusion but also opened new entry points for cybercriminals. Fraudulent emails, fake websites, and malicious software are commonly used to trick customers and staff.
The company urged banks to adopt stronger security frameworks, including multi factor authentication, real time threat monitoring, and regular staff training. It emphasized that human error remains one of the biggest cybersecurity weaknesses.
Regulators across Africa have also been encouraged to enforce stricter compliance standards and reporting requirements. Cybersecurity specialists say collaboration between banks, governments, and technology providers is essential to detect and respond to attacks quickly.
Customers have been advised to remain vigilant, avoid suspicious links, and report unusual account activity immediately. Public awareness campaigns are seen as a key part of reducing the success rate of cyber fraud.
Industry analysts warn that failure to strengthen digital defenses could erode trust in the banking sector and slow the growth of digital finance. They argue that cybersecurity should be treated as a core business priority rather than a technical afterthought.
The alert from Check Point highlights the urgent need for African financial institutions to upgrade their defenses in an increasingly hostile digital environment.
