Sifelani Tsiko — Zimbabwe must step up efforts to reform its laws to help tackle cyber-security threats and online crimes, Zimbabwe Anti-Corruption Commission chairperson Mr Michael Reza has said.
He told participants at a conference on e-business practice, research and innovation at the Harare Institute of Technology Technovation Expo 2024 yesterday that the country's laws were now overdue for review and reform given the evolution of technology and cyber threats to business and the country.
"As digital technologies evolve, so do the methods used to perpetrate financial crimes," Mr Reza said.
"Our legal frameworks must continuously adapt to address emerging threats and ensure that regulatory measures remain effective.
"While the Anti-Corruption Commission Act provides a framework for combating corruption, reforms are needed to address the challenges posed by digital technologies, especially in financial crimes."
HIT is hosting the Technovation Expo under the theme: "Beyond Disruptive lnnovation."
The Expo, running from September 3 to 7, seeks to showcase the university's research outputs with a potential to drive the country's industrialisation.
"In this era of the proliferation of digital technologies, it is trite for us as a country to introspect on how we can leverage digital technologies for economic growth while addressing financial crimes in Zimbabwe," Mr Reza said.
"As we converge here to explore how digital technologies can drive economic growth, it is imperative to address the challenges they pose to the integrity of our financial systems and the currency itself."
He said digital technologies could streamline processes, reduce transaction times, and lower operational costs.
"Digital technologies enhance transparency by making transactions more traceable and accessible," the ZACC chairperson said.
"Blockchain and other digital record-keeping technologies can reduce corruption and ensure accountability in both public and private sectors."
Digital technologies are posing serious challenges to the country, particularly in the realm of financial crimes.
These include cybercrime and fraud, cyber-attacks, including hacking, phishing and identity theft.
