Technology encourages fraud

Modern technological advances were meant to reshape businesses but unfortunately, are now the incentives of fraud, the Minister of Finance and Development Planning, Kenneth Matambo has said. Speaking at the Botswana Institute of Bankers Annual dinner held last week, Matambo said as more sophisticated technologies are adopted to execute financial transactions, criminals are also devising new and more complex approaches in perpetrating fraud. He said the impact of fraud on any bank has a negative impact on long-term customer confidence.