Cybercrime Threats Pose Significant Risk to Somalia’s Financial Sector, Experts Warn
Somalia’s fragile financial system has made it vulnerable to cyber attacks, experts have warned. In an effort to address this growing threat, the Federal Government of Somalia’s Ministry of Finance has announced plans to recruit a consultant to advise on cybersecurity matters.
The National Communications Authority Issues Tender for Cyber Security Advisor
The National Communications Authority (NCA) has issued a tender for a Cyber Security Advisor who will provide technical, policy, and legal guidance to help implement the Communications Law of 2019. The advisor’s responsibilities include:
- Developing strategies to collect, synthesize, and disseminate information on cybersecurity threats
- Providing guidance on cyber security programs for member states
- Promoting accuracy and integrity of ICT data at national, regional, and continental levels
- Identifying gaps in evidence and suggesting priority research areas
- Designing a model for cybersecurity capacity building that takes into consideration policy, technology, and skills development aspects
Somalia’s Financial Sector Vulnerable to Cyber Attacks
Experts warn that Somalia’s financial sector is particularly vulnerable to cyber attacks due to its lack of robust cybersecurity infrastructure. The country’s increasing use of digital payment systems and online banking has made it an attractive target for hackers seeking to exploit its fragile system.
“Cybercrime is a significant risk to Somalia’s financial sector,” said a security expert. “With the increasing use of digital payment systems and online banking, the country is exposed to a range of threats, from fraud to identity theft.”
Consultant Responsibilities
The consultant will be responsible for providing guidance on:
- Online privacy and personal data protection issues
- Comprehensive national sensitization programs
- Best practices on critical infrastructure security
Additionally, the consultant must have extensive experience in ICT security leadership, preferably with a postgraduate degree in information or network security. The ideal candidate should have at least 10 years of experience in the field, as well as knowledge of Somalia’s fragility and prevailing challenges.
Expected Outputs
The consultant is expected to deliver a range of outputs, including:
- A comprehensive cybersecurity strategy
- Work plan
- Quarterly status reports
The position is for 12 months, with the consultant required to provide just-in-time technical assistance as needed.
Expert Warning: Cybersecurity Must be a Top Priority
As Somalia looks to strengthen its financial sector, experts warn that addressing cybercrime threats must be a top priority. “Cybersecurity is no longer an optional extra – it’s essential for any country looking to build a robust and secure financial system,” said a cybersecurity expert.
In conclusion, the recruitment of a Cyber Security Advisor is crucial in addressing the growing threat of cybercrime in Somalia’s financial sector. The consultant must have extensive experience in ICT security leadership and be able to provide guidance on online privacy, personal data protection, and critical infrastructure security.