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Cybersecurity in Banking in Timor: A Concerning State of Affairs

Timor-Leste, a small island nation in Southeast Asia, has been found to be lacking in its cybersecurity measures, particularly in the banking sector. With only 1.10% of its population using the internet, the country is vulnerable to cyber threats.

Legal Framework

The legal framework for cybersecurity is non-existent, with no specific legislation or regulation in place to address cybercrime and protect against online threats. There is also no officially recognized national Computer Incident Response Team (CIRT) or certification program for public sector professionals.

Cybersecurity Strategy and Roadmap

Furthermore, there is no cybersecurity strategy or roadmap for governance in the country, leaving banks and financial institutions without a clear plan to protect themselves from cyber attacks. The lack of technical measures, such as standards and frameworks, also puts the banking sector at risk.

Capacity Building

Capacity building is another area of concern, with no educational programs or research and development initiatives focused on cybersecurity. There are also no certified public sector professionals in the field, making it difficult for banks to find qualified personnel to protect against cyber threats.

International Cooperation

International cooperation is limited, with Timor-Leste being a member of the ITU-IMPACT initiative but lacking frameworks for sharing cybersecurity assets with other countries or within its own public and private sectors.

Child Online Protection

In addition to these concerns, child online protection is also an issue in Timor-Leste. While there is some legislation in place, it only covers children under 17, leaving a significant gap in protection. There is no agency responsible for child online protection, and no website or hotline dedicated to reporting incidents.

Conclusion

Overall, the state of cybersecurity in banking in Timor-Leste is concerning, with many areas that need improvement to protect against cyber threats and ensure the security of financial transactions.