Cybercrime in Finance: A Growing Concern in Tonga
As the Pacific island nation of Tonga continues to develop its financial sector, it is facing a growing threat from cybercriminals. With only 35% of its population having access to the internet, the country’s financial institutions are particularly vulnerable to online attacks.
Legislation and Framework
Despite having specific legislation on cybercrime, such as the Computer Misuse Act 2003 and the Evidence Act, Tonga lacks a comprehensive cybersecurity framework. The country does not have an officially recognized national CIRT (Computer Emergency Response Team), nor does it have any sector-specific cybersecurity standards or certification programs for government agencies or professionals.
Capacity Building
The lack of capacity building initiatives in cybersecurity is also a concern. Tonga does not have any nationally recognized educational and professional training programs to raise awareness about cybersecurity, promote cybersecurity courses in higher education, or certify professionals in the public or private sectors.
- No nationally recognized educational and professional training programs
- Limited awareness about cybersecurity among professionals and citizens
Cooperation and Partnerships
Tonga does not have any officially recognized partnerships for sharing cybersecurity assets across borders or with other nation-states. However, it is a member of the ITU-IMPACT initiative and has access to relevant cybersecurity services.
Child Online Protection
Child online protection is also an area of concern in Tonga. The country has enacted specific legislation on child online protection through the Pornography Control Act and Section 115A of the Criminal Code. However, it does not have an officially recognized agency that offers institutional support or a reporting mechanism for incidents related to child online protection.
National Cybersecurity Strategy
In light of these concerns, the Tongan government is working to establish a Cyber Challenge Task Force to develop a national cybersecurity strategy and roadmap. The task force is currently drafting a three-year implementation plan focusing on cybercrime, cybersecurity, and cybersafety.
- Developing a national cybersecurity strategy and roadmap
- Prioritizing cybersecurity in financial sector development
Conclusion
As Tonga continues to develop its financial sector, it is essential that the country prioritizes cybersecurity and takes concrete steps to protect its financial institutions from online threats. By establishing a comprehensive cybersecurity framework, building capacity among professionals and citizens, and promoting cooperation and partnerships, Tonga can reduce the risk of cybercrime and ensure the continued growth and stability of its financial sector.