Financial Crime World

Cybercrime in Finance in Fiji Raises Concerns

The Consumer Council of Fiji has released a report titled “Beyond Access: Consumer Perspective on Digital Finance in Fiji” which highlights the concerns of consumers regarding the security of their personal and financial information when using digital financial services.

Key Findings

  • 64% of respondents are very concerned about the security of their information.
  • 47% of consumers surveyed use digital financial services on a weekly basis.
    • 51% use mobile money wallets
    • 24% use EFTPOS
    • 16% use internet banking
  • Only 23% have ever lodged a complaint with their service provider regarding issues they faced.

Cybersecurity Concerns

Deputy Prime Minister Manoa Kamikamica emphasized the importance of ensuring cybersecurity is embedded in the design of digital financial tools and not as an afterthought. He noted that the government is committed to providing an enabling, equitable, conducive, and safe digital environment for all stakeholders.

  • Prioritizing cybersecurity measures is crucial given the increased use of digital tools and the trans-boundary nature of most cyber-enabled crimes.
  • The country has laws such as the Cybercrime Act in place to combat cybercrimes and promote international collaboration.

Government Initiatives

The Deputy Prime Minister announced that the government is taking steps to accede to the Budapest Convention, an international instrument aimed at combating cybercrime and promoting swift international cooperation. Additionally, Fiji will be undertaking its second Cybersecurity Maturity Model Assessment, a tool developed by the University of Oxford to holistically review cybersecurity posture and identify areas for improvement.

  • Fiji was one of the first countries globally to use this tool in 2015.
  • A second assessment is timely given the evolving threat landscape.

Commitment to Inclusive Digital Environment

The government remains committed to prioritizing the meaningful participation of marginalized communities, having recently launched the Women Entrepreneurs Finance Code to remove existing barriers.