Cybercrime on the Rise in Saint Helena’s Finance Industry
As technology advances, so do the means for criminals to carry out cyber-enabled crimes. The finance industry on the island of Saint Helena has not been immune to this trend, with reports of online scams and fraud increasing in recent months.
Warning from the St Helena Government
The St Helena Government has warned citizens about the dangers of online scams, urging them to be vigilant and take steps to protect themselves from falling victim to these types of crimes. “With a focus on family, community, nature and culture, our unique way of life makes us more susceptible to cybercrime,” said a government spokesperson.
Artificial Intelligence and Cybersecurity
The issue was highlighted during a recent conference where delegates discussed the potential benefits and risks of artificial intelligence (AI) in improving efficiency and cybersecurity. Delegates recognized that AI presents new threats, including deepfakes - artificially created images, videos or audio that have been manipulated to misrepresent someone doing or saying something that was not actually done or said.
Identifying Deepfakes
Deepfakes can damage professional and personal reputations and could lead to real-life consequences. To recognize a deepfake, look out for red flags such as:
- Inconsistencies in the content
- Poor video quality
- Unusual behavior from the person being impersonated
Government Initiatives
The St Helena Government has launched initiatives to educate citizens on how to protect themselves against cybercrime, including:
- A blood donation clinic and emergency preparedness exercise testing the resilience of their plans
- Promoting culture month and the launch of the “Celebrating Saint Helena” booklet
Budget Book Highlights 2024/25
Meanwhile, the island’s budget book highlights 2024/25, with a focus on capital investment, has been made available for viewing online. The budget book covers the government’s forecasted revenue and expenditure for the 2024/25 financial year.
Other News
In other news, the St Helena Ambassador celebrated World Blood Donor Day by hosting a blood donation clinic and awarding King Charles III’s Coronation medals to deserving individuals.
Staying Informed
The island is urging its residents to stay informed about cybercrime and take steps to protect themselves from falling victim to these types of crimes.