Financial Crime World

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Cybercrime on the Rise in Cape Verde’s Finance Industry

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Cape Verde, a small island nation off the coast of West Africa, has been grappling with the growing threat of cybercrime in its finance industry. The country’s National Strategy on Cybersecurity, approved in 2016, aims to combat this menace by developing appropriate legislation and mechanisms for responding to cyber incidents.

Cybercrime Legislation

In November 2016, Cape Verde introduced a new law on cybercrime, which entered into force in March 2017. The law defines various criminal offenses related to computer fraud, damage, sabotage, illicit access, interception, and misuse of devices. It also provides for the confiscation of devices used in cybercrimes by the state.

Procedural Dispositions

The law outlines several procedural tools to help investigators track down and prosecute cybercriminals. These include:

  • Expedited preservation of data
  • Disclosure of traffic data
  • Production orders
  • Searches of computer data
  • Seizures
  • Communication interceptions

Human Rights Considerations

Cape Verde’s Constitution guarantees various fundamental human rights and freedoms, including the inviolability of rights, liberties, and guarantees. The law on cybercrime must be interpreted in accordance with these constitutional provisions to ensure that any restrictions on individual rights are proportionate and necessary.

Specialized Institutions

The National Communications Agency (ANAC), an independent regulator in the sector, is responsible for ensuring the development of the ICT sector in Cape Verde. ANAC has cybersecurity and cybercrime as among its main focus areas. Additionally, a high-level unit called the National Center on Cybersecurity coordinates the implementation of the country’s national cybersecurity strategy.

International Cooperation

The law on cybercrime also provides for international cooperation in combating cybercrime. It defines the framework for cooperation with other countries and establishes a permanent contact point for international cooperation at the Public Ministry level. The law also outlines specific provisions related to expedited preservation, disclosure, and access of computer data in international cooperation.

Jurisprudence and Case Law

While there is limited case law on cybercrime in Cape Verde, the country’s courts have been working to develop jurisprudence on this topic. As more cases come before the courts, we can expect to see a clearer understanding of how the law applies in practice.

For more information on Cape Verde’s efforts to combat cybercrime, please visit the website of the National Center on Cybersecurity or consult with the Public Ministry of Cape Verde.