Financial Crime World

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Cybercrime and Financial Institutions in Kiribati: A Growing Concern

In a digital age, cybercrime has become a major concern for financial institutions in Kiribati. The Pacific nation is no exception to the global trend of increasing cyberattacks on financial systems. In this article, we will explore the current state of cybercrime policies and strategies, legislation, and international cooperation in Kiribati.

Cybercrime Policies and Strategies

Kiribati has a National Cybersecurity Strategy released in 2020, which outlines short-term, medium-tem, and long-term objectives to address cybersecurity and cybercrime. The strategy aims to:

  • Strengthen the country’s cybersecurity framework
  • Promote public awareness
  • Enhance international cooperation

The Ministry of Information Communication Transport & Tourism Development (MICTTD) is responsible for advising the Government on ICT-related matters, coordinating ICT projects, and promoting the use of ICT in the country. The ministry also provides cyber security advice and awareness programs for the general public.

Cybercrime Legislation

In August 2021, Kiribati approved the Cybercrime Act, which was developed with technical advice and support from the Attorney General Office of the Australian Government and the Council of Europe. The act aims to align with the Budapest Convention on Cybercrime and will enable Kiribati to join the convention in the future.

The Cybercrime Act covers various computer misuse offenses, including:

  • Data breaches
  • Hacking
  • Cyberstalking

The legislation also provides for international cooperation in investigating and prosecuting cybercrimes.

International Cooperation

Kiribati is a signatory state to several international conventions, including:

  • Convention on the Rights of the Child
  • United Nations Convention against Transnational Organized Crime
  • International Telecommunication Union (ITU)

The country is also a member of regional programs and networks, such as:

  • Pacific Cyber Security Operational Network (PaCSON)
  • Cyber Safety Pasifika (CSP) Program
  • Pacific Island Law Officers Network (PILON)

Kiribati has received funding from various initiatives, including:

  • GLACY+ (Global Action on Cybercrime Extended) implemented by the Council of Europe
  • e-Safety Women Model in the Pacific implemented by Australia’s eSafety Commissioner

Competent Authorities

The Attorney General is responsible for making requests for international assistance in criminal matters. The Ministry of Foreign Affairs and the Cybercrime Unit are also involved in international cooperation on cybercrime issues.

Conclusion

Cybercrime is a growing concern for financial institutions in Kiribati. The country has taken steps to develop its cybersecurity framework and international cooperation mechanisms. However, more needs to be done to protect the country’s financial systems from cyber threats. As the situation continues to evolve, it is essential that stakeholders work together to address this critical issue.