Guyana’s Prime Minister Underlines Commitment to Strengthening Cyber Resilience Amid Rise of Cybercrime in Finance Industry
Introduction
Guyana’s Prime Minister, Mark Phillips, has reaffirmed the government’s commitment to investing in measures to strengthen the country’s cyber resilience. This comes as the country seeks to leverage Information and Communication Technologies (ICTs) to drive its transformation.
National Cyber Risk Assessment Workshop
Speaking at the opening of a National Cyber Risk Assessment workshop facilitated by the United Kingdom, Phillips emphasized the need for stakeholders to adopt cybersecurity practices to ensure continued provision of key services and economic stability. He urged that “we must secure Guyana’s future, we must secure our people’s well-being, we need to secure our critical infrastructure.”
Growing Concerns over Cybercrime in Finance Industry
The comments come amidst a growing concern over cybercrime in Guyana’s finance industry. Experts warn of potential threats to financial institutions and individual investors.
US Government Official’s Warning
A US government official recently called for increased efforts against cybercrime, citing the need for Guyana to bolster its defenses against emerging threats.
International Support and Collaboration
A delegation from the US Department of Justice, led by Deputy Assistant Attorney General Richard W. Downing, visited Guyana last week to raise cybersecurity solutions with government representatives and other stakeholders. The team encouraged Guyana’s accession to the Budapest Convention on Cybercrime, which would provide additional resources for law enforcement responses to cybercrime.
Cyber Defense Assessment Team
A cyber defense assessment team from the US Southern Command and Florida National Guard is also expected to arrive in Guyana this week to share best practices with the country’s military networks. This visit is part of a broader effort by the US government to support Guyana in developing its national cybersecurity frameworks, particularly in the security and energy sectors.
Conclusion
As Guyana seeks to leverage ICTs to drive economic development and bridge the digital divide, the government’s commitment to strengthening its cyber resilience assumes greater importance. Experts warn that the rise of cybercrime poses significant risks to financial institutions, individual investors, and national security, underscoring the need for concerted efforts to address this growing threat.
Key Takeaways
- Guyana’s Prime Minister has reaffirmed the government’s commitment to investing in measures to strengthen the country’s cyber resilience.
- The government is seeking international support and collaboration to bolster its defenses against emerging cyber threats.
- Experts warn of potential threats to financial institutions and individual investors in the finance industry.
- The US government is providing support to Guyana in developing its national cybersecurity frameworks, particularly in the security and energy sectors.