Financial Crime World

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Cybercrime in Finance Industry in Egypt on the Rise, Experts Warn

CAIRO - The Egyptian finance industry has been rocked by a surge in cybercrime, with experts warning that the country’s customs officials are increasingly being targeted by hackers and other malicious actors. In response to this growing threat, the International Organization for Migration (IOM) has launched a training program aimed at equipping Egyptian customs officers with the skills they need to prevent and respond to cybercrimes.

Training Program Launched

The IOM, in collaboration with the Egyptian Customs Authority and the Ministry of Finance, conducted its first capacity-building activity on “Cybersecurity and Cybercrime Prevention” earlier this month. The training session, which was held in Alexandria from June 20-22, brought together 29 customs officers, including frontline officers and information security specialists.

Program Objectives

The training program aimed to:

  • Raise awareness among Egyptian customs officials about the importance of information security
  • Introduce participants to the fundamentals of information security, including threats to confidentiality, integrity, and availability of information
  • Provide examples of cyber threats such as hacking and ransomware, and illustrate the harm they can cause

Interactive Training Session

The training session was highly interactive, allowing participants to engage with the trainer and discuss key issues with their peers. It was made possible thanks to the generous support of the Government of the Kingdom of Denmark through its “Strengthening the Sphere of Protection for Victims of Trafficking and Vulnerable Migrants in Egypt while Preventing Irregular Migration and Human Trafficking” (SPHERE II) program.

Alignment with Global Goals

The training activity is closely aligned with the United Nations’ Sustainable Development Goals, including:

  • Goal 16: “Peace, Justice, and Strong Institutions”
  • Goal 17: “Partnerships for the Goals”

It also aligns with the Global Compact for Migration’s objective to manage borders in an integrated, secure, and coordinated manner.

Contact Information

For more information, please contact the IOM Egypt office at naafify@iom.int.