Financial Crime World

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Cyber Security Threats Loom Large Over Fiji’s Banking Sector

Vulnerability to Cyber Attacks Exposed

Fiji’s banking sector is vulnerable to cyber attacks, posing a significant threat to the country’s financial stability and economic development. This was revealed at a regional Pacific Islands Parliamentary Workshop on Cybercrime.

Key Issues Highlighted by Speakers

  • Increasing dependence of modern life on online communications and transactions
  • Vulnerability of developing countries to cyber attacks and harmful online activities such as:
    • Cyber bullying
    • Harassment
    • Stalking
    • Use of the internet for criminal ends

Ratu Naiqama Lalabalavu’s Address

Fiji, like many other developing countries, is vulnerable to cyber attacks and harmful online activities. We must ask ourselves constantly: how safe are we when we swipe our ATM cards or fill in an online form with personal information? - Speaker of Parliament Ratu Naiqama Lalabalavu.

Role of Members of Parliament

  • Ensuring comprehensive and multi-stakeholder governance models, which is a key component of cyber security
  • Advocating for international treaties that promote cyber security
  • Domesticating cybersecurity legislation

Progress in Other Pacific Islands

Kiribati’s Efforts

Kiribati’s House of Assembly Speaker Tangariki Reete shared her country’s progress on ratifying the Budapest Convention on Cybercrime, which includes conducting awareness programs on “staying safe” on the internet nationwide.

Vanuatu’s Experience with Cyber Attacks

Vanuatu’s First Deputy Speaker Andrew Solomon Napuat revealed that his country was not new to cybercrime activities, having experienced a cyber attack on its whole-of-Government network in 2022. He expressed hope to gather more information and discussions from the workshop to share with Members of Parliament in their efforts to address cybercrime in Vanuatu.

Regional Action Plan

The program ends today with presentations from regional leaders, including the Secretary-General for the Pacific Islands Forum Henry Puna, who will discuss the adoption of a Plan of Action to combat cybercrime in the region.