Financial Crime World

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Mozambique Faces Cybercrime Threats: Financial Institutions Under Siege

Mozambique, a country in southeastern Africa, is grappling with the growing threat of cybercrime, which has significant implications for its financial institutions. The National Cyber Security Strategy (2017-2021) aims to create a safer and more resilient cyberspace for the government, private sector, civil society, and other institutions.

National Cyber Security Strategy

The strategy has five key objectives:

  • Improving the protection of critical information infrastructure
  • Strengthening the legal, technical, and operational cybersecurity framework
  • Establishing a national framework to promote information sharing, cooperation, and coordination on cybersecurity
  • Developing technical capacity for research and innovation in security cybernetics
  • Creating a national culture of cybersecurity

National Computer Emergency Response Team (CERT)

To achieve these objectives, Mozambique has created a national CERT under the first key objective. The CERT plays a crucial role in responding to cyber threats and incidents, providing assistance to affected organizations, and coordinating with other stakeholders.

Laws to Combat Cybercrime

In addition to the National Cyber Security Strategy, Mozambique has also enacted laws to combat cybercrime. These include:

  • The Penal Code, Articles 336 to 339, which criminalize computer fraud, data interference, systems interference, and misuse of devices
  • Law n.º 3/2017 on Electronic Transactions
  • Law n.º 14/2013 on Preventing and Combating Money Laundering and Financing of Terrorism

Mozambican Constitution

The Mozambican Constitution also grants several rights and liberties, including:

  • The right to life, physical and moral integrity, honor, reputation, private life, freedom of expression, association, and security
  • These constitutional provisions are essential for ensuring that any measures taken to combat cybercrime do not infringe upon individual rights and freedoms.

Specialized Institutions

Mozambique has also established specialized institutions to address cybercrime. These include:

  • The Financial Intelligence Unit (FIU), which is responsible for analyzing and investigating suspicious transactions related to money laundering and terrorist financing
  • The International Cooperation Office, which promotes international cooperation in extraditions and mutual legal assistance regarding criminal investigations and procedures related to money laundering and financing of terrorism.

Jurisprudence

In terms of jurisprudence, Mozambican courts have issued several judgments related to cybercrime. For example, a recent court decision punished an individual for hacking into a bank’s computer system and stealing sensitive information.

Sources

  • National Cyber Security Strategy (2017-2021)
  • Penal Code, Articles 336 to 339
  • Law n.º 3/2017 on Electronic Transactions
  • Law n.º 14/2013 on Preventing and Combating Money Laundering and Financing of Terrorism
  • Mozambican Constitution
  • Financial Intelligence Unit (FIU)
  • International Cooperation Office