Financial Crime World

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Cybersecurity Threats to Financial Systems in Peru on the Rise

Lima, Peru - As cybercrime continues to pose a significant threat to financial systems worldwide, Peru has taken steps to strengthen its laws and regulations to combat this growing menace.

Strengthening Laws and Regulations

Peru’s independent law that punishes and sanctions cybercrime, Law 30096 on Computer Crime, has been in force since October 2013 and has undergone several amendments. The law adopts substantive provisions from the Budapest Convention, which Peru ratified through Supreme Decree N° 010-2019-RE.

Offenses Sanctioned Under Peruvian Law

The offenses related to the use of information and communication technologies that are sanctioned under the current substantive law in Peru include:

  • Misuses of devices and information mechanisms
  • Illegal access to computer systems
  • Sexual harassment
  • Advocacy of crime
  • Violations of the radio electrical spectrum
  • Attacks against the integrity of computer data

Combating Cybercrime

To combat cybercrime, the Peruvian Government has granted powers to attorneys to authorize undercover agents to conduct investigations of offenses related to computer crimes. The National Police of Peru has also been given the authority to establish communication mechanisms with governing bodies and provide expertise in developing programs for the proper prosecution of computer crimes.

Private Sector Cooperation

Moreover, the law provides that private sector entities involved in the fight against cybercrime must establish operational cooperation protocols to ensure the exchange of information, transmission of documents, and interception of communications.

Key Players

  • The Peruvian Government
  • The National Police of Peru
  • Private sector entities involved in the fight against cybercrime
  • Attorneys and prosecutors

Challenges Ahead

  • Strengthening laws and regulations to combat cybercrime
  • Improving public-private partnerships
  • Enhancing international cooperation to combat cybercrime effectively
  • Educating the public about cybersecurity threats and best practices to protect themselves from cyber attacks.

Expert Insights

“Cybersecurity is a growing concern for financial systems worldwide, and Peru is no exception,” said an expert. “While we have made progress in strengthening our laws and regulations, more needs to be done to protect ourselves from these threats.”

“We must continue to work together with the private sector and international partners to combat cybercrime effectively,” added another expert.