Financial Crime World

São Tomé and Príncipe: A New Battlefront in Cybercrime and Financial Fraud

The tiny African island nation of São Tomé and Príncipe has taken a significant step towards bolstering its cybersecurity defenses by publishing a new comprehensive cybercrime law. Confirming the publication on October 6, 2017, was João Luís Traça, a partner at Miranda & Associados.

New Comprehensive Cybercrime Law

  • Law 15/2017: Published on October 6, 2017, São Tomé and Príncipe’s new cybercrime law covers a variety of unlawful activities related to IT and telecom networks.
  • International Best Practices: This legislation aligns the country’s legal framework along international best practices in cybersecurity.

Targeted Activities

The new law aims to combat the following unlawful activities:

  • Unlawful Access: Gaining access to systems or data without proper authorization.
  • Interception: Listening in on or monitoring data transmissions without authorization.
  • Sabotage: Tampering with systems or data with the intent to cause damage or disrupt services.

Significance of the New Law

According to João Luís Traça:

  • “It is quite comprehensive”: This law provides a robust foundation for combating cybercrime and financial fraud in São Tomé and Príncipe.
  • “Clear Dedication to Securing Digital Landscape”: Despite facing resource and infrastructure challenges, the government is fully committed to addressing cyber threats head-on.

Message to Potential Perpetrators and Reassurance to Partners

  • Strong Message to Potential Perpetrators: The new law sends a strong message to potential cybercriminals and financial fraudsters that São Tomé and Príncipe is taking concrete steps to safeguard digital assets.
  • Reassuring International Businesses and Investors: The legislation is expected to reassure international businesses and investors that the island nation is committed to protecting their digital assets and maintaining economic development.

Further details on the specific regulations outlined in the new legislation will be revealed in due course. In the meantime, São Tomé and Príncipe’s announcement underscores the increasing importance of cybersecurity in an increasingly interconnected and digital world, with more nations taking proactive steps to safeguard their digital landscapes.