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Cybercrime in Finance: Sierra Leone Parliament Passes Landmark Bill into Law

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The Sierra Leonean Parliament has made a significant step towards combating cybercrime in finance by passing the Cyber Crime Bill, titled “The Cyber Security and Crime Act 2021”, on Wednesday, June 23, 2021.

Key Objectives of the New Law

• Prevent the abusive use of computers
• Facilitate the collection of electronic evidence for investigation and prosecution of cybercrimes
• Protect critical national information infrastructure
• Promote cybersecurity
• Safeguard computer programs, intellectual property, and privacy rights

The bill was introduced by Minister of Information and Communication Mohamad Rahman Swarray. However, its passage has sparked debate among Sierra Leoneans, with some citizens expressing concerns that the government is using its power to silence opposition voices.

Mixed Reactions on Social Media

The passage of this bill has been met with mixed reactions on social media platforms, with some individuals accusing the government of overstepping its bounds. Despite these concerns, experts warn that the lack of adequate cybersecurity measures has left the country vulnerable to attacks from sophisticated hackers and scammers.

Impact on Sierra Leone’s Financial Sector

The new law comes into effect at a critical time for Sierra Leone’s financial sector, which has been grappling with the increasing threat of cybercrime. The passage of this bill is seen as a major step towards addressing these concerns and ensuring the safety and security of financial transactions in Sierra Leone.

Conclusion

As the country continues to grapple with the implications of this landmark legislation, one thing is clear: the fight against cybercrime in finance has taken a significant leap forward in Sierra Leone.