Jamaica lost billions to cyber crime

MOCA published Article on July 3, 2019 about cyber thieves run rampant-Jamaica suffering billions in losses from online crime. MOCA means Major Organised Crime and Anti-Corruption Agency. Here’s a quick summary just for you.

In 2016, Jamaica lost more than 12 billion dollars to cyber crime.

Key points:

  • Edwards says that cyber-crime is a new frontier of crime.
  • Long established, where the focus was on physical borders to protect. He expressed that, once there is an internet, you can be anywhere in the world.
  • He believes that 12 billion is an underestimate and that many attacks are swept under the mat to protect businesses reputation.
  • Bank of Jamaica made a report in 2018, which states that 62ncounts of fraud was reported with a total loss of 38.2 million between January and September.
  • At least two attacks occur each month with an average loss of 4 million.
  • University of the west indies professor states that hackers are now being given key roles in gangs.
  • He also expressed that it is now easier to get into with criminals being younger that before.

 

Reference: https://moca.gov.jm/cyber-thieves-run-rampant-jamaica-suffering-billions-in-losses-from-online-crime/

 

Contributed by: Tahjay K. Thompson from Jamaica. Tahjay is a member of the CCST Discord group from the G5 Cyber Security Foundation Ltd. Learn more about CCST (Caribbean Cyber Support Team) by visiting caribbeancst.org. CCST is a collaborative group on the Discord platform for Caribbean people in IT, from beginners to experts.

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