Jamaica seems to be in a season of pandemics as, apart from the COVID-19 pandemic, which the country has yet to overcome, many Jamaicans are battling another threatening pandemic in the form of cyber
fraud.

Cyber fraud is considered as any fraudulent crime conducted via a computer or computer data.

The crimes are extensive. Fraudsters can use the cyber world to gain access to victims’ personal identity, their online accounts and their bank accounts.

51% OF ORGANISATIONS HAVE UNCOVERED MORE FRAUD SINCE COVID

Addressing the annual Anti-Fraud Seminar, hosted by Jamaica Bankers Association (JBA) and Jamaica Institute of Financial Services (JIFS), JBA President Septimus Blake shared that a recent study revealed that 51 per cent of organisations have uncovered more fraud since the onset of the COVID-19 pandemic.

“Seventy one per cent of the institutions expect that the level of fraud impacting their organisations will increase over the next year,” Blake told those gathered at the seminar.

The coronavirus predicament has created the perfect opportunity for cybercriminals and has led to an increase in the number of attacks taking place within the country. The sophistication of cybercrime continues to advance as the behaviour of cybercriminals is changing.

Fraud is not a new occurrence, it is an epidemic that continues to run rampant in Jamaica. There are different types of fraud, however cyber fraud has taken the lead within the space. Many individuals suffer at the hands of these cybercriminals on a daily basis. Businesses, especially financial institutions, are among those most targeted by fraudsters.

Director of Public Prosecutions Paula Llewellyn, the keynote speaker at the seminar, said the advent of
cybercrime has made it extremely important for personal data to be strongly protected.

“Each individual’s data must be stored separately to prevent any form of misfortune,” she said.

Llewellyn encouraged financial institutions to be keen when promoting staff as a way to mitigate fraud
and use those individuals who place service above self, have great attention to detail and have integrity.

“Do not be embarrassed when you have detected fraud within your organisation, but do the right thing and immediately call in law enforcement,” she stressed.

The Government has responded by proactively putting measures in place to mitigate the growing threat of cybercrimes in the island.

“The NIDS (National Identification System) and DPA (Data Protection Act) would help to protect data information and identity information that are gathered and stored by public and private entities,” Llewellyn noted.

Henry Morgan, of the Jamaica Customs Agency, a first-time attendee, said even though he had prior knowledge in some areas he found the seminar quite informative in some areas.

Morgan also said he shared Llewellyn’s views on how to tackle cyber fraud in Jamaica.

“There is need to implement more social programmes for the youths in our underprivileged communities,” he said.