40JAMAICA’S CYBERCRIME AND CYBER-SECURITY

Policies, laws, and strategies

Suzette A. Haughton

Introduction

Cybercrime is a global problem and trends have indicated that the financial sector is a highly targeted area for cyber criminals. In 2015, the global estimate of the cost of cybercrime stood at USD $500 billion and projections are that by December 2019 cybercrime cost will increase to USD $2 trillion. However, these estimates are modest as the Global Risk Report (2016) noted that significant incidents of cybercrimes go undetected (The Global Risk Report, 2016). The threats posed to states are glaring as their internet interconnectivity and computer usage increases. Hence, rising cyber dependency is ranked among the 13 risks identified ...

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