Shania Shayal Prasad 
[file photo]
The Reserve Bank has established a cybersecurity committee as part of its growing focus on safeguarding the nation’s financial system from emerging digital threats.
RBF Governor Ariff Ali highlighted this while making a submission on their August 2021 to July 2024 Annual Report to the Standing Committee on Economic Affairs.
Ali says the committee brings together key stakeholders, including representatives from commercial banks and government agencies, to strengthen cyber defenses.
He adds that the new approach aims to tackle the increasing trend of cyberattacks in Fiji, targeting banks, payment systems, and financial infrastructure.
“But when it grows, it also comes with risks. We heard about the eBay scam, and there was another one recently involving bitcoins. Someone sent it to me, and I immediately told Communications Fiji to say that this had not been approved because, you know, in Fiji, sometimes all it takes is one greedy person.”
Ali adds the committee’s role also includes developing policies and facilitating information sharing.
The RBF also aims to raise awareness and strengthen cybersecurity protocols to protect consumers and businesses alike.
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