Sera Navuga 
[File Photo]
Ten trillion dollars was lost to cybercrime worldwide last year.
Speaking at Day 2 of the Tourism Superweek, the Director for Digital Security at Mastercard, Samuel Stuart, highlighted that cybercrime is costing companies a significant amount of money in countries all over the world, and the Pacific Islands are not immune to these threats.
Stuart says the scale of the problem is only expected to grow.
He forecasts that by 2027, cybercrime damages will reach $23 trillion annually, driven by an increasing number of attacks targeting both public and private sector systems.
Stuart says Fiji is also vulnerable to these attacks.
“So I think with cybercrime being a multi-trillion dollar global problem, which Fiji isn’t immune to, what we’ve been doing is working with the community and our banking partners to raise awareness, education, and bring solutions to the community that they can leverage and use to help build a safe and secure system as they start to explore new payment channels and ways of doing business online.”
Stuart says that while once limited to large corporations, today’s hackers are targeting organizations of every size, from national governments and banks to small tourism operators and infrastructure providers.
Stream the best of Fiji on VITI+. Anytime. Anywhere.
