BUSINESS NEWS
June 15, 2012 12:00:00 AM
  Follow @ Twitter

The Reserve Bank of Fiji(RBF)is concerned about the increase in the number of cyber fraud cases brought to the attention of the police, Financial Intelligence Unit, the commercial banks and the Association of Banks.

The Director of the Financial Intelligence Unit, Razim Buksh in a statement said cyber-crime is committed by criminals who are technologically competent by exploiting internet and computer technology for monetary benefit.

Buksh said the authorities in Fiji are taking this matter seriously and have established a strong networking and partnership with domestic as well as foreign counterpart agencies.

International cyber-criminals who previously were not caught should not take things for granted anymore.

Buksh said recently, authorities were able to investigate and prosecute a businessman from Vanuatu, Johnny Albert Stephen for involvement in internet banking fraud that he committed in Fiji.

Stephen was charged, convicted and sentenced in April 2012 to seven years imprisonment for money laundering.

Buksh said this would send a strong message that Fiji is an equally committed partner in the fight against money laundering and cyber-crime globally.

The Financial Intelligence Unit (FIU) has a mandate under the Financial Transactions Reporting Act to ensure the safety and protection of the financial system and the members of public from money launderers, cyber-criminals and other crimes involving financial transactions.

The commercial bank also played a key role in assisting and cooperating with the FIU and the Fiji Police Force.

Buksh said the recent use of internet banking facility portals at local commercial banks has been targeted by criminals for cyber-crime related activities, hacking, identity theft and advance fee fraud scams.

The FIU, commercial banks as well as the Association of Banks in Fiji have alerted customers and members of the public to exercise caution and care when accessing their bank accounts online.

By Ropate Valemei

 

Wiggle


PREVIOUS STORY
Stop depending on Aust/NZ on tourism:AG
NEXT STORY
Chinese investors to boost economy: PM

Bookmark and Share
   




FIJI NEWS
570,000 plus Fijians registered for electionAs of 30 June, the Fijian Elections has registered approximately 570,000 voters.
WORLD
'Green'-tinted SUVs at Seoul Motor ShowGas-guzzling SUVs, eco-friendly electric cars and the odd brave attempt to marry the selling points of both are taking centre stage at the biennial Seoul Motor Show.
TECHNOLOGY
Only call details given to police in 670 cases: VFVodafone Fiji says it provided call details in 670 cases to police on the production of a search warrant or court order, but does not listen to or record calls, and could not provide such information.
HEALTH/FITNESS
Clean-up day to curb dengue outbreakFiji's Ministry of Health has declared a clean-up day next Thursday for residents in the central division as it ups the tempo against a dengue fever outbreak currently experienced in the country.
SPORTS
Labasa to play home game awayThe Babasiga Lions will host their home game against Suva at the ANZ Stadium in Suva, the Fiji Football has confirmed.
ENTERTAINMENT
5 Seconds of Summer announce Aust, NZ showsHot on the heels of selling out two shows at Londonís iconic Wembley Arena, the chart-topping Sydney boys are heading out on the road to play their first-ever headline Australian and New Zealand arena shows, touring in support of their recently released self-titled #1 smash hit debut album.
NEWS SPORTS INFOTAINMENT SERVICES MOBILE EXTRA HOT TOPICS