Page 17 - IB July 2020

ICT ICT

Islands need to “develop and adopt internationally aligned
cybersecurity standards if they’re going to successfully grow
and protect their digital economies”. It suggests increased
funds, resources and technical assistance be channelled into
these efforts.
In FSM, the World Bank and other partners are addressing
this challenge. President Panuelo says the Digital FSM project
requires that the Government be capable at building trust and
confidence in the Nation’s digital security, and that many even
simple processes will need to change.
“Less than 100% of our public servants in the FSM National
Government currently use a Government email address to
complete their official Government duties,” the President Australian and Papua New Guinea officials explore options for the landing site for
said. “Even without having a background in IT, one can see the telecommunications cable from Australia to PNG in this archival photo.
Photo: DFAT
that this can pose a cybersecurity threat.”
With change in the sector comes the need for legislation supervision.
and regulations that respond to the new digital activities In a separate pilot in Samoa, the ADB is supporting the
improved connectivity will bring. In PNG, the Electronic establishment of ‘know-your-customer procedures’ and cus-
Transactions Act is making its way through parliament while in tomer due diligence among money transfer operators which
Fiji, the 2020 Cyber Crimes Bill has been tabled in parliament, “aligns with anti-money laundering and counter terrorism
and includes provisions around prosecuting people committing financing measures to facilitate opening and maintaining bank
cybercrimes and clauses on the confidentiality, integrity, and accounts in Australia and New Zealand and to address the high
availability of computer data and computer systems. cost of remittances.”
Meanwhile Australia is assisting Samoa to design its cyber There’s also a need to digitalise and ease data collection
security laws and a National Cyber Security Authority. A recent and ICT solutions to facilitate this. Writing for the South Pa-
debate in parliament heard independent MPs express concern cific Centre for Central Banking’s Pacific Forum, Central Bank
about the security of Samoan information given the interest of Solomon Islands Research Analyst Angeline Bata’anisia says
Fiji-based ATH has in its sector, although local media reported COVID-19 has interrupted the flow of economic data between
the Prime Minister as attempting to allay their fears by saying economic actors in the Solomon Islands (and likely elsewhere
most of the [Internet-enabled] conversations are in Samoan in the Pacific) as businesses have prioritised core business
and are people asking their overseas relatives for money. activities.
“The lack of quality data hinders efforts to track progress
Other emerging issues of policy actions and investments. For example, the launching
There are many other issues created by the rapidly trans- of the Solomon Islands Government economic Stimulus pack-
forming ICT landscape that Pacific leaders, legislators, busi- age of SBD 309 million (US$37.6 million) in response to the
nesses and citizens will need to consider. COVID-19, already begs the question of how effective these
Many of these relate to the financial sector. The region’s policy interventions will be in the absence of reliable eco-
central banks need to prepare for changes to financial super- nomic data? How do we know that the investments that are
vision and regulations that wider internet access will precipi- being committed to national priorities are bringing meaning-
tate. ful impact to 85% of the population that live in rural areas…
Lotte Schou-Zibell, Regional Director of the Asian Develop- Given these existing data gaps, the effectiveness of such
ment Bank in Australia recently suggested the need to focus policy interventions may be unknown or not fully realised,
on consumer needs and protection, financial and digital possibly leading to wasteful allocation of resources.”
literacy, and measuring and modelling impact. “The policies Bata’anisia suggests it’s time to modernise data collection
must likewise concentrate on technologies that have proven processes, and says there is scope for development partners
most disruptive in more advanced regions. These include to fund and collaborate on this effort.
artificial intelligence, distributed ledger technology, big data Given the complexity of the challenges, the emergence of
and analytics, digital financial services, and new ID technolo- digital trade issues and the threat of a growing digital divide,
gies based on biological recognition that establishes digital and the promise of technology and what can be done with it,
identity,” she writes. Pacific nations have their work cut out for them. But where
It’s a long and perhaps intimidating list, but Schou-Zibell commercial agreements and national interest allows, there is
says some work has already begun. For example, the Bank a role for regional cooperation on pricing, data, trade negoti-
of Papua New Guinea has launched a regulatory sandbox [a ating positions and best practice.
testing environment] that will allow small-scale, live test-
ing of innovations by private firms, including fintech start-up editor@islandsbusiness.com
companies, in a controlled environment under the regulator’s

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