Joint Statement by the Financial Services Commission (The Commission), Jamaica Cyber Incident Response Team (JaCIRT), and the Major Organised Crime & Anti-Corruption Agency (MOCA) on the Cyber Attack on the FSC.

Major Keron Burrell

Following the Press Release from the Financial Services Commission (The Commission) on September 6, 2023, which advised that the Commission experienced a cyber event, the following update is being provided.

It can now be confirmed that the cyber event involved a ransomware attack by cyber criminals, who obtained unauthorised access to the FSC’s networks.

Col. Desmond Edwards

As soon as the breach was detected, the FSC initiated its response plan, collaborating with the Jamaica Cyber Incident Response Team (JaCIRT), the Major Organised Crime & Anti-Corruption Agency (MOCA), the Financial Investigations Division (FID) and other Jamaican and international cybersecurity experts to assess and contain the threat. The breach was contained within the FSC’s network systems, and over the past week the Commission has continued to work diligently with law enforcement partners and cybersecurity experts. The collaboration has been aimed at investigating the circumstances surrounding the attack, ascertaining the extent of the breach, implementing data recovery, and strengthening the Commission’s IT security infrastructure.

The Commission, JaCIRT, and MOCA are aware that data relating to the day-to-day work of the Commission as a financial sector regulator has been published on the Internet. This is the subject of intensive investigation.

While the investigations are ongoing, the Commission has strengthened its cybersecurity systems and bolstered its cyber resilience.  The Commission has been working continuously with its partners to minimise delays, address inconveniences, and enhance communication. Effective immediately, licensees, registrants, and other stakeholders can reach out to the Commission with queries, comments, and concerns at the designated email address: info@fscjamaica.org.

The Commission, working with its partners, is committed to staying ahead of these malicious actors to maintain the security of its systems and the continuation of its essential regulatory operations.

Further updates will be provided as the investigations progress and as new information becomes available.

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