On February 26, 2025, Jonathan Reid was sworn in as Barbados’ Minister of Innovation, Science, and Technology, becoming the country’s fourth technology minister under the current administration. His appointment signals a strategic shift in the government’s IT priorities, with two critical areas taking centre stage: accelerating digital transformation and strengthening cybersecurity defences.
In his inaugural ministerial address, Reid underscored cybersecurity as a cornerstone of his agenda—a declaration that CyberPulse welcomes with optimism. This focus could not be timelier, as Barbados, like many nations, struggles against the relentless rise of cybercrime. With digital threats growing in sophistication, a robust cybersecurity framework is essential to safeguarding national resilience.
A 2023 Commonwealth research paper, Cybercrime Links to Organised Crime by Brian Oyadeyi, highlights how cybercrime has evolved into a key enabler of organised crime. Criminal networks now leverage digital tools to expand their reach with greater anonymity and efficiency, engaging in fraud, money laundering, and even human trafficking. Cybercriminals generate massive revenue through ransomware attacks, online scams, and stolen data sales, often funding traditional crimes such as drug trafficking and arms smuggling.
Beyond financial losses, cybercrime threatens national security by targeting critical infrastructure, government systems, and financial institutions. Attacks on energy grids, healthcare networks, and banking systems can destabilise economies and erode public trust. Additionally, state-sponsored cybercrime amplifies geopolitical risks, making cybersecurity not just a matter of data protection but a fundamental pillar of national defence.
The Growing Cost of Cybercrime in the Caribbean
Cybercrime is inflicting substantial financial losses across the Caribbean, with Jamaica and Trinidad & Tobago among the hardest hit.
Jamaica has suffered significant losses, with reports estimating over US$77 million lost in 2016 alone. More recently, Internet banking fraud cost Jamaica J$81.23 million
(US$540 000) in 2021, a 17 per cent increase from 2020. The Jamaican Constabulary Force recorded 601 cyber-fraud cases from 2021 to early 2024, totalling J$306 million (US$2 million) in stolen funds. Authorities have since intensified enforcement and public awareness efforts.
In Trinidad & Tobago, cybercrime has cost businesses millions. Between 2020 and 2022, romance scams alone led to TT$6.7 million (US$1 million) in losses. Additionally, 144 million cyberattack attempts were recorded across the Caribbean in early 2022. One of the most disruptive incidents was a ransomware attack on Massy Stores, forcing all 23 supermarkets to shut down, resulting in major financial and operational setbacks.
These cases underscore the urgent need for stronger cybersecurity measures to protect businesses and financial systems from escalating threats.
Predominant Cybercrime Threats in the Caribbean
Cybercrime continues to inflict widespread financial and operational damage, with key threats affecting businesses, governments, and individuals.
Ransomware attacks remain the most financially damaging, crippling major operations like Massy Stores in Trinidad and even triggering a national emergency in Costa Rica. Attacks on banks, telecoms, and retailers result in millions in ransom payments, IT recovery costs, and lost revenue annually.
Financial fraud and phishing schemes target banks and individuals through business email compromise, card fraud, and fake online transactions. In Jamaica, online banking scams have stolen millions, while Barbados has issued warnings about tax refund phishing attacks targeting government agencies.
Social engineering scams, including romance scams, fake lotteries, and cryptocurrency fraud— a personal pet peeve as they exploit the economic vulnerabilities of Bajans—continue to deceive victims into fraudulent investments. In Trinidad alone, victims lost TT$4–6 million over two years.
Data breaches and insider threats are also rising. Security lapses, such as Jamaica’s JamCOVID breach and Trinidad’s telecom data leak, have exposed thousands of sensitive records, costing businesses up to US$2 million per incident. Insider fraud remains a growing risk.
As cybercrime escalates, stronger cybersecurity policies, increased public awareness, and proactive fraud prevention strategies are critical to securing the Caribbean’s digital landscape.
The Path Forward: A Cybersecurity Act for Barbados
With cybersecurity now a top priority for this Cabinet, the minister has a unique opportunity to establish a Cybersecurity Act—a comprehensive legislative framework that could define his legacy while significantly strengthening Barbados’ digital resilience.
A Cybersecurity Act would move beyond reactive measures, introducing a proactive strategy to counter evolving threats while fostering innovation. Fortunately, the financial services sector already operates under cybersecurity regulations through Central Bank and Financial Services Commission (FSC) guidelines.
Building on these regulations, a Cybersecurity Act should establish a national framework and Cybersecurity Authority to oversee digital security across critical sectors, ensuring a coordinated response to cyber threats. It would administer minimum security standards, requiring organisations to implement risk assessments, security audits, and cyber hygiene practices such as multi-factor authentication and encryption. Additionally, a National Cyber Incident Reporting System would mandate breach notifications, ensuring swift response and accountability.
Since the Barbados Data Protection Act (DPA) 2019, already governs personal data, the Cybersecurity Act should focus on securing critical infrastructure, requiring risk assessments and resilience plans for key industries such as telecommunications, banking, and utilities. To enhance national cyber resilience, the Act should also encourage public-private partnerships for threat intelligence sharing and collaboration, while investing in cybersecurity education and workforce development to build local expertise and equip businesses against emerging digital threats.
Yes, such measures would require greater investment, but they would provide a stronger, more adaptive defense against cyber risks—reinforcing the principle that an ounce of prevention is worth a pound of cure. Expanding these best practices beyond financial institutions would establish a nationwide cybersecurity framework, strengthening the resilience of all organisations in Barbados.
Steven Williams is the executive director of Sunisle Technology Solutions and the principal consultant at Data Privacy and Management Advisory Services. He is a former IT advisor to the Government’s Law Review Commission, focusing on the draft Cybercrime bill. He holds an MBA from the University of Durham and is certified as a chief information security officer by the EC Council and as a data protection officer by the Professional Evaluation and Certification Board (PECB). Steven can be reached at Mobile: 246-233-0090; Email: steven@dataprivacy.bb
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