HANOI: A landmark UN cybercrime treaty, aimed at tackling offenses that cost the global economy trillions of dollars annually, is set to be signed in Vietnam’s capital Hanoi by around 60 countries over the weekend. The convention, which will take effect after it is ratified by 40 nations, is expected to streamline international cooperation against cybercrime, but has been criticized by activists and tech companies over concerns of possible human rights abuses.
“Cyberspace has become fertile ground for criminals...every day, sophisticated scams defraud families, steal livelihoods, and drain billions of dollars from our economies,” UN Secretary-General Antonio Guterres said at the opening ceremony.
“The UN Cybercrime Convention is a powerful, legally binding instrument to strengthen our collective defenses against cybercrime.”
The convention targets a broad spectrum of offenses from phishing and ransomware to online trafficking and hate speech, the UN has said, citing estimates that cybercrime costs the global economy trillions of dollars each year.
Vietnam President Luong Cuong said the signing of the convention “not only marks the birth of a global legal instrument, but also affirms the enduring vitality of multilateralism, where countries overcome differences and are willing to shoulder responsibilities together for the common interests of peace, security, stability and development.”
