Monday, October 28, 2024 - The Communications Authority of Kenya (CA) has revealed the country lost Sh 10.7 billion in the year 2023 due to cybercrime.
Data by the National Kenya
Computer Incident Response Team Coordination Centre (KE-CIRT/CC), the body
mandated to detect, protect, and respond to cyber threats, show that attackers
are increasingly targeting national assets and financial institutions.
The Authority’s Director
General, David Mugonyi, said that the most affected industries by volume of
incidents and losses are financial services, government, fintech, hospitality,
education, telecommunication, and manufacturing.
However, despite the initiatives
to stop threats from external sources, insider threats, and online fraud are
the leading threats.
For instance, CA says that
between April and June 2024, the National KE-CIRT detected 1.1 billion cyber
threats targeted at Kenyan assets.
“The cost of cybercrime in
Africa is staggering; last year Nigeria suffered losses amounting to $1.8
billion (Sh232.2 billion), Kenya $83 million (Sh10.71 billion), Uganda $67
million (Sh8.6 billion), Botswana $39 billion (Sh5 billion), and Lesotho $2.3
million (Sh296.7 million). The average data breach in Kenya in 2023 was $4.35
million (Sh561 million),” said Mugonyi.
The DG added that localized
solutions are essential for handling cyber threats unique to Kenya and the
region, such as cyberespionage, cyberterrorism, and other specialized threats
that global frameworks may not adequately address.
The Kenyan DAILY POST
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