You are here: Home » News-IANS » International
Business Standard

Cyber crimes soaring in Africa amid weak defenses: Report

IANS  |  Nairobi 

Sub-Saharan African region could be the next epicentre of the space-tracing government installations, private businesses and ordinary citizens thanks to weak deterrent measures, says a report launched in on Tuesday.

The 2017 cyber security report compiled by a Nairobi-based consulting firm, Serianu, disclosed that the continent lost an estimated $3.5 billion last year as a result of increase in sophisticated cyber crimes, reports

Experts said the report, which covered 700 public and private institutions in ten African countries, confirmed that the soaring cyber attacks in the continent posed new threats to its security, economic growth and stability.

"The threat of cyber attacks has gained foothold in yet Governments and private sectors are yet to invest in adequate defenses to curb their spread," William Makatiani, of Serianu, was quoted as saying.

"Securing data should accordingly be a priority for public and private institutions in the light of rapidly evolving threats to cyberspace," he added.

and a consortium of telecommunication giants, academic institutions and think tanks conducted the survey which revealed that cyber attacks were more pronounced in banks, government agencies and mid-sized enterprises across

The survey noted that cyber crimes had also escalated in African cities where are higher.

Makatiani regretted that digital infrastructure owned by households has not been spared the threat of mustard attacks therefore the need to invest in strong defenses.

"Securing homes and is now a paramount issue. Households must now introduce as part of their annual budgets, a cyber security component," said Makatiani.

African small- and medium-sized enterprises (SMEs) that provide bulk of employment to the youth and are substantially relying on the Internet to include transactions are grappling with cyber attacks of huge magnitude.

Makatiani noted that these these SMEs lack the financial and technical capacity to deal with cyber threats.

--IANS

sku/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 11 2018. 02:14 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU