Cyber attacks cost Kenya Sh20bn in 2017


Cyber attacks cost Kenya Sh20bn in 2017

Kenya lost Sh20.1 billion last year to cyber crime and continues to be prone to cyber attacks as organizations and the government grapple to put in place proper security measures.

According to the Africa Cyber Security Report by Serianu, commercial banks and government agencies were hardest hit by cyber-crime across the continent.

Across Africa, a total of Sh350 billion was lost.

Local banks, the report shows, lost Sh7 billion, the government Sh5 billion while the telecommunication sector lost Sh3 billion in 2017.

The report also found that Sh6.3 billion was lost due to insider dealings within the organizations sampled, supporting findings from the PwC global economic crime and fraud survey.

Speaking at the report launch, Cabinet Secretary for Defense Rachel Omamo called for the creation of awareness to tame the growing incidences.

“It is our hopes that in the coming months with collaborations of partners such as Serianu we can begin a very public campaign about cyber hygiene to enable our young people in particular, to know how to protect themselves from cyber attacks,” Omamo said.

Serianu chief executive officer William Makatiani said that the main way to tackle the issue was through educating persons on cyber-crime.

“The key is education. If you don’t educate your users and employers and customers on what to expect and what not to expect, it becomes difficult for them to protect themselves and that is very critical,” Makatiani said.

The cyber-crime bill is expected to transit to the committee stage of the National Assembly.

Ms Omamo added that legislation would be key in making people aware of the dos and don’ts of internet use.

“With the new legislation the cyber crimes act will be able to put in place the infrastructure for the protection for our cyber environment provide the mechanisms for detection and for punishment of cyber rogues,” she said.

Fake News, ransom ware, cyber bullying, pyramid schemes and phishing were also identified as prevalent online security issues in Kenya

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Story By Anita Nkatha
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