Forum - Cybercrime is Costing Africa's Businesses Billions
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Post 147248       June 14 '18 at 02:40 AM
By msmash from Slashdot's closer-look department:
An anonymous reader shares a report: Sophisticated malware, software security breaches, mobile scams -- the list of cybercrime threats is growing. Yet African nations continue to fall short of protecting themselves and must constantly grapple with the impact. A new study from IT services firm Serianu shows the pervasive nature of cybercrime across the continent, affecting businesses, individuals, families, financial institutions, and government agencies. The study shows how weak security architectures, the scarcity of skilled personnel and a lack of awareness and strict regulations have increased vulnerability. Cybercrime cost the continent an estimated $3.5 billion in 2017. The report found more than 90% of African businesses were operating below the cybersecurity "poverty line" -- meaning they couldn't adequately protect themselves against losses. At least 96% of online-related security incidents went unreported and 60% of organizations didn't keep up to date with cybersecurity trends and program updates. (In addition, at least 90% of parents didn't understand what measures to take to protect their children from cyber-bullying.)