Home Technology Kenya Lost Ksh 10.71 Billion to Cybercrime in 2023, CAK reveals

Kenya Lost Ksh 10.71 Billion to Cybercrime in 2023, CAK reveals

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In 2023, Kenya lost a substantial Sh10.71 billion ($83 million) to cybercrime, making it the second-highest victim of cyberattacks in Africa.

This alarming figure was revealed by the Communications Authority of Kenya (CAK).

The National Kenya Computer Incident Response Team Coordination Centre (KE-CIRT/CC), a multi-agency collaboration framework that is responsible for the national coordination of cyber security as well as Kenya’s national point of contact on cyber security matters, reported that cyberattacks targeting national assets and financial institutions are on the rise.

According to the report, financial services, government, fintech, hospitality, education, telecommunication, and manufacturing sectors were the most affected, both in terms of incident volume and financial loss.

The report further noted that despite efforts to combat external threats, insider threats and online fraud remain significant challenges.

It is noted that between April and June 2024, the National KE-CIRT detected a staggering 1.1 billion cyber threats aimed at Kenyan assets.

“Over the period April – June 2024, the National KECIRT/CC detected over 1.1 billion cyber threat events. Majority of these attacks exploited system vulnerabilities. This is attributed to the continued proliferation of Internet of Things (IoT) devices in the country which are inherently insecure, insecure system configurations and deprecated software, as well as the dynamism occasioned by new and emerging technologies such as Artificial Intelligence (AI),” said David Mugonyi, Director General of the Communications Authority of Kenya.

Mr Mugonyi noted that the cost of cybercrime in Africa is staggering, stating, “Last year, Nigeria suffered losses amounting to Sh232.2 billion ($1.8 billion), Kenya Sh10.71 billion ($83 million), Uganda Sh8.6 billion ($67 million), Botswana Sh5 billion ($39 million), and Lesotho Sh296.7 million ($2.3 million). The average data breach in Kenya in 2023 was Sh561 million ($4.35 million).”

The Director General noted that to address the growing complexity of cyber threats, the Kenyan government is undertaking significant reforms which includes consolidating all cyber threat control units within ministries and semi-autonomous agencies into a single national unit.

Director of Cybersecurity at the Ministry of ICT and Digital Economy, Yunis Omar noted that the current fragmented approach, with multiple agencies handling cybersecurity independently, hinders effective response to emerging threats.

“The government aims to enhance national visibility and strengthen Kenya’s cybersecurity posture through a cohesive framework. This will involve amending the National ICT Policy and updating the National Cybersecurity Strategy to better address evolving digital security challenges,” Mr Omar noted.

The CAK noted that it continues to collaborate with local and international partners to strengthen the cybersecurity legislative framework and facilitate the resolution of cybercrime incidents.

The authority said it recognizes the need for tailored solutions to address unique cyber threats, such as cyberespionage, cyberterrorism, and state-sponsored cyberattacks, that may not be adequately covered by global frameworks.

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