Cyber crime costs financial sector billions
19 November 2012, 17:24
Nairobi - The financial sector in the East African region is losing over KES 170 billion every year through cyber crime, according to a UK-based information and e-commerce security provider.
Speaking to Capital News, Cyber Security Africa's manager for Africa Sammy Kioko said that most of the crimes are perpetuated by some employees in the institutions who hack into the systems and transfer money to unauthorised accounts.
Kioko went on to add that the issue of cyber security threats in East Africa is actually increasing and this shows that huge amounts of money are being channelled out by hackers.
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