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Cybercrime is Costing Africa's Businesses Billions (qz.com)
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.)
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.)
Did somebody read the original study? How does regulation increase vulnerability in Africa? Somehow I suspect that they don't generally regulate maximum encryption strengths or password lengths.
Too Many Nigerean Princes Who Are Taking All The Money Out And With Your Help Already.
Hello Sir,
permit me to inform you of my desire of going into business relationship with you. I have the believe you are a reputable and responsible and trustworthy person I can do business with from the little information so far I gathered about you during my search for a partner and by matter of trust I must not hesitate to confide in you for this simple and sincere business.
I am Jame Ponzi 19 years of age the only daughter of late Mr Ponzi whom was injustly pursued by the corrupted US government. I ran to Canda from were I am contacting you. Before the death of my father he told me that he has a sum of US$9,000,000(Nine million united states dollars) kept in a private security company here in the US and my name as the next of kin,
Dear, in the capacity of the next of kin and with all the documents in my hand now, I am contacting you with due sence of humanity that you will give it a sympathetic and mutual consideration.
I am honourably seeking your assistance in the following ways.
(1)To serve as the guardian of this fund and to come assist me visit the security company here to retrive the consignment. ....... :)
"The Wig reasoned that all that
obsolete silicon had to be going somewhere. Where it was
going, he learned, was into any number of very poor places
struggling along with nascent industrial bases. Nations so
benighted that the concept of nation was still taken seriously.
The Wig punched himself through a couple of African back-
waters and felt like a shark cruising a swimming pool thick
with caviar. Not that any one of those tasty tiny eggs arnounted
to much, but you could just open wide and scoop, and it was
easy and filling and it added up. The Wig worked the Afri-
cans for a week, incidentally bringing about the collapse of at
least three governments and causing untold human suffering.
At the end of his week, fat with the crearn of several million
laughably tiny bank accounts, he retired. As he was going
out, the locusts were coming in; ofher people had gotten the
African idea."
So let's start with YOU, shall we?
Asshole.
they have all the knowledge they need, right there, in nigeria.
On a long enough timeline, the survival rate for everyone drops to zero.
Poverty kills more people than guns. We need to arm the victims of economic of terrorism. That's the only way justice will be served in the post-inside-job world. ae911truth dot org
Who didn't see THAT coming?
When you have billions of poor, desperate people, crime (including cybercrime) and environmental destruction are the result.
Sorry, but you have it exactly backwards.
Poverty does not cause crime.
Crime causes poverty.
When you spend all of your time committing crime, instead of getting an education and working, then you live in poverty. When the only thing you care about is killing and stealing, then you live in poverty. When you don't care about anything unless you can eat it, drink it, smoke it or fuck it, then you live in poverty.
Being an african with an average IQ of 70 doesn't help.
I be an African wif an IQ of 70 you insensitive clod!
How many companies write off doing business with Africa due to rampant and persistent fraud from Nigeria alone? Whether your buying or selling to Africa, the risk of theft and fraud is more than a lot of businesses and people want to deal with. How much business is lost in Africa due to these concerns? Africa needs to deal with corruption if it ever wants to truly prosper.
Africa you say? They should contact that prince in Nigeria. I'm pretty sure he must be able to help, judging from the promising emails I get from him.
Ahhh...the great dumpster continuum. Many a free computer will be found there. -- sowth (748135)
(In addition, at least 90% of parents didn't understand what measures to take to protect their children from cyber-bullying.)
Like we do??
Kids everywhere have pocket internet connected computers, social media accounts, etc. and the vast majority of first world parents don't care (or don't have a clue that this kind of exposure is optional).
We don't let our kids have them and we are considered weirdos by our society.
I'd say the 90% figure applies here equally well.
the Nigerian Princes and Bankers. I mean gee willikers Wally. They always emailing me begging to give me money if I help them out.
Didn't read the linked paper but my understanding is that South Africa has more computers than the rest of the continent. Would have expected them to be mentioned, good or bad.
There, fixed the headline for ya'll: "Crime is Costing Humanity Trillions". The amount of effort and materials we have to put into locks, fences, safes, etc. is mind-boggling. And, in addition to those expenses, the law-enforcement efforts — in the US alone — are estimated as $280 billion per year.
Remember this, when someone tries to romanticize criminals (such as with "Godfather").
In Soviet Washington the swamp drains you.
Poverty does not cause crime. Crime causes poverty.
Both. It's a feedback cycle.
When you spend all of your time committing crime, instead of getting an education and working, then you live in poverty. When the only thing you care about is killing and stealing, then you live in poverty.
And, in reverse, when you have no possibility of getting an education and no jobs, then you live in poverty, and are likely to commit crimes as a way to improve your situation, or even as a way to survive.
When you have billions of poor, desperate people, crime (including cybercrime) and environmental destruction are the result.
Let me remind you that the population density of Africa (87.1 people per square mile) is half of the population density of Europe (187.8 per square mile).
Or, for the West to stop feeding with with hundreds of billions of dollars of food aid.
May be a good idea, in fact, because it would be more effective to improve Africa's agricultural productivity than to do direct food aid. However, the US prefers food aid over actually solving the problem because the farmers' lobby in America loves food aid, because it means markets for them.
So let's start with YOU, shall we? Asshole.
Correlation, causation, etc, etc.
I say gold teeth with embedded diamonds cause crime.
Did somebody read the original study?
My question about the original study is whether they looked at the cost-benefit analysis of cybercrime in Africa.
They make tons of money from the 419 scam (aka "Nigerian scam"). I wonder if you add up the money they make from cybercrime, and then subtract the money they lose, whether on the whole it's a net importer of money.
How does regulation increase vulnerability in Africa? Somehow I suspect that they don't generally regulate maximum encryption strengths or password lengths.
They may not regulate because cutting down on cybercrime would not be in their best interest.
Question: What's funnier... Nigeria with a cybercrime problem or...
Forget it. Nothing is funnier than Nigeria with a cybercrime problem.
It requires you to avail yourself of every opportunity, rather than sitting around waiting for someone to give it to you.
And if there aren't any opportunities, well, guess you're out of luck.
You could emigrate to the US. Oh, wait, that's not an opportunity either any more.
Not really surprising. I just got back from Zimbabwe and was shocked at how much of their economy has been converted over to something called "Eco-Cash". It's basically PayPal over text messages. Yeah, I would say it's insecure.
Africans choosing to be criminals(cybercrime) and preying upon African businesses are destroying the legitimate African business. News flash: Africa sucks. War, child soldiers, genocide of other races.
Why worry about cyber bullying when you are being eaten by a lion and a dingo has stolen your baby ?
There, title corrected for accuracy ..
If your education system sucks so badly in your country -- that looks like a business opportunity for someone (to me).
So, your "business opportunity" is to provide educational opportunities for poor people, where "poor people" is defined as "people who can't afford to pay you". Nice idea. I wish you luck with that.