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.)

Comments

compulsory scam

[Anonymous Coward]

Hello Sir,

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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. ....... :)

as though we do?

[cascadingstylesheet]

(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.

Crime costs Humanity Trillions

[mi]

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").