NAIROBI, Kenya, July 2 – Cyber attacks cost the Kenyan economy Sh29.5B, coupled with recent attacks to websites in the region which has placed the state of cyber-security in Kenya in the spotlight once again.
This is according to Microsoft Security Intelligence Report 2018, which looks at emerging cyber-crime trends over the past 12 months, revealing key findings not only into the global threat landscape but also locally.
Country Manager for Microsoft in Kenya Sebuh Haileleul said threats within the cyberspace will continue to become more advanced in not just the financial sector, but in many industries across the region.
“This will leave individuals and organizations with no choice but to turn to the developed capabilities that advanced technologies and solutions bring with it,” mentioned Sebuh.
The report also estimates that Kenya only houses 1,700 skilled cyber-security professionals, with 60 percent of companies facing a shortage alluding to a need for more education, exposure, and adoption.
It is said that within Kenya, the financial sector is the hardest hit by cyber attacks research has found that in late 2018, banks accounted for 18 percent of the attacks, while payment systems accounted for 10 percent of the attacks.
Besides trends identified from the Security Intelligence Report the use of AI was unpacked as one of the measures that will be used to combat cyber-security and fill crucial gaps
According to a report by the Communication Authority of Kenya covering the period October and December 2018, cyber-security threats in Kenya increased by 167% to 10.2 million from 3.8 million threats detected in the previous quarter.
“While there will always be new threats, new attacks, and new technologies, statistics like these should urge companies to act immediately to address security concerns, improving their security postures. It is critical for companies to strengthen their core security hygiene adopt modern platforms and comprehensive identity, security and management solutions,” added Haileleul.