Cyber-attacks rise in Kenya in the wake of COVID-19
Many businesses in Kenya have resorted to digitalizing their work environments to ensure business continuity as a result of the COVID-19 pandemic. The technological shift nonetheless has come with it several drawbacks. The economy is digitalising at a rapid rate, which has led to the emergence of a number of online users who are relatively vulnerable to the profusion of online threats. Recent statistics from Communications Authority of Kenya (CAK) shows that the businesses in Kenya is suffering from a boom in cyber-attacks. The economy has dealt with approximately KES 30 billion in losses from exploitation of vulnerable systems via cyber-attacks. CAK data shows that 34.64 million cyber threats were detected in the three months of 2020, a rise of 231.5 per cent from 11.2 million threats in a similar period in 2019.
As an increasing portion of Kenya’s finance and financial services sector transitions to the online domain, consulting firms and bankers alike have expressed their concern that large repositories of personal and financial data are now under risk due to vulnerable cybersecurity. As the country’s economy grows to become a regional hub of growth and foreign investment, an increasing portion of the Kenya’s population has now gained familiarity with the digital sphere.
Nevertheless, new online users tend to be vulnerable to predators in the cyber arena, which is particularly dangerous when a growing portion of users begins to conduct financial activity online. Banking and financial services is one sector that has rapidly taken to digital applications across Kenya in recent times. Hackers follows broadband and Internet penetration. As we become more online, these risks and threats start manifesting themselves. One of the clearest statistics is that this market isn’t slowing down from a cybercrime perspective.
As a result, the demand for services such as cyber incidence response, digital forensics, data recovery, System audits, Vulnerability assessment and penetration testing. Access to these services offered by Maestro and Irwin at an affordable price enable businesses to secure their emails, websites, manage vulnerabilities, test and audit IT systems and access real-time monitoring, among others.
Technology risks that have been identified such as malware, online abuse and web application assaults incidents have prompted action from government authorities in the country. The Kenya Communications Authority, for instance, announced last year that it would introduce extra regulatory measures on the exchange of data on online platforms such as Skype, Facebook and WhatsApp.
Bankers associations as well as the Central Bank of Kenya have urged customers to maintain a degree of vigilance when conducting financial transactions online, particularly in terms of engaging in such activity on public networks. Meanwhile, Maestro and Irwin among other consulting firms in the country have been establishing advanced cybersecurity practices to help meet the growing demand for support in this domain.