Friday, October 30, 2015

Cyber-Crime From Nigeria Hits US$9.3 Billion Yearly


•The recovered fake dollar notes and other items

Cyber-crime originating from Nigeria is worth US$9.3 billion yearly, President of Cyber Security Association of Nigeria (CSEAN), Mr. Remi Afon, has said. He spoke in a statement in Abuja on the planned launch of CSEAN in Lagos and award of certificates to new members.

The Nation report continues:
Afon said although there were no available statistics on volume of malware being generated from the country, “based on research by Palo Alto Networks in 2014 and fire eye 2015, activities of cyber criminals in Nigeria is now shifting from phishing emails to actual exploit through malware”.

“It is estimated by Dutch investigation firm, Ultrascan, that Nigeria-based cybercrime is costing around US$9.3 billion (£5.5b) globally each year,” he added.

He lauded efforts of the Federal Government to combat the menace.

President Goodluck Jonathan administration signed the Cybercrime Bill into law on October 24, 2014.

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