'Nigeria is responsible for $9.3 billion of the funds lost to cybercrime worldwide' - CSEAN president

folarin okunola

November 4, 2015 2:04 PM

This was made known in a statement released in Abuja at the launch of CSEAN Lagos and the award of certificates to new members of the association.

Wireless hacker

Mr. Remi Afon, president, Cyber Security Association of Nigeria (CSEAN) has stated that about $9.3 billion is lost to cybercrime emanating from Nigeria alone across the globe.

This was made known in a statement released in Abuja at the launch of CSEAN Lagos and the award of certificates to new members of the association.

Afon stated that the activities of cybercriminals are now beyond just phishing emails to “actual exploit through malware.”

According to the CSEAN president, there are currently no available statistics on volume of malware being generated from within the country, but “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 $9.3 billion (£5.5bn) globally each year.”

READ: Teenage boy convicted for over 50, 000 computer hacks in Finland

Afon emphasized the need to better equip the law enforcement agencies in the country with the necessary skills and tools needed in the fight against cybercrime.

Back in 2011, the Federal Government introduced a bill aimed at checking the activities of internet scammers, who had ruined the country’s image, both locally on the African continent an internationally.

folarin okunola