COVID-19: Remote working leaves firms exposed to cybercrime

The increased use of online spaces for work, transactions, and learning during the COVID-19 pandemic has led to a surge in cybercrime cases with phishing ranked as the top global threat.

Interpol reports that phishing scam and fraud was up 59 percent with Malware following at 36 percent.

Malicious domains were at 22 percent while fake news especially on COVID-19 related information was at 14 percent.

The 2020 Security Culture Report by KnowBe4 and CLTRe collected data from more than 120,000 employees across 24 countries to find out exactly how deeply security was embedded into the company culture.

Africa on matters security culture is on par with North America, Australia, and New Zealand at 73 and leading ahead of Europe at 69.

The report further found that cybercrime syndicates are targeting the African continent due to the high degree of digitization especially on mobile, lack of legal frameworks, skills gap, and high level of software piracy in the continent at 57 percent.

However, Kenya lags behind in terms of human resource to deal with cybercrime. The 2020 Security Culture Report estimates that Kenya currently has 1,700 Skilled Cyber Security Professionals in Kenya with about 100 joining annually.

The report projects that Kenya will need at least 50,000 cybersecurity professionals in the next five years to deal with the increasing cases of cyber-attacks that mainly target financial institutions.

The COVID-19 pandemic changed the way the world conducts business. Companies moved to remote working, governments and financial institutions encouraged cashless transactions to contain the spread of the virus.

  

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