16 results
- 10 Jun 2014
Cyber crime Costs Global Economy $445b a Year says Report
Cyber crime costs the global economy about $445 billion every year, with the damage to business from the theft of intellectual property exceeding the $160 billion loss to individuals from hacking,…
- 8 Dec 2020
Cyber crime Losses Exceed $1 trillion - McAfee
Cyber crime costs the global economy over $1 trillion, or just more than 1% of global GDP, a figure which is up more than 50% from a 2018 study that put global losses at close to $600 billion. This…
- 5 Jun 2017
IBM, Cisco Partner to Counter Cyber Crime
Cisco and International Business Machines (IBM) have announced a strategic partnership in a bid to strengthen efforts to curb cyber crime. The companies say they will work together on products,…
- 9 Jul 2018
Skill Gap Hobbles Fight Against Cyber Crime
Cyber security experts have decried the dearth of skilled human capital in the fight against cyber- attacks in Nigeria which has only 1800 professional in that space. The experts are therefore…
- 7 Nov 2017
Nigeria Loses N127Bn to Cyber Crime – Saraki
Dr Bukola Saraki, President of the Senate, has said that Nigeria has lost about N127 billion to cybercrime. He disclosed this at Nigeria’s first Legislative Stakeholders Conference on ICT and Cyber…
- 19 Feb 2018
Costs of Cyberattack Greater for Financial Services than Other Industries - Report
Cyberattacks cost the financial services sector more than any other industry, and the rate of breaches in the sector has tripled over the past five years, according to "Cost of Cyber Crime Study," a…
- 27 May 2015
Cost of Data Breaches Increasing to $3.8M – Report
The cost of data breaches is rising for companies around the world as sophisticated thieves target valuable financial and medical records, according to a study released yesterday. The total average…
- 4 May 2024
INTERPOL Appoints Uche, Nigerian CP as Chairman, African Heads of Cybercrime Units
International Police Organization (INTERPOL), has appointed Ifeanyi Henry Uche, Nigerian Police Commissioner, as the chairman of the African heads of cybercrime units comprising heads of 54…
- 8 Jul 2013
Panic as Bankers, Fraudsters Empty Customers' Accounts
Disturbing revelations at the weekend suggested that a worrying fraud scheme-the theft customers’ ID data by employees of financial institutions is on the rise. Investigations showed that insiders in…
- 19 May 2021
Ignorant Senate Asks FG to Delay 5G Network in Nigeria
The Senate on Wednesday urged the federal government to halt the deployment of 5th generation (5G) network in Nigeria for now. This is coming as countries around the world including Africa are racing…
- 28 Apr 2020
Regulators Urged to Allow Cloud Tech in Financial Services
African regulators have to support and approve the use of cloud technology within the financial sector, says a new industry report. The study, Cloud Banking in Africa: The Regulatory Opportunity, by…
- 12 Jun 2014
Broadband Council Pushes for Smart States, 50% 3G-Coverage
Broadband Council has made case for the increased 3G coverage to 50 percent of the Nigerian population by 2015. This was one of the outcomes of the council’s 4th meeting in Lagos recently. The…
- 22 Jul 2026
NITDA Pushes Stronger Cyber Resilience Across Government Agencies
National Information Technology Development Agency (NITDA) has urged Ministries, Departments and Agencies (MDAs) to adopt a coordinated and proactive approach to securing Nigeria's government digital…
- 5 Dec 2019
Nigeria Lost $800m to Cybercrimes In 2018 – Report
The cost of cybercrimes in the country peaked at $800 million, this is according to latest Nigeria Cybersecurity Report (2018). The report shows that even with 17% increase in organisational spend in…
- 11 Apr 2014
EFCC Arrests Suspected Counterfeit Software Resell Haven
The Economic and Financial Crimes Commission (EFCC), has arrested another suspect, Arewa Systems Limited, in Ikeja area of Lagos who also specializes in the production of High Quality Counterfeit…
- 10 Feb 2014
Microsoft Extols EFCC's Counterfeit Software Raids
Microsoft Nigeria has extolled the renewed fight against counterfeit software, saying that the recent raids by the Economic and Financial Crimes Commission (EFCC) would benefit the economy. EFCC,…