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Cyber-crime to cost Ghana $100m in 2018

An information security expert has told Citi Business News that Ghanaian businesses stand to lose 100 million dollars from cyber-crime in 2018 if pragmatic measures are not put in place to minimize it.

According to a Managing Partner at cybersecurity firm, Delta 3 International, Del Aden, the incident of cybercrime in Ghana will continue to rise unless businesses put effective countermeasures in place.

He added that with increased digitization, the risks related to cybersecurity naturally increases. “Unfortunately, organizations in Ghana are not immune to these risks, as such business leaders must take active steps to improve their organization’s readiness for these kinds of threats,” he said.

A report released by Kenyan-based IT firm, Serianu Limited, revealed that Ghana’s economy lost a total of US$50 million to cyber-crime in 2016.

Speaking to Citi Business News on the sidelines of the 4th edition of the Ghana Cyber Security Workshop, Mr. Aden reiterated that government must get involved to direct the fight against cybercrime.

“Businesses in Ghana stand to lose nearly 100 million dollars to cybercrime. That’s why everyone needs to sit up and implement effective measures of counter cyber crime,” he warned. He observed that public & financial institutions in the country are at a high risk of being attacked.

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