TechInAfrica – Internet Solutions (IS) has invested Sh20 M to set up a cybersecurity center in Nairobi. The Cyber Threat Intelligence (CTI) Center helps companies to develop a risk-based strategy that prevents cyberattacks in their IT environment.
According to Dr. Bright Mawudor, the Head of Cyber Security Services of IS said that monitoring, analyzing, and responding capabilities are a costly and complicated exercise that businesses must undertake to remain safe, and the company now has a local threat intelligence center that will assist the business to be cyber resilient.
Companies with automated services and operations are the most vulnerable to cyberattack, and TransUnion Kenya Chief Executive Billy Owino said that online fraudsters are a growing risk to Kenyan businesses as they operate from remote locations within and outside Kenya. He noted that businesses keen on tapping e-commerce billions should have their systems embedded with identity verification and fraud detector systems.
Kenya is a hotspot for fraud activities after South Africa due to its significant e-commerce activities, a study by PWC, an audit and financial advisory firm stated. The adoption of digital transactions exposed users to the risk of financial data and passwords theft. In the previous quarter, cybersecurity threats increased by 167 percent to 10.2 M from 3.8 M, while 12,197 cyber threat advisories were given to affected organizations, noting a 91 percent increase, as revealed by a quarterly report from April’s Communications Authority. Other affected parties are banks, saccos, and state entities that have reported loss of funds and data theft in the past, which threatens the advantage of using the mobile phone to run business transactions.
Due to such risks, the urgency to create accountable security solutions becomes immediate. This can be seen from the initiative by IS, as well as what has been done by USIU Africa University by securing a partnership with CSI to hold a cybersecurity training school.