Combating Cybercrime On Critical Infrastructure In East Africa

The global cost of cybercrime is expected to reach an estimated USD 6 trillion by the end of 2022 and USD 10.5 trillion by 2025. These estimates represent a staggering leap in the frequency and scope of cybercrime which reached a record high of approximately USD 1 trillion in 2020, according to The Hidden Costs of Cybercrime report by McAfee. Out of the 2020 estimation, approximately USD 945 billion was lost due to cyber-attacks, and approximately USD 145 billion was spent on cyber security efforts. The increase in reported cybercrime has been attributed to various factors, including the increase in online activity brought about by the COVID-19 pandemic as well as better awareness of cyber-attacks, which has resulted in increased reporting of incidents by governments and organisations.