Nigeria loses N7.5bn to cyber fraud yearly

Nigeria loses N7. 5bn to cyber fraud yearly Source link Nigeria has been pitched among countries that lose yearly to cyber fraud. The country is said to have lost well over N 7. 5billion in 2012 owing to cybercrime, while the global loss is estimated at... More

Nigeria loses N7. 5bn to cyber fraud yearly Source link Nigeria has been pitched among countries that lose yearly to cyber fraud. The country is said to have lost well over N 7. 5billion in 2012 owing to cybercrime, while the global loss is estimated at $1trillion (about N155 trillion) for 2012. According to the research by the International Telecommunications Union (ITU), the rising profile of cybercrime is causing great havoc globally. The report also maintained that out of the $1 trillion loss, only $390 billion was reported for obvious reasons. Following this disclosure, Nigeria’s First Lady, Mrs. Patience Jonathan, will lead about 700 leaders including Mr. Ehud Barak, a former Prime Minister of Israel, Dr. Salma Abbasi, founder/CEO eWorldWide, USA, a high level team both from the International Telecommunications Union (ITU) and the Central Bank of Nigeria (CBN) to the third World Cyber security Conference next week in Abuja. Among the 700 select leaders include top governm Less