East Africa meets to deliberate growing cyber crime

Browsing on a laptop. Experts are scheduled to meet in Arusha Tanzania to exchange thoughts on how to curd region's growing cyber crime and fraud. Photo | FILE | AFRICA REVIEW 

Arusha is set to host the second Africa forensic conference to be held between May 24 and 26 this year to deliberate on ways to curb growing cyber crime and fraud.

Organisers of the forum say that the meeting will address itself to cyber-related crimes by providing forensic accounting skills to corporate officials, anti-corruption watchdogs, police auditors, accountants and other government officials.

Briefing reporters on Saturday, International Coordinator and Representative for Africa of the Forensic Certified Public Accountants Sosthenes Bichanga said the forum is a response to increasing on-line crimes in the continent.

Growth

He said that in recent years, Africa experienced unprecedented growth of science and technology; as a result, unscrupulous people apply new technology to steal from public or private institutions.

He explained that cases of fraud and cyber-crime had been costing East African countries billions of dollars, but the rackets remain shrouded in secrecy because the affected companies prefer to suffer in silence, 'safeguarding' their reputations.

“Our recent research estimates that over 6 per cent of the total annual income and revenue collection by an organisation which does not take the fight against fraud, cyber-crime or corruption is lost. Some of these institutions make billions of money,” he said, adding that the combined loss suffered by the East African member states may add up to 30 per cent of their total losses which spells economic disaster for the region.

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