Global Cost of Cyber-crime Predicted to Hit $6trn by 2021
Between the year 2000 and 2013, commercial banks in Nigeria lost 159 billion naira to electronic fraud and cybercrime. According to the country’s central bank, bank customers lost about 6 billion to e-fraud. Experts say while there’s been a steady growth in the usage e-payment channels, cyber-crime has also been rising and could hit 6 trillion dollars globally by 2021. David Isiavwe, President, Information Security Society of Nigeria joins CNBC Africa for more.