This archive report was first published on 10 May 2021.
Kenya's shift to a digital economy has created new opportunities, but also increased the risk of cyber threats. According to the Communications Authority of Kenya, cyber threats rose by over 50 percent to 56.2 million incidences in the fourth quarter of 2020.
Speaking at a virtual forum to launch the 2021 Annual Kaa Chonjo! Card, Mobile and Online Safety Awareness Campaign, stakeholders in the financial, telecommunications, consumers, and payments sector emphasized the need for public awareness in securing digital and card payment services.
‘I am convinced that the increased cyber threat trend needs continued awareness on cyber hygiene across sectors if Kenya is to safeguard the gains made so far in ICT. In addition, there is need for cross-sector collaboration on cyber awareness and information sharing,’’ said Mrs. Mercy Wanjau, acting Director General of the Communications Authority of Kenya.
Kenya Bankers Association Chief Executive Officer Dr. Habil Olaka noted that there has been a significant shift in bank customers' preferences for digital services, with 43 percent of customers opting for digital services in 2020. ‘’While the banking industry's digital resilience has continued to promote continuity in the financial services sector, rising cases of fraud need to be addressed further through consumer education’’, he said.
Visa's Country Lead for Kenya, Eva Ngigi Sarwari, underlined the need for cross-sector partnerships in curbing fraud threats, adding that leveraging on data analytics can enable stakeholders to identify areas of vulnerability.
‘’Monitoring fraud trends is critical as it enables stakeholders to identify awareness gaps and ensure security of consumer monies is guaranteed,’’ said Ms. Wambui Mbarire, CEO of the Retail Trade Association of Kenya.
The month-long campaign will be coordinated under the theme ’’Keeping Pace With Evolving Financial Services Security Challenges’’ – highlighting emergent security issues in light of the sustained shift to digital financial service solutions – necessitated by the Covid-19 pandemic.
