7.5 Billion Naira lost to cyber fraud yearly

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 cyber crime
, 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 cyber crime is causing great havoc globally. The report also maintained that out of the $1 trillion loss, only $390 billion was reported for obvious reasons.


Let's hope security agencies clamp down on these cyber criminals soon enough.