Kenya records surge in cybercrime with 82 per cent targeted, gaming sector most hit - report
The proportion of Kenyans who were not just targeted but actually fell victim to fraud rose from eight to 11 per cent during the same period.
Kenya’s digital fraud landscape is becoming increasingly concerning, with a growing number of Kenyans being targeted as at the end of 2024.
According to the latest fraud update report by information and insights firm TransUnion, 82 per cent of Kenyans were targeted by fraudsters in the second half of the year, up from 80 per cent in the first half.
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Additionally, the proportion of Kenyans who were not just targeted but actually fell victim to fraud rose from eight to 11 per cent during the same period.
The report also highlights that the average annual financial loss per victim reached $897 (Sh116,000), underscoring the increasing financial toll of digital scams on individuals.
It further identifies the gaming industry, particularly online gambling and poker, as the most targeted sector by fraudsters preying on Kenyan users.
This is amidst the growing popularity of online gaming across the country.
The trend somewhat aligns with the general global pattern. The industry ranks as the third most targeted sector for suspected fraud attempts worldwide, with a rate of 7.8 per cent.
It trails behind the communities and video gaming sectors.
“Communities, which include web properties like online forums and dating sites, experienced the highest percentage (11.6 per cent) of suspected digital fraud attempts globally in 2024 among industries analysed, a nine per cent volume increase over 2023,” the report reads.
Notably, the gaming industry also recorded an increase in fraud during the year.
“Other industries that experienced increased suspected digital fraud volume in 2024 included logistics (101 per cent increase), gaming (20 per cent), government (6 per cent) and financial services (3 per cent).”
The report highlights smishing as the most prevalent tactic used by cybercriminals in Kenya.
Smishing involves scammers sending fraudulent text messages designed to trick recipients into revealing personal or financial details, clicking harmful links, or downloading malicious apps.
The deceptive messages often impersonate trusted institutions to trick victims into sharing sensitive information or clicking on malicious links.
TransUnion’s findings also reveal a notable shift in fraudsters’ strategies.
Rather than focusing on large-scale, long-term scams as before, it says criminals are increasingly leveraging stolen identity information to carry out quick, smaller scams that have a higher likelihood of success.
This rapid-fire approach enables fraudsters to exploit victims before detection mechanisms can respond.
Ideally, this evolving landscape means the risks to everyday digital users are growing, with fraudsters adapting swiftly to new technologies and security measures.
A report by the economic think tank and lobby World Economic Forum (WEF) supports this, noting that cybercriminals now take less than a week to carry out a cyberattack.
It says the average number of days taken by cyber criminals to execute a single attack has moved from around 60 days in 2019 to four today.
The lobby attributes the development to the fast-growing Artificial Intelligence (AI), which, potentially, is increasing the number and frequency of attacks.
“Threat actors are already using AI-powered language models like ChatGPT to write code. Generative AI is also helping the less proficient threat actors create new strains and variations of existing ransomware, increasing the number of attacks they can execute,” the lobby says.
“We, therefore, expect an increased utilisation of AI by malicious actors in the future, necessitating even stronger cybersecurity measures."
WEF also expresses concern over the increasing number of people owning smartphones, tablets and laptops, terming it an attractive combination for cybercriminals.
During the pandemic, many organisations enabled new ways of accessing their corporate network via private devices, without the need for multi-factor authentication, a move the lobby says resulted in several successful cyberattacks.
“Criminals are now targeting mobile devices with specific malware to gain remote access, steal login credentials, or deploy ransomware,” WEF adds in part.
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