Kenyan businesses will incur losses amounting to at least $1.63 billion (Sh141.68 billion) in 2014 due to cyber crime, a new study by the International Data Center shows.
The study established that employees will fuel losses as they install their own pirated software to work computers without the knowledge of the employer.
"In this survey 27 percent of respondents said they bring their own software to work. Based on the number of programs they installed, IDC estimates that nearly 20 per cent of pirated software in enterprises is put there by employees," the study said.
The figures showed that many consumers have biggest fears associated with loss of personal data and unauthorized access to their computers adding that 60 per cent will encounter the latter and 51 per cent the former during the year.
According to year 2011 data by the IDC, software piracy rate in the country stood at 78 per cent, which marked the highest penetration of cyber crime in East Africa.
Kenya Copywrite Board director Marisella Ouma said it is vital to highlight risks in using pirated software in order to protect personal and business information from theft by hackers. "The law has set exclusive rights for rights holders and penalties for those who infringe on copyright and related rights," she said.
Globally, the IDC study said 43 percent of employees do not routinely install security updates on their computers and they will waste 1.2 billion hours in 2014 dealing with security issues created by malware.
"Enterprises will spend $491 billion (Sh42.47 trillion) in 2014 because of malware associated with pirated software, which breaks out to $127 billion (Sh10.98 trillion) in dealing with security issues and $364 billion (Sh31.48 trillion) dealing with data breaches."
The think tank said governments are wary of the looming cyber threats and the biggest fears are loss of business trade secrets or confidential data, unwanted access to government information, and attacks on critical communication infrastructure.
The study established that employees will fuel losses as they install their own pirated software to work computers without the knowledge of the employer.
"In this survey 27 percent of respondents said they bring their own software to work. Based on the number of programs they installed, IDC estimates that nearly 20 per cent of pirated software in enterprises is put there by employees," the study said.
The figures showed that many consumers have biggest fears associated with loss of personal data and unauthorized access to their computers adding that 60 per cent will encounter the latter and 51 per cent the former during the year.
According to year 2011 data by the IDC, software piracy rate in the country stood at 78 per cent, which marked the highest penetration of cyber crime in East Africa.
Kenya Copywrite Board director Marisella Ouma said it is vital to highlight risks in using pirated software in order to protect personal and business information from theft by hackers. "The law has set exclusive rights for rights holders and penalties for those who infringe on copyright and related rights," she said.
Globally, the IDC study said 43 percent of employees do not routinely install security updates on their computers and they will waste 1.2 billion hours in 2014 dealing with security issues created by malware.
"Enterprises will spend $491 billion (Sh42.47 trillion) in 2014 because of malware associated with pirated software, which breaks out to $127 billion (Sh10.98 trillion) in dealing with security issues and $364 billion (Sh31.48 trillion) dealing with data breaches."
The think tank said governments are wary of the looming cyber threats and the biggest fears are loss of business trade secrets or confidential data, unwanted access to government information, and attacks on critical communication infrastructure.
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