NCBA Bank Managing Director John Gachora. Photo/handout.
NCBA Bank has invested $5 million (Sh644.5 million) in enhancing its cybersecurity infrastructure amid a sharp rise in cyber-attacks over the past year.
This substantial investment is aimed at reinforcing the bank’s firewalls to address the growing threat landscape in the country.
John Gachora, Managing Director of NCBA Bank, emphasized the importance of fortifying the bank’s defenses against cyber threats.
“We see this issue as a real problem across the banking industry, and it is crucial for us to implement the necessary infrastructure to combat these vulnerabilities,” Gachora said.
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Recent data from the Communications Authority of Kenya (CA) highlights a significant increase in cyber threats, with 1.1 billion incidents detected between March and June 2024.
This marks a 16.5 percent rise compared to the same period the previous year.
The CA report noted that the most targeted systems include operating systems, database servers, web applications, remote access systems, and network devices.
The report also revealed that most attacks were directed at organizations within the ICT sector, with attackers focusing on database servers and operating systems of Internet Service Providers (ISPs) and cloud-based services.
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