Addis Ababa, June 16, 2022 (FBC) – The Ethiopian Information Network Security Administration (INSA) revealed that it has managed to save 1.4 billion Birr by thwarting 97 percent of cyber-attacks attempted on various institutions in the country over the past 11 months.

Speaking to ENA, Information Network Security Administration, Deputy Director General, Solomon Soka said cyber-crime has been on the rise in Ethiopia.

According to him, the number of cyber-attacks attempted on various institutions in Ethiopia has climbed to 2,900 last year from 790 in 2019.  The nation has experienced 1,080 cyber-attack attempts in 2020 alone, he added.

Some 6,000 cyber-attacks have also been attempted in the past 11 months of this Ethiopian budget year, the deputy-director general added.

He mentioned that the banking sectors, financial service providers and media outlets were targets of these cyber-attacks.

Key government infrastructures, political organizations, federal and regional government institutions, as well as health and education institutions were also the target.

However, INSA has managed to save 1.4 billion Birr by thwarting 97 percent of the 6,000 cyber-attacks attempted in the country over the past 11 months, the deputy-director general stated.

Solomon noted that the capacity of the administration to prevent the nation from such disasters has been developing, stressing the need to be cautious as cyber-attack is unpredictable.

It was learned that the world lose an average of 16.4 billion USD every day due to cyber-attacks.

The magnitude of the loss with cyber-crimes has globally been increased from 3 trillion USD in 2015 to 6 trillion USD by 2021.

The fast-growing global cyber-crime is projected to cost the world more than 10.5 trillion USD by 2025.

Prime Minister Abiy Ahmed in his briefing on Tuesday to members of the House of Peoples’ Representatives stated that 5,860 cyber-attacks have been carried out against Ethiopia in the past nine months, noting that the cyber-attack is becoming a challenge for Ethiopia too.

The Prime Minister further emphasized the need to build resilience to cyber-attacks in addition to regular military build-ups to ensure Ethiopia’s sovereignty.