Small and medium-sized companies record losses of US$120 million per year

Small and medium-sized enterprises (SMEs) worldwide have suffered losses of around US$120 million per year and US$2.5 billion for large companies due to cyber attacks, the product coordinator of Angola Cables said in Luanda.

Crisóstomo Mbundu, who was reacting to the latest global update on cybercrimes, said that these losses included the time that the infrastructure did not provide services, legal penalties for non-compliance with strict contract terms, as well as the negative connotation of the company's image.

 He said that there is currently a sharp annual growth in cybercrime, having reached figures above 170 per cent at the peak of the pandemic compared to the year 2020.

"Therefore, it is imperative to protect the virtual space with the same intensity as one protects the territory of a nation," the computer engineer maintained.

He assured that in the case of Angola, the target segments of cyber attacks will focus on wholesale Internet operators, mobile operators, the government and the financial system.

Crisóstomo Mbundu said that the increase in equipment, services, applications and people connected to the Internet as a result of the digital economy meant that there was an increasing possibility of cyber attacks. 

"Angola has the capacity to interconnect internationally, which in itself is extremely positive, on the other hand we have become visible to cyber attacks," he said. To minimize the effects of cyber attacks, the specialist recommended the use of the "AntiDDoS" system, capable of monitoring, detecting and mitigating any attack in real time as close as possible to its origin.

He also said that Angola Cables is the only Angolan operator with a global infrastructure with automatisms capable of protecting attacks of this nature.

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