Mobile Authentication in Africa

Sourced from International IDEA Digital technology has not only profoundly altered the way we live our lives, but also changed the pace of communication and commerce, allowing us to do everything, immediately. While this has effectively impacted every aspect of our lives, it also inevitably changed the way we are targeted by fraudsters. Along with the world transforming to digital, so has crime. According to an Accenture report published in 2019, the total value at risk of cybercrime over the next five years is an estimated $5.2 trillion. The average cyberattack costs $13 million, according to the same report, with phishing, social engineering and stolen device crime making up $2.4 million of the cost of an average attack. In West Africa, cybercrime is on the increase, with a recent analys...