Cybercrime could cost Kenya an estimated KES 2 billion (about $23 million) this year, a senior government official has projected.

Kenya’s information, communications and technology (ICT) cabinet secretary, Dr. Fred Matiangi, released the statistics at a conference that brought together stakeholders from the ICT sector and the Communications Commission of Kenya (CCK) in Nairobi.

“It is estimated that Kenya will by the end of this year lose nearly KES 2 billion through fraud associated with all forms of cyber crime,” said Matiangi during a session.

The statistics further indicated that close to 1,000 Kenyans fall victims to internet fraud on daily basis.

The research listed the banking industry as the most affected by cybercrime.

Crimes committed via the internet include swindling unsuspecting individuals by way of taking their ATM card numbers and stealing their personal information.

Stakeholders at the meeting said that the Common Market for East and Southern Africa (COMESA) must work closely with judiciaries in the region to ensure reinforcement of laws guarding against the cyber crime.

However, they raised hope of curbing cyber crime considering the intensive training judicial and law enforcement officers have been taken through.

The CCK, though, has established the National Cyber Security Steering Community (NCSSC) that comprises of various actors in a bid to improve on the fight against cybercrime in the country.