SOUTH AFRICA - INTERNET FRAUD COSTS SA R2 BILLION ANNUALLY

Information and communications technology (ICT) experts say that it's been estimated that South Africa loses more than R2 billion to internet fraud and phishing attacks annually.

They have urged government to fast-track the full implementation of laws to fight Cyber-crime.

The experts have been gathered in Johannesburg to discuss the State of Online safety.

The Electronic Telecommunications Act is the main legislation that South Africa uses to prosecute cyber criminals.

The Cyber Crime and Security Bill is due for cabinet approval.

Chairperson of the National Cybersecurity Advisory Council of the Telecommunications and Postal Services Department Barend Taute says; "Take Cyber security seriously as a country. The internet is globally seen as the growth engine for the economy."

"We need jobs that will grow the economy; we need to narrow the gap between the rich and poor."

"That comes from growth. But one Cyber security incident can actually have a major impact on our ability to grow."

VIA - sabc.co.za