(ZNBC)-Zambia has in the past two years lost K277 million from the financial sector through cyber crimes.
Drug Enforcement Agency -DEC- Northern Province Deputy Regional Commander MATTHIAS KAMANGA says losses are mainly from people who have been hacking into the Banks.
Mr. KAMANGA says cyber crime has become sophisticated and the nation is losing a lot of money.
Speaking during the Cyber Security training in Lusaka today, Mr. KAMANGA said the fight against cyber crimes must be intensified because criminals are becoming sophisticated by the day.
Mr. KAMANGA also disclosed that there is an increase in fraudulent investing scams.
And speaking at the same event, Bankers Association of Zambia -BAZ- expressed concern that financial fraud is growing and it is now well coordinated.
BAZ Treasurer MWINDWA SIAKALIMA called on the financial sector and law enforcement agencies to work together and fight cyber crimes.
Meanwhile, the Attorney General Alliance said it will continue providing training on cyber security to help sharpen the skills of law enforcement agencies and the financial sector.
Alliance Representative MULENGA KAPWEPWE said transnational crime knows no borders and there is need for those charged with the responsibility to fight it to be on the look-out for cyber criminals.