Cybercrime- Global Financial Terrorism & Threat to Economic Development

A significant revelation emerged that the banking sector in Kenya has silently been crumpling with the vise of cybercrime activities that threatened its very existence. The concealed disquiet could be attributed to high risk of exposing the challenge or different institution felt they had the required internal mechanisms to deal with the situation and strategize of how they can reduce the costs associated with the menace. The ICT policy as well as the cybercrime policy has done very little if anything to curb the menace. Policies have no framework to root out or to even curb the vise. This sad scenario has threatened the very core of financial institutions.