Some 92.3 per cent of MSME entrepreneurs were unable to recognise major cyber-threats and identify possible mitigation measures to address those threats, according to a latest survey.
Citing ransomware, malware, phishing and spam as major threats, it also finds that about 40 per cent of the entrepreneurs are falling prey to cyber-attacks directly or indirectly.
As a result, they often fall victim to various cyber-threats and incur significant business losses, the study, conducted by Inspira Advisory & Consulting Ltd, a youth-led think-tank, reveals the findings at the launch of SARDI SME Cybersecurity Awareness Campaign.
SME Foundation managing director Dr Md Mafizur Rahman inaugurated the campaign. The slogan of the campaign is 'Digital Safety for Business'.
Inspira has been commissioned by SARDI to execute a cybersecurity awareness campaign for MSME (micro, small and medium enterprises) owners in Bangladesh.
USAID's South Asia Regional Digital Initiative (SARDI) is part of Digital Frontiers, implemented by DAI Global, LLC.
As part of the project, Inspira conducted the survey of the Knowledge, Attitude, and Practice (KAP) of SME owners in Bangladesh in regard to cybersecurity.
A2i project director (joint secretary) Dr Dawan Muhammad Humayun Kabir, Additional Deputy Commissioner of the Counter-terrorism and Transnational Crime (CTTC) unit at Dhaka Metropolitan Police Md Najmul Islam and SARDI project lead Aklima Haque, among others, spoke.
Aspire to Innovate (a2i) consultant Zeeshan Kingshuk Huq moderated the programme.
At the event, Dr Rahman said an estimated 0.3-million MSME entrepreneurs are currently engaged in e-commerce.
Of them, he said, 80 per cent are female.
SME Foundation is putting huge emphasis to train MSME entrepreneurs on cyber-related issues.
Women are the most vulnerable in this regard, said Mr Rahman. Mr Kabir said a2i is helping digitise the judicial system.
The government has already started incorporating 'coding' in the primary school syllabus, he added.
Meanwhile, Mr Islam stressed the need for nationwide cyber-police centre to address rising cyber-crimes.
The CTTC receives 600 complaints over cyber-related matters each month, he added. With an e-commerce revolution in Bangladesh, entrepreneurs are experiencing accelerated digital transformation in their business models.
In the next eight months, this campaign will reach grossly 1.0-million MSME owners to enhance their knowledge about cyber-threats and preventive measures.
According to the study, only 21.43 per cent of cyber-victims submitted complaints to law-enforcement agencies, whereas a majority of them did not even know how to submit a complaint.
They are largely reluctant to seek legal remedy unless they are financially affected, it disclosed.
As many as 500 entrepreneurs took part in the survey which was conducted between June to September 2022 in Dhaka, Chattogram, Gazipur, Narayanganj, Cox's Bazar, Bogura, and Jashore districts.
Half of them were surveyed from non-urban areas.
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