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Ransomware Persisted Despite Improved Detection in 2022 – IBM Report

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IBM Security released its annualX-Force Threat Intelligence Index finding that although ransomware’s share of incidents in the Middle East and Africa (MEA) held steady at 18%, globally defenders were more successful detecting and preventing ransomware.

Despite this, attackers continued to innovate, with the report showing that globally the average time to complete a ransomware attack dropped from two months down to less than 4 days. 

According to the 2023 report, the deployment of backdoors, which allow remote access to systems, emerged as the top action by attackers in the MEA region last year. Backdoor deployments were  detected in 27% of the cases X-Force responded to in this region in 2022. Ransomware and worms tied for the second-most common attack type in the region at 18% each. The uptick in backdoor deployments can be partially attributed to their high market value. X-Force observed threat actors selling existing backdoor access for as much as $10,000, compare this to stolen credit card data, which sells for less than $10 per card today.

As organizations across the MEA region try to address the ever-evolving cyber threats landscape, Frida Kleimert Knibbs, Security Leader at IBM MEA, stressed the critical role of threat intelligence in safeguarding against these threats. She commented: “Proactively managing security risks and evolving cybercrime tactics is a critical priority for organizations across MEA. The X-Force Threat Intelligence Index findings demonstrate the continued threat of ransomware and the increasing use of thread hijacking tactics.”

She added: “To safeguard against these threats, it’s imperative that companies remain vigilant and focus on effective incident response planning. As the security landscape evolves, it is crucial to prioritize threat intelligence and strengthen defenses”.

The IBM Security X-Force Threat Intelligence Index tracks new and existing trends and attack patterns – pulling from billions of datapoints from network and endpoint devices, incident response engagements and other sources.

Some of the key findings in the 2023 report include:

  • Extortion: Threat Actors Go-to Method. The most common impact from cyberattacks in 2022 was extortion, which was primarily achieved through ransomware or business email compromise attacks. Extortion and financial loss each accounted for half of identified impacts in incidents across the MEA region in 2021. Manufacturing was the most extorted industry globally in 2022, and it was again the most attacked industry for the second consecutive year. Manufacturing organizations are an attractive target for extortion, given the extremely low tolerance for down time.
  • Cybercriminals Weaponize Email Conversations. Thread hijacking saw a significant rise in 2022, with attackers using compromised email accounts to reply within ongoing conversations posing as the original participant. X-Force observed the rate of monthly attempts increase by 100% globally compared to 2021 data. Over the year, X-Force found that attackers used this tactic to deliver Emotet, Qakbot, and IcedID, malicious software that often results in ransomware infections.
  • Legacy Exploits Still Doing the Job. The proportion of known exploits relative to vulnerabilities declined 10 percentage points globally from 2018 to 2022, due to the fact that the number of vulnerabilities hit another all-time high. The findings indicate that legacy exploits enabled older malware infections such as WannaCry and Conficker to continue to exist and spread.
  • Phishers “Give Up” on Credit Card Data. The number of cybercriminals targeting credit card information in phishing kits dropped 52% globally in one year, indicating that attackers are prioritizing personally identifiable information such as names, emails, and home addresses, which can be sold for a higher price on the dark web or used to conduct further operations.
  • Finance and Insurance Remain Prime Targets for Cyberattacks in MEA: In the Middle East and Africa, Finance and insurance was the most-targeted industry in 2022, accounting for 44% of incidents and down slightly from 2021 at 48%. Professional, business and consumer services accounted for 22% of attacks, with manufacturing and energy tying for third place at 11%.

The report features data IBM collected globally in 2022 to deliver insightful information about the global threat landscape and inform the security community about the threats most relevant to their organizations. You can download a copy of the 2023 IBM Security X-Force Threat Intelligence Report here.

 Additional sources

  • Read more about the report’s top findings in this IBM Security Intelligence blog.
  • Sign up for the 2023 IBM Security X-Force Threat Intelligence Index webinar on Thursday, March 2, 2022, at 11:00 a.m. ET here
  • Schedule a consult with IBM Security X-Force

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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Secure Identity Alliance: OSIA Becomes Official ITU Standard

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Secure Identity Alliance (SIA) has announced that its OSIA specification, has been recognized as international standard by the International Telecommunication Union’s Telecommunication Standardization Sector (ITU-T).

Secure Identity Alliance: OSIA Becomes Official ITU Standard

This milestone establishes OSIA as official ITU standard (ITU-T Recommendation) for the global infrastructure of information and communication technologies (ICT).

The specification that is now an ITU-T Recommendation is: ITU-T X.1281 – APIs for interoperability of identity management systems.

ITU-T is the standardization arm of ITU, the United Nations specialized agency for ICT.

The Secure Identity Alliance specifications were approved as official ITU-T Recommendations by ITU members including 193 countries and the world’s front-running ICT companies on 1st March 2024.

The new ITU-T Recommendation is under the responsibility of ITU’s standardization expert group for security, ITU-T Study Group 17.

“We are very proud that the OSIA specification is recognized as an international standard by ITU-T. This milestone demonstrates the maturity of OSIA and its potential to foster interoperability and promote fairness in the identity management systems market,” said Debora Comparin, chair of the OSIA Initiative.

Prof. Heung Youl Youm, chairman of ITU-T Study Group 17, said, “The recognition of the OSIA specification as an official ITU-T Recommendation underscores its critical contribution to the advancement of global ICT infrastructure. We are thrilled about the ongoing collaboration between ITU-T SG17 and the SIA, aimed at developing standards for secure identity management.”

“As Editor of the OSIA standard in the ITU-T Study Group 17 Q10, I am pleased to have contributed to this successful recommendation by the ITU,” said Abbie Barbir, rapporteur for ITU-T’s working group on ‘Identity management and telebiometrics architecture and mechanisms’ (Q10/17).

“The collaboration with the SIA continues on OSIA and other structuring initiatives and standards development.”

Engr Abisoye Coker-Odusote, CEO, National Identity Management Commission (NIMC), Nigeria and chair of the OSIA Advisory Committee, said, “As the Chair of the OSIA Advisory Committee, comprised exclusively of government representatives, we take great pride in our five years of collaboration guiding the working group in the development of the OSIA specification. OSIA establishes equal marketplace conditions, fosters collaboration, and ensures product compatibility post-mergers and acquisitions.

The OSIA standardized interfaces drive innovation, enabling new local market models and reducing fraud within multiple ID systems.

Additionally, OSIA addresses integrator/vendor lock-in, allowing governments to maintain control over their identity systems and pursue national development agendas seamlessly.”

 

 

 

 


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Zipline Achieves One Millionth Delivery Milestone

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Zipline, the leading force in drone logistics delivery, has reached a monumental achievement with its one-millionth delivery to customers, signifying a significant leap forward in the logistics delivery sector. This historic milestone was marked by the delivery of two bags of IV fluid from a Zipline distribution center in Ghana to a local health facility.

Renowned for its innovative approach to designing, building, and operating autonomous delivery drones, Zipline’s zero-emission technology has garnered acclaim, covering over 70 million commercial miles across four continents.

Backed by investments surpassing several millions of dollars from notable supporters like Sequoia Capital, a16z, and Google Ventures, Zipline has firmly established itself as a disruptive leader in the industry. CEO Keller Rinaudo emphasizes the company’s commitment to key markets such as healthcare, quick commerce, and food delivery, envisioning a future where Zipline achieves 1 million deliveries per day.

“The three areas where the incentive really makes the most sense today are health care, quick commerce, and food,” underscoring Zipline’s commitment to partnering with top brands and institutions to transform the future of logistics using autonomous drones –  Keller Rinaudo Cliffton.

In Africa, Zipline has made a profound impact, forging significant partnerships across the continent. In Ghana alone, which accounts for about 54% of the one-millionth delivery milestone, Zipline’s collaboration with the government and health ministry has been pivotal. Since its inception, Zipline has completed over 540,000 drone delivery flights across Ghana, encompassing the delivery of crucial supplies, including 3,566,500 units of vaccines, 2,825,210 units of medical products, 14,807 units of blood products, and 18,289 units of animal health products. These deliveries have directly impacted the lives of over 17 million Ghanaians across 13 regions, saving 6,014 lives through emergency deliveries, including blood products and snake antivenom since 2019.

Beyond mere statistics, the company has facilitated the delivery of 12.2 million vaccine doses, including 2.8 million Covid-19 vaccines, leading to a 21% increase in vaccination coverage and a 44% reduction in missed opportunities to vaccinate in Ghana. These efforts have potentially saved 727 lives due to increased vaccination coverage. Additionally, Zipline’s infrastructure expansion in Ghana, with six distribution centers strategically located across the country, has enabled swift and efficient on-demand drone delivery services.

Not only this, the technology has facilitated the vaccination of 104,000 cattle against Anthrax in northern Ghana, safeguarding both human and animal lives. Such interventions have also extended to the agricultural sector, where 10.4 million doses of poultry vaccines have been delivered to poultry farmers nationwide, combating diseases such as Newcastle disease, Fowl pox, and Gumboro.

But Zipline’s impact in Africa extends far beyond Ghana’s borders. Operating in Rwanda, Kenya, Côte D’Ivoire, and Nigeria, the company has become a beacon of hope for healthcare accessibility and disease prevention. In Rwanda, Zipline serves as a lifeline, delivering 75% of the country’s blood supply outside of Kigali, drastically reducing maternal mortality rates due to postpartum hemorrhage by 88%. Additionally, the company’s deliveries of agricultural products have elevated farmers’ fertility rates by 10% compared to the national average.

In Kenya, Zipline’s collaborations with the Elton John AIDS Foundation have facilitated the delivery of HIV/AIDS prevention and treatment products, empowering individuals to manage their health effectively. Similarly, in Nigeria, Zipline’s expansive coverage encompasses over 500 health facilities in Kaduna, more than 350 in Cross River State, and 200 in Bayelsa. Teaming up with Gavi, the Vaccine Alliance, Zipline focuses on reaching children in remote regions, ensuring equitable access to life-saving immunizations.

Zipline’s adaptive approach and tailored delivery services reflect its commitment to meeting the diverse needs of populations and sectors. The achievement of the one millionth delivery milestone underscores its dedication to enhancing healthcare outcomes and addressing societal needs across Africa. As Zipline continues to innovate and expand its reach, it is poised to shape the future of healthcare delivery on the continent and beyond.

 

 

 


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Telcos Record N27Bn Loss from Damaged Fibre Cables

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Repairs and revenue losses from damaged cables are estimated to have cost Nigeria’s telecom industry almost N27bn ($23m) in 2023, according to documents obtained by Bloomberg.

Telcos Record N27Bn Loss from Damaged Fibre Cables

MTN Nigeria, the biggest wireless operator in Africa’s most-populous nation, and Airtel Africa Plc bore the brunt of the costs, the documents show.

MTN suffered more than 6,000 cuts on its fiber cable last year, the documents show.

On Feb. 28, a cut in its network in three different locations by a road construction firm, an oil serving company, and someone burning rubbish in a manhole meant customers faced more than five hours of data and voice outages.

The operator relocated 2,500 kilometers (1,553 miles) of vulnerable fiber cables between 2022 and 2023, at a cost of more than N11bn —enough to build 870 kilometers of new fiber lines in areas without coverage.

Broadband fibre optic cables form the backbone of modern communication infrastructure, enabling the high-speed data transmission that underpins a wide range of personal, business, and societal activities.

On several occasions, the Nigerian Communications Commission (NCC), the industry regulator, has acknowledged this challenge and expressed willingness to work on measures to address it.

These measures include stricter regulations to deter vandalism and improved collaboration between telcos and government agencies responsible for construction activities.

According to the NCC, the telecom sector will make up more than a fifth of the country’s gross domestic product by the end of 2027, up from 13.5 per cent in the third quarter of last year.


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