E-Business
10 Cyber Security Trends to Watch in 2019
Biometric hacking, an increase in phishing attacks and sophisticated use of artificial intelligence (AI) are among the top cyber security threats to be expected in 2019, as attackers stop at nothing to steal identities and evade detection through new techniques.
- Attacks through theft of biometric data
While several major leaks of biometric data have already occurred globally, the Middle East and Africa regions could see the first attacks in the theft and use of biometric data in 2019, according to Kaspersky Lab.
“As more biometric systems for user identification and authentication are being implemented by various financial institutions in META (Middle East, Turkey and Africa), 2019 will see criminals exposing vulnerabilities in passcodes, touch ID sensors and facial recognition,” says Fabio Assolini, senior security researcher at Kaspersky Lab.
“While many financial organisations consider these emerging biometric-based solutions to improve security over current authentication methods, biometric data will increasingly be used to steal sensitive information.”
- AI and machine learning make attacks harder to detect
Manuel Corregedor, COO at Telspace Systems, says 2019 will see more advanced exploitation of AI to carry out and conceal new exploits.
“I believe we will see an increase in attackers utilising AI and machine learning as a means to make their attacks more difficult to detect or prevent,” says Corregedor.
However, AI will also change the way the industry deals with threats.
Brian Pinnock, cyber security specialist at Mimecast, says AI and machine learning will play a more prominent role as the velocity and variety of attacks makes conventional approaches – such as blacklists – outdated and ill-equipped to deal with modern cyber threats.
“Organisations will realise the importance of threat intelligence and will focus on the need for an ‘intelligence function’ to identify threats,” says Pinnock.
- Phishing scams to soar
As e-mail attacks grow more frequent and complex, more organisations will be left scrambling for new ways to reduce risk and better detect and remediate threats in 2019.
Pinnock says throughout 2019, the most insidious development won’t be new attack types, but, rather, improved execution of existing attack types, especially those delivered via e-mail.
“Phishing techniques like the use of homoglyphs, elongated URLs, legitimate certifications (green lock), and credetial-harvesting sites will increase. Flawless phishes will continue to prey on the gap in human firewalls, pivoting internally around organisations and intensifying efforts to better educate all staff.”
Dr Jabu Mtsweni, research group leader for cyber defence at the Council for Industrial and Scientific Research (CSIR), points out that phishing scams are still quite popular as cyber security awareness remains low.
“Denial-of-service attacks on government Web sites were also popular in 2018. This includes injection of malware on government Web sites that remain undetected. In 2019, malicious e-mail and links will continue to be used by criminals to get access to organisations’ networks.”
- Fake videos bring a new era of fake news
UK-based innovation foundation Nesta forecasts that 2019 will see a new level of malicious posts on social media as fake videos set the next stage in fake news.
Lifelike computer-generated graphics – appearing to show video footage of events that never really happened – will be used to mislead the public.
“We predict that within the next 12 months, the world will see the release of highly authentic-looking malicious fake videos, which could cause substantial damage to diplomatic relations between countries,” says Nesta. “Deepfakes, a new AI-based technology that makes it possible to create fake videos of individuals nearly indistinguishable from the real thing, will make this possible.”
The innovation foundation believes that Deepfakes have the potential to spark a geo-political incident if a politician or celebrity is maliciously impersonated.
- Improved execution of existing attack types
In 2018, cyber attacks and data breaches continued to increase in both frequency and intensity, and organisations can expect more of the same in 2019, according to experts.
Corregedor points out that the biggest cyber security event of 2018 is probably just the sheer number of data breaches that have occurred across industry sectors, some utilising advanced attacks, others as a result of mistakes made by the affected organisations.
Over 4.5 billion data records were compromised worldwide in the first half of 2018, according to Gemalto’s latest Breach Level Index.
Pinnock points out that better social engineering, increases in credential stuffing attacks, and more complicated malware with multiple stages and different form factors for transmission will make threats incredibly tricky to detect in 2019.
“With global cyber crime organisations growing in maturity and sophistication, many are now acquiring capabilities that were once the sole reserve of nation states,” notes Pinnock
“We’re likely to see these cyber criminals use stolen credentials from the past few years’ data breaches to compromise the security of even the most secure organisations. Even companies with good cyber protection have little protection against the reuse of passwords that have been collected in other breaches.”
- Slight decrease in crypto currency attacks
According to Kaspersky Lab, 2018 saw a rise in the malicious use of crypto currency miners, with virus attacks and malicious software against crypto miners growing almost fourfold.
Kaspersky predicts that crypto currencies as a means of payment will decline further in 2019, and this trend is expected to lead to a slight decline in crypto currency threats.
“In the face of huge commissions, slow transfers, a large price for integration, and, most importantly, a small number of customers, the use of crypto currency as a method of payment has declined steadily from 2017 and will continue to decline in 2019.”
However, those crypto currency threats that do occur will be focused on mining malware, with the intervention of new players and the continuation of the use of ransomware.
“In 2018, the META region became more appealing to cyber criminals, with financial and malicious crypto mining attacks taking centre stage,” notes Assolini.
“Illegal mining of crypto currencies increased dramatically to overtake the main threat of the last few years – ransomware. We believe the reason for this is that mining is silent and causes less impact that ransomware, making it less noticeable.”
- Mobile, in-the-app malware
While malware that runs on the Windows operating system vastly outnumbers malware for any other platform, users of mobile devices are increasingly subject to malicious activity that pushes malware apps to their phones, tablets, or other devices running Android and iOS, according to computer network security company Sophos’ 2019 Threat Report.
For some time, malicious versions of popular apps were predominantly found on third-party app stores. These can be sketchy places, hosting pirated and/or trojaned versions of legitimate apps, notes the report.
Unusual malicious campaigns affecting the Android platform – phishing-in-the-app – can be expected in 2019, warns Sophos.
“In 2018, we discovered one way that criminals can bypass the Play Market’s source code checks was by not including anything malicious in the app itself, but rather by making an app that, in essence, is a browser window to a phishing site. The apps, in this case, were designed in tandem with the phishing site so the user had a seamless experience,” notes the report.
- 5G deployments to fuel threats
A number of 5G network infrastructure deployments kicked off this year, and 2019 is expected to be a year of accelerating 5G activity. While it will take time for 5G networks and 5G-capable phones and other devices to become broadly deployed, experts predict growth will occur rapidly.
According to Symantec’s Cyber Security Predictions: 2019 and Beyond, growing 5G deployments and adoption will expand the cyber-attacks surface area.
“As a stepping stone to broad deployment of 5G cellular networks, some carriers are offering fixed 5G mobile hotspots and 5G-equipped routers for homes. Given the peak data rate of 5G networks is 10 Gbps, the shift to 5G will catalyse new operational models, new architectures, and, consequently, new vulnerabilities.
“Over time, more 5G IoT devices will connect directly to the 5G network rather than via a WiFi router. This trend will make those devices more vulnerable to direct attack.”
- IIoT attacks not slowing down
Industrial IoT (IIoT) attacks through cloud infrastructure and over-reliance on AI in cyber security systems are two critical risks for enterprises in 2019, according to Forcepoint’s 2019 Cyber security Predictions Report.
“In 2019, attackers will break into industrial IoT devices by attacking the underlying cloud infrastructure. This target is more desirable for an attacker – access to the underlying systems of these multi-tenanted, multi-customer environments represents a much bigger payday.”
Three elements expected to play a significant role in the increase of IIoT attacks, according to the report, are: increasing network connectivity to edge computing; the difficulty in securing devices as more compute moves out to the edge; and the exponential number of devices connecting to the cloud for updates and maintenance.
- The rise of SaaS
Gilad Peleg, CEO of cyber security firm SecBI, predicts that in 2019, the model of enterprise software deployed on-premises will gradually disappear as it’s replaced by Software-as-a-Service (SaaS).
Many of the resources once in the hands of corporates, like the database, e-mail server, ERP, CRM and others, will all move to the cloud, leaving enterprises vulnerable, he observes.
“SaaS’ greatest advantage is also its greatest weakness. With SaaS, you need much less IT. This is a benefit at first glance, but upon inspection, it becomes a problem – you don’t control the access, or the data. Therefore, you don’t know you were hacked, nor do you have the tools to know,” notes Peleg.
“The security implications here are that organisations will cease to have visibility into the perimeter and all the perimeter’s defences. As enterprises acknowledge, they are left blind by this change, and will thus need new visibility solutions.”
E-Business
Mastercard, Alerzo, and e-Trade Alliance Unite to Enhance Financial Inclusion for 10,000 MSMEs
Mastercard has collaborated with Alerzo, a leading Nigerian B2B e-commerce company, and the USAID-funded e-Trade Alliance to accelerate the digital transformation of and enhance financial inclusion among micro, small, and medium-sized enterprises (MSMEs) in Nigeria.
This collaboration aims to empower over 10,000 MSMEs with cutting-edge digital and financial solutions, enabling them to achieve sustainable growth and thrive in the digital economy.
Despite Nigeria’s progress in digital technology adoption, MSMEs still face significant challenges, including complex supply chains, reliance on manual, error-prone inventory management, and limited access to essential financial services.
This collaboration addresses these obstacles with user-friendly digital and financial solutions tailored to local MSMEs, such as Alerzoshop, Alerzo’s digital B2B marketplace; and Veedez, a comprehensive digital payment and business management tool, complemented by training initiatives to boost financial and digital literacy.
“Mastercard is committed to driving financial inclusion and empowering small businesses worldwide. Our collaboration with Alerzo, and the e-Trade Alliance in Nigeria provides MSMEs the digital tools and resources needed to thrive in today’s digital economy. By facilitating seamless digital payments and offering comprehensive business management solutions, we are fostering a more inclusive financial ecosystem and driving innovation and growth within the sector.
“This collaboration demonstrates the immense possibilities that can be unlocked through the power of public-private partnerships,” said Folasade Femi-Lawal, Country Manager, West Africa, Mastercard.
Alerzoshop enables MSMEs to stock up using their phones, enhancing their access to suppliers and facilitating secure, efficient and seamless digital payments via Mastercard’s global network.
Veedez is redefining how small businesses operate by helping them digitize processes, unlock new sales opportunities, and increase revenue, with micro-lending services providing vital financial support.
Adewale Opaleye, CEO, Alerzo Limited, added: “We are delighted to collaborate with Mastercard, and e-Trade Alliance for this digital transformation project in Nigeria.
“As the leading partner of choice for informal retailers and MSMEs, we recognize our responsibility to introduce digital retail solutions that will strengthen the economy and facilitate the adoption of a cashless society for the collective benefit of all.
“This initiative is part of our commitment to connecting millions of MSMEs in Nigeria to a world where digital connectivity is integrated into their businesses, making them more profitable and fulfilling.”
This collaboration aims to deliver targeted financial and digital training to 10,000 MSMEs across Nigeria by year-end. Introducing innovative, cost-effective payment solutions like Mastercard’s Tap to Pay, QR codes, Pay-By-Link, and Payment Gateway Services will accelerate digital payment adoption.
Upgrades to Alerzo’s infrastructure will enable seamless payment processing through the Mastercard network, benefitting MSMEs immediately upon signing up for Veedez, available on the App Store and Google Play.
Michael Poor, Senior Manager, Nextrade Group, e-Trade Alliance implementing partner, said, “This public-private sector collaboration underscores our dedication to fostering inclusive economic growth through digital transformation.
“By combining our expertise in skills development for ecommerce, inclusive trade, and access to finance, we aim to support Nigerian MSMEs in overcoming the challenges they face in the digital economy.
“Together with Alerzo and Mastercard, we are committed to empowering small businesses with the knowledge and tools they need to succeed to power more inclusive, sustainable growth in Nigeria.”
This collaboration underscores the commitment of all parties to empower Nigerian MSMEs by furthering the digital transformation of the economy and enhancing financial inclusion.
It supports Mastercard’s goal of bringing one billion people and 50 million micro and small businesses into the digital economy by 2025 and deepening collaborations with international institutions to drive more sustainable, inclusive economic development.
E-Business
Naija Shopping Festival: Konga Offers Unbeatable Christmas Deals
Nigeria’s leading e-commerce platform, Konga, has unveiled the Naija Shopping Festival, a Christmas sales event designed to offer shoppers extraordinary discounts and unbeatable deals.
This exciting shopping extravaganza begins on December 1 and runs through December 30, promising an unforgettable experience for all.
With discounts of up to 70% off on your favourite products, the Naija Shopping Festival is Konga’s way of spreading festive cheer and ensuring no one misses out on amazing deals.
This event caters especially to those who could not participate in Konga Yakata, giving everyone a chance to save big this holiday season.
The festival boasts a wide array of incredible offers across multiple categories, including mobile phones, electronics, FMCG, fashion, groceries, and accessories.
Shoppers can also enjoy specially curated deals such as Christmas Eve Deals, Flash Sales, Santa Shop, and Hamper Packs, ensuring there’s something for everyone this festive period.
Konga is partnering with top global brands such as Apple, Starlink, HP, Zinox, CeraVe, Lenovo, Haier Thermocool, Samsung, and Infinix to deliver the best possible deals. Customers can expect discounts of up to 70% on premium products, ensuring maximum value on every purchase.
Speaking on the launch, Onochie Melvin, E-commerce Manager at Konga, stated, “The Naija Shopping Festival is our way of giving back to our customers and making this Christmas season special for every Nigerian.
“We remain committed to easing the financial burden on Nigerian consumers, especially during challenging economic times. Also, we want to ensure shopping is fun, affordable, and stress-free. With our trusted partners, we’ve curated the best deals to meet the needs of every shopper during this festive period.”
As always, Konga is committed to making shopping easy and convenient for Nigerians.
“By offering substantial price cuts and collaborating with trusted brands, Konga continues to set the standard for e-commerce in Nigeria.
To have a feel of Konga’s Naija Shopping Festival, visit www.konga.com today and make your Christmas shopping a joyful experience.
E-Business
TD Africa Joins Forces with Check Point to Enhance Cybersecurity in Nigeria
TD Africa, a leading technology distributor in Sub-Saharan Africa, has joined forces with Check Point Software Technologies Ltd., a global cybersecurity leader, to enhance Nigeria’s cybersecurity resilience.
This strategic partnership, announced at a partner roundtable event in Lagos and attended by industry executives, stakeholders, and IT professionals, facilitated discussions on emerging cybersecurity trends and fostered strategic partnerships.
Participants explored innovative approaches to digital security, concluding with a networking session designed to spark future collaborations and strengthen Nigeria’s digital ecosystem.
Abiodun Idowu, Assistant General Manager for TD Africa, highlighted the company’s dedication to delivering cutting-edge technology solutions, saying: “This partnership with Check Point reflects our commitment to providing advanced tools that safeguard businesses against today’s complex cyber threats.”
Check Point’s Security Manager, Victor Ugwu, who underscored the partnership’s significance in strengthening cybersecurity frameworks in Nigeria, said, “With this collaboration with TD Africa, we aim to deploy innovative solutions like Harmony and CloudGuard to protect organizations across the country.”
TD Africa now offers Check Point’s Harmony and Email Collaboration solutions, incorporating Secure Access Service Edge (SASE) technology to enable secure connectivity for remote and hybrid work environments.
Additionally, the partnership provides CloudGuard, an end-to-end cloud security solution, and Quantum Firewall appliances, which scale to meet the needs of businesses of all sizes.
This partnership reinforces TD Africa’s position as a driving force in Nigeria’s technological advancement. By delivering robust cybersecurity solutions, TD Africa empowers businesses to navigate the digital age with confidence and resilience.
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