E-Business
The Evolving Threat Landscape: Top Cybercrime Trends Organisations Should Take Note of in 2023
By Emmanuel Asika
The cyber threat landscape continued to evolve last year, with malevolent players joining forces more than ever before, exchanging access to networks and systems, sharing malware and sharpening their attack methods.
Such heightened collaboration, coupled with the low cost of malware – three-quarters of malware kits cost less than ₦7,000 – are further triggering cybercrime to be more accessible.
The implication being that more devices and end-users will be vulnerable to being under attack in 2023, and as cyber criminals intensify attempts to access enterprises – these systems, PCs and printers will be at the forefront.
These challenges, for cyber-security experts, will be intensified by the growing economic slump and uncertainties. As cybersecurity spending is set to increase by 13.2% in 2023, cost projections will be under critical observation, with emphasis on the most important cybersecurity demands.
With tough impending decisions, below are four cybersecurity trends that institutions must plan for in 2023:
- Increasing costs can prompt an inflow of cyber hustlers and money mules, powering the cybercrime economy and leaving users at risk
The increase in the cybercrime gig economy, with its swing to platform-based business models, has made cybercrime simpler, affordable, and more dynamic.
Cybercrime devices and mentoring services are readily available at low costs, luring cyber hustlers – adherents with little technical skill – to access needed information to make gains.
With an impending global downturn, easy access to cybercrime tools and skills could enhance the number of scam SMS messages and emails filling our inboxes.
Lured by the potential of quick money, there is a likelihood of seeing more recruits into money-muling schemes, unintentionally encouraging the cybercrime ecosystem as enablers of fraudulent transactions, money laundering, and perhaps ransoms payments.
The interrelated nature of the cybercrime gig economy means that threat actors can easily make money from email compromise attacks.
If they find a victim and succeed by compromising an enterprise device, they can market that access to bigger ransomware gangs. This gives structured groups of hackers more reach, hence feeding into the cybercrime ecosystem.
With increasing attacks against users, embedding security in all devices from the hardware will be significant to prevent, detect and recover from attacks.
Adopting a robust security culture is key for building resilience, however, only when combined with technology that decreases an organization’s attack interface. A whole group of threats can be eradicated without relying on detection by isolating risky activities like malicious emails.
Threat containment technologies in this case ensure that if a user opens a malicious link or attachment, the malware can’t infect any data. With this model, businesses reduce the propensity of malicious attacks and protect employee interests without compromising their workflows.
- Notorious hackers will invest in more attacks below the operating system.
Until recently, firmware attacks were only used by sophisticated threat groups and countries.
However, just last year, early signs revealed an increased interest and development of attacks below the operating system – from tools to hack BIOS passwords, to rootkits and trojans targeting device’s firmware. Today, we now see firmware rootkits advertised relatively cheaply on cybercrime marketplaces.
As one would expect, sophisticated threat actors are always looking to stay one step ahead in terms of their attack capabilities. Unfortunately, firmware security is frequently disregarded by organizations, giving room for adversaries to attack and exploit.
Access to the firmware level allows attackers to gain persistent control and hide below the operating system, making them very hard to detect – let alone remove and remediate.
As such, organizations and individuals must ensure they understand industry best practices and standards for device hardware and firmware security.
Additionally, organizations must further endeavour to understand and evaluate the latest technology readily available to protect, detect and recover from firmware attacks.
- Remote access equipment will be on the forefront for attacks
Session hijacking is anticipated. The year will witness a growth in popularity – where an attacker hijacks a remote access session to obtain an organisation’s sensitive data and systems.
The user is characteristically unsuspecting that anything malicious has happened and takes milliseconds to inject key sequences and issue commands that generate an alternative gateway for persistent access.
It works even if Privileged Access Management (PAM) systems employ Multi-Factor Authentication (MFA), such as smart cards.
When a malicious attack links to Operational Technology (OT) and Industrial Control Systems (ICS) running factories and industrial plants, there could also be a noticeable impact on operational readiness and safety – possibly cutting off access to energy or communication for entire areas.
The only way of preventing these kinds of attacks is breaking the attack chain and strong isolation technology, either through using a physically separate system, like a Privileged Access Workstation (PAW), or virtual separation, via hypervisor-based approaches.
- Neglect print security at your risk in 2023
Presently, print security is endangered by the constant tendency to be a neglected factor of the total cybersecurity environment and with more printers connected to corporate networks due to hybrid working, the risks keep increasing. Institutions need to structure security policies and processes for monitoring and protecting print gadgets from attacks, at home and in the workplace.
The challenge is the risk telemetry coming from end points, including printers, is growing by the day. Consequently, we will see institutions concentrate investments on solutions and services delivery that provide functional intelligence rather than merely delivering more security data.
Tackling increasing threats
This year, organisations must be intentional with their security approaches. Often, security glitches start at the endpoint, hence, by embedding protection in these devices, businesses can lessen the burden on their security unit.
Regardless of the threats institutions face in 2023, it is apparent that the tactics we deploy to protect devices and data has to change.
The key consideration here is strategic resource allocation, and the security teams need to recognise the specific areas of the business that are most susceptible to threats, and that would be most impacted in the event of a breach.
It is also vital to have a layered approach to security which will allow institutions to execute isolation, gain actionable intelligence, isolation and more, whilst helping to lessen their attack surface and maintain safety of key data.
Emmanuel Asika is Country Head for Nigeria, at HP
As the world gathers for the 2024 Paris Olympics, QNET, a global leader in wellness and lifestyle-focused direct selling, reaffirms its commitment to health and wellness with the Amezcua Bio Light 3 and Bio Disc 3.
The Olympics inspire millions of athletes worldwide to pursue fitness and wellness goals. Whether training for competitive sport or maintaining a healthy lifestyle, these innovative products enhance recovery, boost energy, and support overall well-being, bringing advanced sports technology to everyday fitness enthusiasts.
Enhanced Pain Relief with Amezcua Bio Light 3 and the Synergy with Bio Disc 3
The Amezcua Bio Light 3 is a non-invasive device that utilizes light therapy to target pain points directly. By combining the therapeutic effects of specific wavelengths of light, the Bio Light 3 helps to reduce inflammation, improve circulation, and accelerate the healing process.
The Olympic spirit is about inspiring individuals to achieve their highest potential and empowering them to overcome challenges. The Bio Light 3 and Bio Disc 3 provide tools for athletes and individuals to manage pain and maintain their health, enabling them to pursue their goals with greater resilience and determination.
According to the Journal of BioPhotonics, light therapy improves muscle performance and recovery, emphasizing its effectiveness in sports. The user-friendly design of the Bio Light 3 makes it an accessible option for those seeking a natural solution to pain relief.
This is particularly relevant as athletes and fitness enthusiasts, both professional and non-professional who have been inspired by Olympians to get fit, as they too can benefit from the advanced sports technology used by top athletes.
Complementing the Bio Light 3 is the Bio Disc 3, renowned for restructuring water molecules and enhancing energy levels. Together, these products offer a holistic approach to pain management, with the Bio Disc 3’s energy-balancing properties working in tandem with the Bio Light 3 to maximize pain relief and support overall health.
Trevor Kuna, Chief Marketing Officer of QNET, highlights their innovative approach: “Our goal at QNET is to provide products that significantly enhance the quality of life. The Amezcua Bio Light 3, paired with the Bio Disc 3, exemplifies our dedication to pioneering advanced wellness solutions.
“Inspired by the athletes of the 2024 Paris Olympics, this combination is transforming pain management, offering a safe, non-invasive, and effective alternative for professional athletes and fitness enthusiasts who are increasingly aware of the benefits of effective recovery and healing.”
Since its launch in 2010 over 100,000 units of the Bio Light have been sold and have positively impacted the lives of an estimated 250,000 customers worldwide. Saina Nehwal, an Olympic Badminton player highlighted that the Bio Light 3 had been supporting her rest and body’s recovery, especially after her knee surgery. She also said that the Bio the Bio Disc 3 helped her body feel cleansed.
Maria Gonzalez, an Independent Representative of QNET and an active long-distance runner, who has been using the products for several months, shares her experience: “The Bio Light 3 and Bio Disc 3 have been game-changers for me. My chronic pain from running and strength training has decreased noticeably, and I feel more energetic and balanced.”
As the 2024 Paris Olympics progresses, the Amezcua Bio Light and Bio Disc 3 by QNET are reshaping the landscape of pain management. By providing an innovative, non-invasive, and effective solution, QNET is helping individuals around the world lead healthier and more comfortable lives, ready to embrace the spirit of the Olympics with enhanced recovery and healing.
Chowdeck, on-demand delivery service in Nigeria, has announced an exclusive partnership with Chicken Republic, an established quick-service restaurant chain and franchise, that will enable enhanced quality, more affordable, delivery meals for its users in Lagos and Ibadan.
Chowdeck already provides logistics services for Chicken Republic in eight Nigerian cities, and this new agreement cements its position as the preferred delivery partner.
Leveraging Chowdeck’s advanced logistics and technology, customers in Lagos and Ibadan will benefit from lower delivery fees and enjoy some of the fairest prices online.
Additionally, the partnership will include periodic in-app special discount offerings and the opportunity to earn Chowscore points through Chowdeck’s loyalty program, further enhancing value and satisfaction for loyal customers. To kick off the partnership, Chowdeck users are being offered an exclusive N1000 meal deal.
Chicken Republic will now be able to serve a larger customer base, ensuring that more people can enjoy their delicious offerings.
This collaboration will drive increased daily sales and customer engagement while addressing the growing demand for online food delivery, projected to reach 52.0 million users by 2029. Customers can look forward to more efficient and reliable delivery, ensuring their meals arrive hot and fresh.
Commenting on the partnership, Femi Aluko, CEO and co-founder of Chowdeck said “This collaboration underscores our commitment to delivering high-quality, efficient, and convenient services.
“Combining our fast-growing delivery network with Chicken Republic’s exceptional offerings, we aim to enhance the customer experience and bring happiness to more individuals across Lagos and Ibadan.
Kofi Abunu, CEO of Food Concepts Plc, also said, “We are thrilled to deepen our partnership with Chowdeck. Their remarkable growth over the past year, combined with the forward-thinking approach of their team and their unwavering commitment to investing in partner development, leave us with no doubt that they are here for the long term and will successfully address the last-mile delivery challenge.
“Our loyal customers around the country, especially in Lagos and Ibadan, can look forward to an enhanced delivery experience with Chicken Republic on Chowdeck.”
Telecom, mass media, and construction development companies are the top cyberattack targets in the first half of 2024, reports Kaspersky. Telecoms faced the greatest number of incidents, likely due to attackers’ interest in sensitive data and trusted relationships exploitation.
In turn, mass media are traditionally targeted during international conflicts, while construction development firms may be also attractive for threat actors due to their extensive subcontractor use.
In the global telecommunications sector, there were 284 cybersecurity incidents per 10,000 systems, according to Kaspersky Managed Detection and Response (MDR) statistics for January-June 2024. Mass media companies experienced 180 attacks per 10,000 systems, while the construction development, food and industrial sectors followed with 179, 122 and 121 incidents, respectively.
“A successful attack, especially an advanced one, on a telecoms company can expose millions of customers’ records, including contact details, social security numbers, and credit card information.
“It can also serve as a possible springboard for further attacks on clients through trusted relationship exploitation. That’s why this sector is so attractive for cybercriminals. The mass media organisations become an increasingly frequent target during international conflicts, which are often characterised by information warfare in which they play a crucial role.
“The construction development firms, in turn, have significant cash flows and rely on subcontractors, making them vulnerable to attacks via trusted partners’ infrastructures and spear phishing,” explained Sergey Soldatov, head of Kaspersky Managed Detection and Response.
Telecommunication companies also faced the highest average number of critical incidents, with 32 attacks per 10,000 systems. “Critical incidents are human-driven attacks or malware threats that have a potential or actual significant impact on the company’s infrastructure,” explained Soldatov.
The IT industry follows with nearly 12 average critical incidents, while government sector experienced 8 average critical incidents in the first half of 2024.
Globally, the number of cyber incidents has remained relatively stable, with a slight decrease. Organisations tend to strengthen their cybersecurity measures after the spike in attacks in 2021-2022. Enhanced approaches such as vulnerability assessments and penetration tests have improved overall security.
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