Connect with us

News

Daily Number of Human-driven Cyber Incidents Increased by 1.5 times in 2022

Published

on

Kindly share this post

Research based on the analysis of incidents reported to customers of Kaspersky Managed Detection and Response (MDR) has revealed that Security Operations Center (SOC) analysts discovered more than three high-severity incidents with direct human involvement every day in 2022.

The efficiency external specialists provided while dealing with cybersecurity solutions and requirements of special knowledges were the main reasons for the companies to outsource external experts in 2022.

To address the lack of gaps in expertise among IT Security professionals and provide them with insights on the current threat landscape, Kaspersky analysed anonymised customer incidents detected by its MDR service.

Kaspersky’s annual Managed Detection and Response Analyst Report¹ showed the high-severity incidents required an average 43.8 minutes to be detected by Kaspersky MDR². Due to an increase in human-driven attacks this processing time grew by approximately 6% compared to the previous year, as they take up more of SOC analyst time.

Regarding the nature of such incidents, 30% of them were associated with APTsᵌ, 26% accounted for malware attacks, and just over 19% resulted from “ethical hacking” (pentests, red teaming or any other types of cyber exercises conducted in customers’ infrastructures either for the security assessment of IT systems or to test the operational readiness of the MDR service).

The proportion of incidents involving publicly available critical vulnerabilities and the detection of traces of previous attacks involving humans was around 9%. The remaining incidents resulted from the successful use of social engineering techniques or were linked to insider threats.

“The MDR report shows that sophisticated attacks driven by humans continue to grow. They require more resources to be investigated and they take up more of SOC analyst time as this type of attack lends itself to automation to a lesser degree.

“To detect these attacks efficiently we recommend companies to implement comprehensive threat hunting practices combined with classic alert monitoring,” comments Sergey Soldatov, Head of Security Operations Center, Kaspersky.


Kindly share this post

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

News

NAICOM Sacks African Alliance Insurance Board

Published

on

Kindly share this post

The National Insurance Commission, (NAICOM), on Wednesday, sacked the board of African Alliance Insurance Plc with effect from October 30, 2024.

The Commissioner for Insurance, Mr. Segun Omosehin, disclosed this during a press conference in its Lagos office, that an interim board and management have be appointed.

The new interim board are: Dr Haruna Mustafar, a former director at Central Bank of Nigeria; Anthony Achebe – Non-Executive and Haj. Halimatu M. Khabeeb – Non-Executive Director.

The management team is led by former Managing Director of International Energy Insurance and Cornerstone Insurance Plc, Jacob Erabor, as Managing Director/ CEO; Wasiu Amao – Executive Director, Technical and Ms. Oremeyi Longe – Executive Director, Finance.

He noted that the interim management has up to one year to turn around the company.

He said the decision follows an extensive monitoring and review of the company’s financial condition, governance, and operational practices, which revealed significant concerns regarding its ability to continue operating in a safe and sound manner which has for some time now generated a lot of uncertainty over claims settlement and payment to annuitants under the company.

The Interim Management Board, according to him will oversee the company’s operations, ensure compliance with regulatory requirements, and implement necessary reforms.

While noting that the Commission will work closely with all stakeholders, including annuitants, policyholders, employees, and investors, to minimise disruption and ensure continuity.

”The objective of this takeover is to protect the interests of African Alliance Insurance Plc’s annuitants, policyholders, other stakeholders, and the broader insurance industry while ensuring the company’s return to stability and compliance.

“The Commission is committed to maintaining the stability and integrity of the Nigerian insurance industry. Our actions today demonstrate our resolve to address concerns and protect the annuitants, policyholders and public interest.”

 


Kindly share this post
Continue Reading

News

EFCC Arrests 4 Suspected Bank Hackers in Abuja

Published

on

Kindly share this post

Economic and Financial Crimes Commission (EFCC) has arrested four suspected bank hackers in Abuja for alleged conspiracy, unauthorized access to banks’ computer systems and fraudulent withdrawal of depositors’ funds.

EFCC Arrests 4 Suspected Bank Hackers in Abuja

The suspects are Chima Anthony Nwigwe, suspected leader of the hacking syndicate alongside three others: Effiong Victor Emmanuel, Mohammed Bello Mahmud, the managing director, Downstone Ultimate Limited, and Daminan Ali.

Dele Oyewale, spokesperson, EFCC, said in a statement on Tuesday, that the suspects were arrested in a sting operation in Abuja following actionable intelligence about their suspected involvement in hacking, compromising databases of commercial banks, thereby causing fraudulent transfers and withdrawals through different digital platforms.

He also noted that the suspects would be charged to court upon conclusion of investigations.

 

 

 


Kindly share this post
Continue Reading

News

PalmPay Recognized for Driving Financial Inclusion @ BrandCom Awards

Published

on

Kindly share this post

PalmPay, Nigeria’s  fintech platform, was awarded the Most Outstanding Fintech Driving Financial Inclusion at the prestigious BrandCom Awards 2024, held on October 26th.

The award, presented by Brand Communicator, celebrates Palmpay’s remarkable contribution to expanding financial inclusion across Nigeria.

The recognition from Brand Communicator reflects PalmPay’s commitment to bridging financial gaps and expanding access to reliable financial services for millions of Nigerians.. Since its launch in 2019, PalmPay has prioritized empowering underserved communities with innovative tools that enable seamless transactions.

“At PalmPay, we believe financial inclusion is the foundation for economic empowerment, and we’re dedicated to ensuring that every Nigerian has access to secure, user-friendly, and reliable financial services,” said Hanson Femi, Head of Marketing and Communications at PalmPay.

“This award highlights the collective efforts of our team and partners who work tirelessly to make financial services more accessible to underserved communities across the country.”

PalmPay’s broad suite of digital offerings, includes instant transfers, bill payments, and its newly launched USSD feature, which is designed to make banking easily accessible to all.

Today, PalmPay’s app serves over 35 million users and connects 1.2 million businesses through its network of mobile money agents and merchants, cementing its role as a leader in the Nigerian fintech ecosystem.

With operations in Nigeria, Ghana, Tanzania, Kenya, and key international hubs like London, Hong Kong, Hangzhou, and Shenzhen, PalmPay is continually expanding its reach and impact.

 


Kindly share this post
Continue Reading

Trending