E-Business
Cashless Regime: Experts Warn of Dangers of Storage, Ring Solution
Data experts have painted a gloomy outlook for financial institutions and IT firms in the country in view of the expected explosion in information generation in the current cashless regime urging for a simplified storage facility, Nigeria CommunicationsWeek has learnt. The experts who gathered at the recent Storage Optimization Summit organized by Computer Warehouse Group (CWG) in conjunction with the International Business Machines Corporation (IBM) x-rayed a range of storage enhancement innovations pioneered through their synergy. The innovations according to them can underpin the Central Bank of Nigeria (CBN’s) policy on cashless economy by compressing information and reducing costs. Nigeria CommunicationsWeek gathered that statistically, information storage requirements grow between 20-40 per cent annually and may expand to 80 per cent. In the cashless regime, financial institutions may come out worse off because of dearth of simplified storage structures. Oluwaseyi Obiyemi, client technical specialist, IBM West Africa, said that smarter systems are creating information explosion currently in Zettabytes, citing that companies that budgeted one to five per cent for storage facilities are presently struggling to maintain the tempo with attendant costs. The client technical specialist, stated that IBM’s $500 million splash on research and development annually has been yielding positive results in terms of a range of apparatus it produced to contain the looming danger of data loss by companies. He said: “Very few banks have good back up solution recovery of data; that is, their backs up automated machines are not optimally perfect. Basically, big organizations that don’t attach much importance to data might not really know the harm. However, IBM solutions are cost effective technologies meant for data compression and duplications. “In other words, we are looking at companies having the right information at the right places, while managing space. Through automated tiering, automated data migration, banks can store more with what is on the floor by virtualization and thin provisioning. This will save the corporate bodies some stress, litigation and loss of valuable data”. Obiyemi said Obiyemi added that IBM’s Storwize V7000 can help corporate bodies simplify complex IT infrastructure, particularly to lower ongoing costs, improve flexibility and reduce demands on technical staff. Nodding in agreement, Emeka Udaya, storage business development manager, Tri-Continental Ltd, said that the challenges of data protection spurred by data growth in the last few months has exposed the incapacity of storage facilities, that take longer time to back up. He said that “Apart from that, some companies thought they could maneuver the situation by acquiring more storage facilities like disks, but they end up in higher service land requirements (spaces for the facilities). “And the need to keep data intact could be envisaged in the banks merger and acquisition that deal, particularly with existing data; security challenges; remote or branch offices operation and back up on silos-the cost of managing tapes attached to servers are increasing by the day,” he added. Udaya mentioned a number of solutions the synergy between Computer Warehouse Group and IBM have introduced under Trivoli Storage Manpower to include, TSM Server products, Bare Machine Recovery; Desktop/Laptop; Application protection and Space management archiving. Earlier, Dayo Abegunde, general manager, CWL Systems; a subsidiary of CWG, said with evolving delivery models, the IT industry is changing, particularly for the banking sector that is engaged in outsourcing, low head count, managed service. Meanwhile, “Delivery requirements must be demonstrated with better or enhanced platform.” Abegunde, who represented the Austin Okere, group chief executive officer, Computer Warehouse Group, noted that although the resources spent on IT by organization has continued to grow, however, ‘keeping the Light On, demands strategizing. He said that CWG in collaboration with IBM, a renowned leader and pioneer in the IT industry, organized the summit geared towards educating their customers on how to achieve better storage utilization and sharing of data across servers’ clients while helping to lower the risks and costs associated with the installation of a SAN solution. He said this will bring about, “Lower lifecycle costs thanks to innovative storage architectures that lower both capital and operational expenses; virtualized storage in order to reduce skills requirement; easy tie-ring to match value of data to the cost of the storage system and improved data storage to reduce costs and boost efficiency.”
E-Business
Kaspersky Contributes to Joint INTERPOL-AFRIPOL Operation Combating Cybercrime Across Africa
Kaspersky has recently assisted its partner law enforcement agencies INTERPOL and AFRIPOL in a joint effort to disrupt cybercrime across the African region.
Dubbed “Serengeti,” the operation has led to the arrest of more than 1,000 individuals suspected of links to cybercrimes such as ransomware operation and business email compromise (BEC) attacks, resulting in nearly US $193 million in financial losses worldwide.
As Africa is going through a rapid digitisation, the threat of cybercrime on the continent is also escalating. In the African region in general and West Africa in particular, ransomware emerges as one of the most prominent attack vectors, targeting critical infrastructure, financial institutions, and manufacturing facilities, among others.
During the first 10 months of 2024, ransomware detections in West Africa surged by 36% year-on-year, according to Kaspersky data. Other noticeable cyberthreats targeting users and organisations in the region include spyware and password stealers.
Conducted from September 2 to October 31, operation Serengeti dismantled 134,089 malicious infrastructures and networks linked to cybercrimes including ransomware operations, BEC attacks, digital extortion and online scams — all identified as prominent threats in INTERPOL’s 2024 Africa Cyber Threat Assessment Report.
Kaspersky has contributed to the operation by sharing information on threat actors, data on ransomware attacks and malware targeting the region, as well as up-to-date indicators of compromise (IoCs) for malicious infrastructure across Africa.
Among the malware targeting African countries was also a well-known Brazilian banking trojan Grandoreiro – Kaspersky recently released new findings on this trojan at its Security Analyst Summit. Additionally, ransomware families detected in attacks on African organisations among others included LockBit, Rhysida, and Medusa.
The operation has also resulted in the identification of more than 35,000 victims of cyber offenses investigated.
Valdecy Urquiza, Secretary General of INTERPOL, said: “From multi-level marketing scams to credit card fraud on an industrial scale, the increasing volume and sophistication of cybercrime attacks is of serious concern.
Operation Serengeti shows what we can achieve by working together, and these arrests alone will save countless potential future victims from real personal and financial pain. We know that this is just the tip of the iceberg, which is why we will continue targeting these criminal groups worldwide.”
Ambassador Jalel Chelba, AFRIPOL’s Acting Executive Director said: “Through Serengeti, AFRIPOL has significantly enhanced support for law enforcement in African Union Member States. We’ve facilitated key arrests and deepened insights into cybercrime trends. Our focus now includes emerging threats like AI-driven malware and advanced attack techniques.”
“We are proud to contribute to this multi-stakeholder operation orchestrated by INTERPOL and AFRIPOL,” comments Yuliya Shlychkova, Vice President, Global Public Affairs, Kaspersky. “The emerging dynamics of the threat landscape in Africa requires a stronger regional dialogue on mitigating acute cybersecurity risks.
Kaspersky firmly supports INTERPOL’s and AFRIPOL’s efforts to prevent and disrupt cybercrime attacks across Africa and shares the holistic approach towards creating a more cyber-resilient environment within the continent.”
Thanks to the cooperation with INTERPOL and AFRIPOL, Kaspersky has been an active contributor to fostering a more cyber-savvy environment in the African region.
In addition to the vast record of joint operations in Africa, with the latest being INTERPOL-led operation Synergia II, Kaspersky has recently sealed a five-year cooperation agreement with AFRIPOL to further strengthen its role in creating a more cybersafe climate on the continent by sharing Kaspersky’s extensive data on local cyberthreats and cybercrime trends with the organisation.
E-Business
NITDA Alerts Nigerians on Cybersecurity Risks Linked to Spotify
National Information Technology Development Agency (NITDA) has issued a public alert warning Nigerians about a cybersecurity threat involving the use of Spotify to promote malicious activities.
The agency, in a public notice issued on Tuesday, disclosed that threat actors are exploiting the popular music streaming platform to advertise game hacks, pirated software, and spam links that could expose users to cyber threats.
According to NITDA, cybercriminals embed malicious promotions in playlist names and podcast descriptions on Spotify, explaining that these promotions are used to advertise game hacks for popular video games such as Fortnite, GTA, Apex, and Roblox. Additionally.
They also promote pirated software (commonly referred to as ‘cracks’), spam links, and other malicious sites.
This abuse is said to leverage Spotify’s web player results to improve the search engine visibility of these harmful websites, putting unsuspecting users at risk of malware, scams, and other cyber threats.
NITDA warned that the exploitation of Spotify could lead to exposure to scams and phishing attacks, downloading of malware that can compromise user devices and Loss of personal and financial data through interactions with malicious websites.
To manage the risks, NITDA advised users to exercise Caution with suspicious playlists and podcasts and avoid engaging with playlists or podcasts that feature unusual or suspicious text in their descriptions.
It also warned users not to click Unknown Links, and also ensure the Spotify app is updated to the latest version to minimise vulnerabilities.
The agency further advised Spotify users in Nigeria to remain vigilant and adhere to cybersecurity best practices to safeguard their personal information and devices.
According to the agency, the websites posing as OpenAI’s popular AI, ChatGPT, are tricking users into downloading malicious files or software to their devices.
E-Business
Konga Yakata’s Last Week: Don’t Miss Out on Incredible Deals
Excitement is reaching a fever pitch among shoppers as the Konga Yakata Black Friday shopping fiesta enters its final week. Shoppers nationwide are gearing up for a rain of last-minute deals and irresistible offers, with the promotion set to end on Saturday, November 30, 2024.
The month-long Konga Yakata campaign, which kicked off on Friday, November 1, has delivered an unparalleled shopping experience, treating customers to incredible discounts, engaging promos, and unbeatable incentives.
In addition to massive price cuts across a wide range of products, Konga has thrilled shoppers with exciting events such as Treasure Hunts, Flash Sales, Bargain Bash, Brand Days, and specialized Black Friday packages like the Budget Store, Under 50k Store, and TGIF Epic Drop.
The highlight of the Yakata 2024 season will be this year’s Black Friday, which takes place on Friday, November 29. Thousands of customers will be able to score exclusive discounts on items including electronics, clothes, home appliances, computers, and groceries.
Reflecting on the experience so far, a satisfied anonymous shopper who snagged a TV at a discounted rate said, “Konga Yakata has been nothing short of amazing this year. The discounts are unbelievable but true, and the convenience of shopping online is unmatched.
“I’ve already made several purchases, and I’m excited to see what other deals are in store for the final week.”
Konga’s Black Friday sale has been a boon for consumers, offering respite from the economic challenges many Nigerians face. By providing access to affordable products and services, Konga has empowered shoppers to make the most of their money.
Despite the prevailing economic challenges, shoppers have embraced the Yakata season, targeting high-value deals and leveraging Konga’s tailored offerings to make significant savings. With the countdown underway, the excitement is expected to hit its peak on Friday as customers traditionally wait for that day to grab the most exclusive deals.
Speaking on the heightened anticipation, Kunle Ajani, Group Head of Marketing at Konga, stated, “We’re thrilled with the overwhelming response to Konga Yakata this year, and we’re committed to ensuring the final week delivers the biggest surprises yet.
“We are proud to offer a platform where shoppers can enjoy exceptional value, despite the economic realities.”
As the curtain closes on the 2024 Yakata season, shoppers can look forward to a flurry of last-minute deals, culminating at midnight on November 30. From tech enthusiasts to lovers of electronics and deal hunters, Konga Yakata continues to redefine the shopping experience, making it a season to remember for all Nigerians.
Take advantage of the final week of Konga Yakata. Visit Konga.com and experience the thrill of shopping at unbeatable prices.
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