General News
Beware! Internet of ‘Threats’ 2015 Loading
As F5 Networks puts it, “Promiscuous sharing of personal information is putting identity data at greater risk than ever”, a series of stunning cyberattacks drew headlines in 2014, and the situation will only worsen in 2015 as hackers use more advanced techniques to infiltrate networks, security researchers have revealed.
McAfee Labs’ 2015 Threats Predictions report sees increased cyber-warfare and espionage, along with new strategies from hackers to hide their tracks and steal sensitive data.
According to the report, “Cyber espionage attacks will continue to increase in frequency.
“Long-term players will become stealthier information gatherers, while newcomers will look for ways to steal money and disrupt their adversaries.”
McAfee said small nations and terror groups will become even more active and will “attack by launching crippling distributed denial of service attacks or using malware that wipes the master boot record to destroy their enemies’ networks.”
At the same time, cybercriminals will use better methods to remain hidden on a victim’s network, to carry out long-term theft of data without being detected, the researchers said.
“In this way, criminals are beginning to look and act more like sophisticated nation-state cyberespionage actors, who watch and wait to gather intelligence,” the report said.
The report also said hackers are looking to target more connected devices, including computers in the farming, manufacturing, and health care sectors.
“The number and variety of devices in the Internet of Things (IoT) family is growing exponentially. In the consumer space, they are now seen in appliances, automobiles, home automation, and even light bulbs,” McAfee said.
Meanwhile, many of the concerns relating to the theft of healthcare data arise from the increasing availability of health-tracking wearables.
In the health care hacks, McAfee said it is already seeing hackers targeting devices such as webcams with weak security and industrial control systems. But it sees health care as an especially worrisome sector.
“With the increasing proliferation of healthcare IoT devices and their use in hospitals, the threat of the loss of information contained on those devices becomes increasingly likely,” the report said.
McAfee noted that other threats will also grow, including “ransomware,” which locks down data and forces the victim to pay a ransom to retrieve it, and attacks on mobile phone operating systems.
In the retail sector, digital payments may cut the risk of credit-card skimmers, but hackers may be able to exploit wireless systems such as Bluetooth and near field communications (NFC) used for mobile payments.
“With consumers now sending payment information over a protocol with known vulnerabilities, it is highly likely that attacks on this infrastructure will emerge in 2015,” the report said.
The report comes in the wake of news about large-scale cyberattacks that have been linked to Russia or China, and a major infiltration of Sony Pictures which stole massive amounts of data.
In retail, Home Depot and others have reported data breaches affecting millions of customers.
“The year 2014 will be remembered as the year of shaken trust,” said Vincent Weafer, senior vice president at Intel-owned McAfee.
“Restoring trust in 2015 will require stronger industry collaboration, new standards for a new threat landscape, and new security postures that shrink time-to-detection.”
Still on health care hack, Keith Bird, Checkpoint’s UK MD cautions that, “As more IP-based appliances are introduced into the workplace and home environments, enabling a better-connected, more efficient world, it also gives criminals a better connected, more efficient network for launching attacks.”
WatchGuard’s Corey Nachreiner, however, took the opposite stance: “Embedded computing devices (IoT or IoE) are everywhere and have security flaws. But today’s cyber-criminals typically don’t just hack for the heck of it; they need motive. There’s not much value to having control of your watch or TV at this point.”
Whether or not fears about the IoT amount to doom-mongering at this point will only be apparent with the benefit of hindsight, but one relatively new tech trend that still represents fertile ground for hackers is mobile devices, particularly given their increased use as payment mechanisms.
Also, Alexander Gostev, Kaspersky Lab’s chief security expert, said that the increasing adoption of Apple Pay “will inevitably attract many cyber-criminals looking to reap the rewards of these transactions.”
General News
FlashChange Partners Ruth Foundation to Empower Vulnerable Children in Alimosho with Skill Acquisition
In an inspiring initiative to uplift the next generation, FlashChange and Ruth Foundation have successfully implemented the “Orphanage Skill Acquisition Assembly 2.0 program,” a skills empowerment program for vulnerable children in Alimosho, Local Government Area of Lagos state.
The five-day programme, which began on Monday, April 14, was created to equip vulnerable children aged 4 to 18 years with essential life skills such as financial literacy, fashion design, photography, creative arts, cooking, and leadership development
Speaking at the closing ceremony of this year’s edition of the programme, the Chief Operating Officer, Flashchange, Olamide Ajibola said, “We are delighted to be part of this life-changing initiative.
“At FlashChange, we believe that children are the heartbeat of every community, by investing in their development today, we are not just shaping the future of individuals but nurturing future leaders, creators, and change-makers that would make a positive contribution to the growth and development of the society in the near future.”
“Initiatives of this nature gladdens our heart and we are open and willing to participate in them at any time. In the coming months, we hope to do more in that area as our own little way of improving society. This is in line with our CSR pillars, which include human capital development.”
Ajibola appreciated the benefitting children for accepting to be part of the life changing training which has the capacity to catapult them to a brighter future. The facilitators were also commended for impacting the children with the skills and knowledge to help shape their lives.
The founder Ruth Foundation, Itunuoluwa Ruth Da-Silva, in her remarks, expressed the foundation’s deepest appreciation to partnering organizations like FlashChange for believing in the vision and throwing their full weight behind it.
She said, “It will interest you to know that 153 vulnerable children benefitted from the Orphanage Skill Acquisition Assembly 2.0 programme and the training ran simultaneously at Compassionate Orphanage home; Precious Pearl Orphanage; Little Saints Orphanage and House of Mercy Orphanage respectively. Providing the children access to knowledge and skills early in life to create a ripple effect that can transform the entire community.”
The Chief Marketing Officer, FlashChange Jesujoba Ojelabi commended Ruth foundation for the initiative and urged the children to take the skills learnt seriously, as it has the capacity to change their lives for good.
He said, “As a company, we would be proud to lend our support to the foundation whenever we are called upon to do so in the future. My candid advice to you children would be this, to be great ambassadors of this initiative, you need to continuously put to practice the skills and knowledge you have acquired from the programme. We are indeed proud of you all and the success stories recorded so far.”
To support the continuous development of the children the following items were donated; electric sewing machine, cake mixer; packs of Yeye yarn, packs of pins, some stitch markers, scissors, measuring scale, make-up kit box filled with make-up tools among several others.
FlashChange and Ruth Foundation therefore urge community leaders, government organizations, private sector partners, and stakeholders to support programmes of this nature aimed at equipping children with the skills they need to thrive in a world that is evolving quickly.
Economic and Financial Crimes Commission, EFCC, has dismissed the claims that the defunct digital asset trading platform, CBEX, was registered with its Special Control Unit against Money Laundering, SCUML.
However, EFCC stated that ST Technologies and not CBEX registered with SCUML, saying that the certificate didn’t imply clearance by the Commission.
The clarification comes after Lesley Kessy Oviritsa, one of the victims of the CBEX Ponzi Scheme said she fell prey to CBEX after seeing and verifying its CAC and SCUML Certificate.
Oviritsa claimed they had no reason to suspect foul play, especially since they claimed their SEC certificate would be ready by May 2025.
Nigeria CommunicationsWeek reported how CBEX swept over N1.3 trillion from their investors’ accounts.
In a post on its official handle on X on Monday, EFCC said the Commission is not a clearing house or regulatory authority of online businesses.
The post read: “SCUML Certificate Is Not CLEARANCE BY EFCC.
“ST Technologies (not CBEX) registered with the Special Control Unit against Money Laundering, SCUML in line with Section 17 of the Money Laundering, (Prevention & Prohibition) Act, 2022.
“Registration is a statutory requirement for all Designated Non-Financial Businesses and Professions, DNFBPs, in Nigeria in consonance with Nigeria’s Anti-Money Laundering/ Control of Financing Terrorism, AML/CFT regime.
“The EFCC is not a clearing house or regulatory authority of online businesses.
“But financial fraud of any kind is the remit of the Commission, and it is committed to ensuring justice for victims of the CBEX scam.”
MoMo PSB, a subsidiary of MTN Nigeria and a leading provider of digital financial services, has unveiled its Customer Refer & Win Promo, an exciting initiative aimed at rewarding loyal customers with free airtime or data for life.
This campaign underscores MoMo PSB’s commitment to advancing financial inclusion and enhancing the digital banking experience for millions of Nigerians.
The promo offers customers the chance to win incredible prizes, including free airtime or data every month for 50 years for 11 lucky winners, and consolation prizes for 110 winners who will receive airtime or data every month for one year.
Open to both new and existing customers, the initiative encourages participants to perform qualifying transactions and refer friends and family to activate or reactivate their accounts.
Phrase Lubega, CEO of MoMo PSB, emphasized the company’s dedication to customer satisfaction and seamless financial transactions. “This initiative is about giving back to our customers while promoting the ease and convenience of using MoMo for everyday transactions.
“By simply transacting on the platform, customers get the chance to enjoy free airtime and data for life, an offer that truly rewards their loyalty,” he said.
To participate, customers must complete eligible transactions such as MoMo-to-MoMo transfers, other bank transfers, bill payments, betting wallet top-ups, and airtime/data purchases.
Referrals also earn participants an instant 100MB for every active referral. Weekly electronic draws will determine winners, with the promo running for 12 weeks from April 3rd to June 25th, 2025.
MoMo PSB will also engage users through nationwide activations, interactive sessions, and digital campaigns to drive awareness and participation.
This initiative further solidifies MoMo PSB’s role as a key player in Nigeria’s financial services sector, offering innovative solutions that simplify transactions and enhance customer satisfaction.
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