News
Check Point Software Reveals Cyber Threats to Online Gamers
World Video Game Day celebrates a market that continues to grow in both revenue and participants.
Although gaming started as a single-player activity, most now involve multiple players with an online community that is able to talk and interact with each other through headsets or send instant messages during the games.
Online gaming flourished especially during the global COVID lockdowns, as online gaming provided a much- needed outlet for entertainment and social interaction, with hundreds of thousands new accounts created and new communities born.
This was obviously a boon to would-be hackers, with an estimated 1 billion online gamers worldwide in 2020, with China, South Korea, and Japan having the biggest online gaming reach amongst the population according to Statistic. They estimate that by 2025, online gaming audiences are projected to surpass 1.3 billion.
Check Point® Software Technologies, a provider of cybersecurity solutions globally, warns that now that gaming is one of the world’s largest entertainment industries, it is also one of the major targets of cybercriminals. Companies in the gaming industry that have fallen victim to cyberattack include CD Projekt Red, Electronic Arts and Ubisoft.
This is because gamers often hand over as much personal information to companies in this industry as they would to their employer, bank or when online shopping.
There are a few different reasons why a cybercriminal targets gamers:
- To sell your virtual assets for real-world money – Cybercriminals will often breach gamers’ accounts and steal their virtual goods in order to then sell them to other users for real-world money.
In many ways, video game economies have essentially been the forerunners of cryptocurrencies. It should always be kept in mind that the virtual money earned in a game cannot be used in the real world, but it has a value to gamers and be traded.
- To steal games from your inventory – Many games are published, sold and authenticated online via platforms such as Steam, Origin and GOG Galaxy. CPR reported on a major vulnerabilities in popular Valve games networking library, which if exploited could take over hundreds of thousands of computers without needing users to click on phishing emails, as victims will be affected by simply logging onto the game.
People will typically manage all of their purchases from a single account, and long-term users are known to have libraries with hundreds of games. Cybercriminals will sometimes hack into accounts to steal some of these games for their own use.
- To gain as much information about you as possible for identify theft and bank fraud – With online transactions and monthly subscriptions, there is a lot of financial information at play, which is attractive to cybercriminals. Sometimes they can even track information as sensitive as your location or listen into phone calls in the case of a mobile game.
So, how can you stay protected? Here are three key tips from Check Point Software:
- Use two-factor authentication (2FA): Many games make it easy for attackers to do their job; often, simply looking at another participant will reveal their username. For example, Battlefield 5 has a competitive mode for up to 64 players, meaning that a single game provides a cybercriminal with up to 63 usernames with which to test common or default passwords.
It’s important to have two-factor authentication enabled – when a separate code is required if logging in from a new device – to keep accounts secure.
- Beware of phishing: Phishing campaigns frequently target users of popular games. A common tactic used by cybercriminals is to create a fake login page, or to impersonate a friend and attempt to send malicious links via chat platforms.
The shared interest in video games lends credibility and builds trust. Make sure to look out for anything that doesn’t look right and never click on any links.
- Beware of ‘too good to be true’ promises: In this world, malware propagation vectors often coincide with phishing methods. If Steam chat can be used to spread links to fake authentication pages, it can certainly be used to send links to unintentional or ‘drive-by’ malware downloads.
In the case of competitive gaming, many players can be convinced to willingly download malicious applications that promise ‘cheats’, hacks or other ways to gain advantage over other users.
You need to be aware of any such offers and only download applications from official app stores. Add to this the risk of malware managing to spread to devices connected to a corporate network, and the danger is much higher.
“Video games are an open door for many types of cyberattacks and taking extreme precautions is no longer an option but a necessity. Having two-factor authentication to access the account, installing protection software or knowing the signs of a phishing attack are key to avoid becoming the next victim.
“Online games are becoming more and more popular and by using them on a daily basis, it is very easy to let your guard down and become overconfident. The main problem is that cybercriminals are always alert and will not miss an opportunity to strike,” says Pankaj Bhula: Check Point’s EMEA Regional Director: Africa.
National Orientation Agency (NOA) has revealed that an investigation by its Community Orientation and Mobilisation Officers (COMO) uncovered unethical practices by some tertiary institutions, in collaboration with certain banks, that are depriving students of their rightful access to the Federal Government Student Loan Fund.
Paul Odenyi, deputy director of Communications and Media, in a statement Sunday, disclosed that several universities and financial institutions have been found engaging in fraudulent activities that prevent students from receiving the loans allocated to them.
Mallam Lanre Issa-Onilu, director general, NOA, shared these troubling findings following a high-level meeting with Mr. Akintunde Sawyerr, managing director, Nigeria Education Loan Fund (NELFUND), over the weekend.
According to NOA, preliminary reports led to an urgent intervention from NELFUND after it was discovered that some university officials had deliberately withheld critical details about student loan disbursements.
Further feedback from NOA confirmed that certain institutions, in collusion with banks, have intentionally delayed payments to approved applicants for dubious financial gain.
Additionally, some universities do not acknowledge the disbursements made by NELFUND to students.
Sawyerr confirmed that certain institutions have withheld information about loan payments issued in students’ names while still demanding tuition fees from them.
He warned that NELFUND is ready to take legal action against institutions found guilty of engaging in fraudulent practices.
He stated, “Recent findings by NELFUND have shown that some institutions have received student loan disbursements directly into their accounts yet neglect to inform the affected students or record the payments in their financial records, leading to unnecessary confusion.
“Withholding critical financial information from students is not only unethical but also a breach of the principles on which NELFUND was founded.
“We are prepared to take legal action against any institution engaged in such deceptive practices.”
The investigation revealed that in some instances, universities continued to demand full tuition payments from students, despite having already received the loan funds intended to cover those fees.
According to the NOA, this constitutes a gross violation of student rights and a betrayal of public trust.
Issa-Onilu, therefore, issued a strong warning to the institutions and collaborating financial institutions, demanding an immediate end to these actions.
He also directed all NOA state directorates to intensify feedback collection from students nationwide to aid the Federal Government in identifying and penalising the erring parties.
The NOA emphasised its commitment to transparency, accountability, and ensuring that students benefit fully from the government’s intervention in education financing.
The statement added that the investigation remains ongoing, and further actions are expected in the coming weeks.
Central Bank of Nigeria (CBN) has announced a remarkable $6.83 billion balance of payments surplus for 2024, marking a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022.
This achievement reflects the impact of sweeping macroeconomic reforms, stronger trade dynamics, and renewed investor confidence in the nation’s economic direction.
Speaking at the 36th Enugu International Trade Fair, Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, highlighted the CBN’s commitment to addressing economic challenges and fostering productivity, particularly for SMEs.
She emphasized the importance of robust financial systems, foreign exchange stability, and collaboration between monetary and fiscal authorities in achieving industrial development and global recognition.
The President of the Enugu Chamber of Commerce, Sir Odeiga Jideonwo, commended the CBN’s efforts but expressed concerns over the recent hike in interest rates, cautioning that it could hinder access to credit for businesses.
This surplus signals a positive trajectory for Nigeria’s economy, benefiting investors, businesses, and citizens alike.
News
Senate Committee Partners with Kuda Bank to Tackle Compliance Crisis as Nigeria Loses ₦3.4 Trillion
Over ₦3.4 trillion in financial infractions were uncovered across federal Ministries, Departments, and Agencies (MDAs) in 2021, according to the Auditor General’s report — a staggering figure that highlights Nigeria’s deepening compliance crisis and the urgent need for stronger oversight in public institutions.
In response, the Senate Committee on Legislative Compliance is hosting a high-level workshop to address the root causes of weak oversight and institutional gaps. The two-day event, with the theme ‘Consolidating Strategies for Strengthening Legislative Compliance by MDAs’, will take place on April 15 and 16, 2025 at NAF Suites, Abuja, bringing together lawmakers, regulators, and over two hundred representatives from federal MDAs.
Kuda Microfinance Bank is co-sponsoring the workshop as part of its commitment to supporting responsible innovation, governance, and regulatory alignment in Nigeria’s financial ecosystem.
Rasaq Kadri, Kuda’s Head of Compliance, will deliver a keynote address on the second day of the event, highlighting the efforts of Nigeria’s fintechs to promote inclusion and financial literacy without compromising on compliance best practices.
“When public funds go unaccounted for, it doesn’t just damage government credibility, it affects the entire financial ecosystem, including fintechs,” said Kadri. “We can’t build trust-driven products in a trust-deficient environment. Every time compliance is treated as a box-ticking exercise, we miss the chance to build something that lasts. Fintechs have the tools and perspective to support better governance, but more importantly, we have a responsibility to be part of the solution.”
As a sponsor, Kuda will take the workshop to engage directly with key stakeholders in Nigeria’s regulatory and public service ecosystem.
Plenary sessions will be chaired by the Honourable Attorney General of the Federation, Lateef Fagbemi SAN, and the Honourable Minister of Finance, Wale Edun. Conversations will focus on closing compliance gaps, strengthening institutional transparency, and promoting cross-sector collaboration.
The Senate Committee on Legislative Compliance Workshop is a unique platform for dialogue, knowledge-sharing, and collaborative action.
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