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Cybercriminals Turn to Deepfakes, Target Enterprise Networks

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The year 2020 will see a new level of cyber-attacks – fake audio-visuals are forecast to be increasingly used by criminals as a social engineering tactic to extort money from companies and individuals.

This is according to security experts, who warn that deepfakes will transition from being predominantly used to create fake celebrity pornographic videos to the new threat used to sabotage enterprises for financial gains.

Anna Collard, founder and MD of KnowBe4 company Popcorn Training, says deepfakes are spilling beyond the world of celebrity cyber bullying and into company systems.

“Most deepfake technologies use existing media, video or audio typically to train an AI to create a virtual model of the item they want to change. While they can be used for entertainment in applications such as those on phones that swap faces, they can also be used for deception and fraud, to deceive employees into transferring funds or making critical decisions.

“Imagine getting a phone call or voicemail from an executive asking you to transfer money into a bank account. If you believe the person calling is the executive, why would you question the request?” Collard asks.

According to experts, only one social media profile picture is sufficient to create a deepfake video.

Deepfake can also be used for anything from traditional blackmail of politicians, to election influencing through releasing fake videos of candidates, to cyber bullying victims.

According to Forrester’s 2020 Predictions, deepfakes alone will cost businesses over a quarter of a billion dollars, as attackers use AI, machine learning and natural language tools to generate fake audio and video designed to deceive employees into releasing company funds.

Jonathan Miles, head of strategic intelligence and security research at Mimecast, says in the same ways as threat actors impersonate e-mail addresses, domains, subdomains, landing pages, Web sites, mobile apps, and social media profiles, deepfakes are emerging as a new threat, targeting enterprises.

“Deepfake attacks, or voice phishing attacks, are an extension of business e-mail compromise (BEC) and have introduced a new dimension to the attacker’s arsenal. This methodology is becoming more prevalent as an additional vector used for eliciting fraudulent fund transfers.

“Many people are aware of fake videos of politicians, carefully crafted to convey false messages and statements that call their integrity into question. But with companies becoming more vocal and visible on social media, and CEOs speaking out about purpose-driven brand strategies using videos and images, there is a risk that influential business leaders will provide source material for kicking off possible deepfake attacks,” he explains.

According to security firm Trend Micro, deepfake ransomware is among the top ten security trends to watch out for in 2020.

Deepfake audio fraud is a new cyber attack tool, further highlighting how AI can be abused by cyber criminals to make scams harder to detect, often used alongside BEC scams, notes the report.

“For years, email-based scams have been largely perpetrated by fraudsters in West Africa – and we do not expect this to change. We do foresee fraud advancing in 2020, with AI technology being used to create highly believable counterfeits in image, video, or audio format that depict individuals saying or doing things that did not occur.

“The rise of deepfakes raises concern. It inevitably moves from creating fake celebrity pornographic videos to manipulating company employees and procedures.”

This was exemplified when a fake, AI-generated voice of an energy firm’s CEO was used to defraud the company of $243 000.

Experts also believe newsrooms, journalists in particular, could also become a prime target for deepfake creators.

Preventing deepfakes

According to Reuters, China has introduced a new lawgoverning video and audio content online, banning the publishing and distribution of “fake news” created with technologies such as AI and virtual reality, effective from January 2020.

Google, in partnership with Jigsaw, has released a vast dataset of deepfake videos to help researchers in detecting forgeries. It includes 3 000 AI-generated videos that were made using various publicly available algorithms.

Collard believes as scammers constantly seek new ways of earning trust from their victims, the crime is expected to also be increasingly used as part of online dating scams.


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ABoICT Lecture 2025 to Focus on Governance, Standardization in Artificial Intelligence Era

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This year’s Africa’s Beacon of ICT Merit and Leadership lecture will focus on Governance, Standardization and cybersecurity in artificial intelligence era.

The lecture which will herald Africa’s Beacon of ICT Merit and Leadership Awards (ABoICT Lecture 2025) hold on May 24, 2025 at Four Points by Sheraton and will be delivered by Prof. Adewale Obadare, Chief Visionary Officer, Digital Encode – Cybersecurity and GRC Expert.

The sixteenth edition of the award ceremony according Ken Nwogbo, editor-in-chief of Nigeria CommunicationsWeek the organizers of the event, “is a special edition to recognise and celebrate organizations and individuals in the ICT industry that have contributed to the growth of the sector.

“Most of these organizations and individuals have consistently being voted by our readers as leaders in their areas of operations and we have decided to reward them in this special edition, tag: ‘ICT Growth Edition 2025’ he said,”.

He added that, an AI governance framework outlines policies, principles, and practices to guide the ethical and responsible development and deployment of AI technologies, ensuring transparency, accountability, and fairness.

“In the AI era, cybersecurity faces both new threats and opportunities, as AI’s capabilities are used by both defenders and attackers to launch sophisticated attacks and defenses.

“This requires a proactive approach, including AI-powered security tools, robust data security, and ethical AI development, emphasizing real-time monitoring, threat intelligence, and collaboration among cybersecurity professionals and AI researchers.

“Artificial intelligence transforms cybersecurity by automating responses to risks, detecting unusual activity, and even foreseeing possible dangers before they occur.

“While AI has various perks, such as better efficiency and faster risk identification, it also has challenges. Without proper oversight, these systems can be misused or make errors. Strong governance and ethical frameworks ensure AI technologies are used responsibly and effectively.,” he said.

The Africa’s Beacon of ICT Merit and Leadership Distinguished (ABoICT Lecture 2024) is designed to explore efforts to put Nigeria on the global Information and Communications Technologies map.

The lecture series however is reserved for distinguished achievers in the ICT sector.

Past lecturers included Dr. Ernest Ndukwe, then executive vice chairman, Nigeria Communications Commission (NCC); Uche Orji, managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodu Omoniyi, Managing Director/CEO, VDT Communications; Ayotunde Coker, Managing Director, Rack Centre Limited; Peter Adedayo Arogundade, managing director and chief executive officer, Sidmach Technologies Nigeria Limited; Dr. Oluseyi Akindeinde, founder, Hyperspace & NeuraL AI and John Obaro, CEO and founder of Systemspecs; Prof. Isa Pantanmi, minister of Communications and Digital Economy; among others.


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Cabals Still Fighting our Refinery – Dangote

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Aliko Dangote, Africa’s richest man and president of Dangote Refinery, has insisted that the ‘cabal’ in Nigeria’s oil and gas sector is still fighting against the success of his 650,000 barrels per day plant.

Cabals Still Fighting our Refinery – Dangote

Aliko Dangote

Dangote disclosed this, according to Semafor, a global news platform, at an investor forum in Lagos at the weekend.

He said, “For a very, very long time, those that have made a lot of money from government-subsidised oil imports into Nigeria were the ones trying to sabotage the $20 billion worth of refinery situated in Lekki, Lagos.”

He further stressed that “those groups have funded resistance to the Bola Tinubu government’s removal of petrol subsidies and are opposed to the refinery operating easily in the country.”

However, Dangote was confident that the battle between him and the groups would be won, priding himself on being a long-time fighter.

“We’re fighting, and the fight is not yet finished. But I have been fighting all my life, and I am ready and 100 percent sure I will win at the end of the day,” he was quoted.

Recall that Dangote Refinery kicked off the sale of petrol in September 2024, which had led to a significant drop in fuel imports into Nigeria.

In May 2023, President Bola Ahmed Tinubu announced the removal of the fuel subsidy during his inauguration speech.


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NPAN Hails Tribunal’s Ruling on FCCPC’s $220M Fine Against Meta

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Newspaper Proprietors’ Association of Nigeria (NPAN) has welcomed the decision of the Competition and Consumer Protection Tribunal (CCT) upholding the $220 million fine imposed on Meta Platforms Inc. by the Federal Competition and Consumer Protection Commission (FCCPC).

In a statement signed by its President, Mal. Kabiru A. Yusuf, and General Secretary, Mrs. Angela Emuwa, NPAN described the ruling as a significant milestone in Nigeria’s efforts to enforce digital accountability and protect the rights of its citizens.

“The decision affirms the importance of compelling global digital platforms to adhere to Nigeria’s laws and respect the rights of users,” the association said.

NPAN noted that the fine, resulting from a 30-month investigation spanning 2021 to 2023, was imposed due to Meta’s alleged unauthorized data sharing and discriminatory practices affecting Nigerian users.

The association also emphasized that Nigeria’s regulatory action aligns with global trends, citing similar penalties imposed on Meta in Europe, as well as actions against other tech giants such as Amazon, TikTok, Google, and Apple.

As an advocate for media freedom and fair digital practices, NPAN reaffirmed its commitment to safeguarding intellectual property and ensuring fair remuneration for publishers in the evolving digital landscape.

It further urged sustained collaboration among government agencies, civil society, and industry players to strengthen Nigeria’s digital regulatory environment.


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