E-Business
Digital Encode: Pioneering Effective Cybersecurity Response to Attacks in Nigeria
International Telecommunications Union (ITU) in its global cybersecurity index (GCI) 2020 ranks Nigeria 47th among countries tackling cybercrimes headlong.
The index disclosed that countries are working to improve their cyber safety despite the challenges of COVID-19 and the rapid shift of everyday activities into the digital sphere.
Despite notable improvements, gaps in cyber capacity persist, according to ITU. The GCI revealed that many countries and regions lag in key areas.
These include cybersecurity skills training, which must be tailored to the needs of citizens, micro-, small and medium-sized enterprises (MSMEs); finance, healthcare, energy, and other key sectors, which require dedicated measures to close cybersecurity gaps; critical infrastructure protection, which requires enhancement to meet new and evolving cyber threats and Individual data protection, which requires continual reinforcement as online activity expands.
In Nigeria one company has distinguished itself in providing effective strategy in addressing issues in the key sectors that ITU report identified and that company is Digital Encode.
Digital Encode is a leading consulting and integration firm founded in 2003 that specializes in the design, management, and security of business-critical networks, telecommunications environments and other Information Technology (IT) infrastructures.
Recognized in the industry for its vendor independent perspective, the firm’s expertise lies in solving multifaceted, complex enterprise network security and audit problems.
At Digital Encode, technology serves two purposes: to save money and solve a problem. Digital Encode also provides advisory services toward improvements in Information Security Management, Network Security, Vulnerability Management, Penetration Testing, Computer Forensics, Risk Management and Business Continuity Management.
Digital Encode’s unique methodology is rooted in the concept that a company should run its IT organization as a business. Throughout the well -defined process, Digital Encode translates strategic business objectives into sound, achievable technology solutions. This approach ensures that the technology never obscures the business goals.
Digital Encode has managed several projects for banks in the country among them included penetration testing and vulnerability assessments for PCIDSS certifications.
It has also assisted many organisations to deliver ISO 27001:13 certification which is a testament to their teamwork, focus, drive and will to succeed.
Recently, Digital Encode got licensed under the Data Protection Compliance Organisations (DPCO) by the National Information Technology Development Agency (NITDA).
With the development, Digital Encode is recognised by NITDA to provide training, auditing, and consulting services throughout the country in line with the Nigeria Data Protection Regulation (NDPR) principles.
Among the objectives behind the regulation were the protection of the privacy rights and freedoms of Nigerian citizens, on the one hand and the promotion of local and foreign investments in the digital economy by safeguarding the information systems infrastructure against breaches and implementing internationally compatible rules.
As a DPCO, Digital Encode is expected to verify self-audits prior to submission to NITDA. This is a means of decentralising compliance activities for more efficiency.
Dr. Peter Adewale Obadare, Co-founder and Chief Operating Officer of Digital Encode, who is also the Director of Governance, Risk and Compliance at Digital Encode, said as a Pan-African cyber security, the company would continue to keep assisting individuals and businesses protect their information assets.
Dr. Seyi Akindeinde, Chief Technical Officer of Digital Encode, said the license would remain a testament to Digital Encode’s unique methodology rooted in the concept of professionalism.
Akindeinde added that while assisting companies to achieve the data protection goals through a well-defined secure process, Digital Encode would continue to translate strategic business objectives into sound, achievable technology solutions.
Digital Encode Cyber security Efforts in Nigeria
Dr. Wale Obadare and Dr. Oluseyi Akindeinde, both founders of Digital encode have expressed worries over the implementation of none impactful cyber security solutions to organizations by vendors which has resulted in increased loss of money and data by organizations.
They cautioned organisations on over dependence on cyber security products for protection against cyber-attacks.
Obadare, further said that major challenge organizations face in the fight against cybercriminal and cyber warfare is lack of trained manpower.
“I have been in cyber security ecosystem for many years now and have identified lack of trained manpower in most organizations. Cyber security is not a certificate that speaks for you, but a continuous training to be ahead of the smart criminals. Most organizations find it difficult to continually update their IT security staff to be able to face cyber threats,” he said.
Akindeinde, emphasized on the need for a national cyber security framework against industry specifics frameworks.
“There are a number of frameworks aimed at assisting most organizations in preventing cyber attacks. A prime example is the ISO 27001 ISMS. A more specific one for the financial / payments sector is the PCI DSS. This is a regulatory framework. I think it’s a case of the level of maturity of cybersecurity in the banking sector. Other sectors have not got to that advanced stage of maturity which is why the banks seem to be at the forefront of preventing and addressing issues related to Cybersecurity,” he said.
Recognitions
Digital Encode has been conferred with several awards in recognition its efforts in pioneering effective cybersecurity strategy in Nigeria and Africa as well as its quality-driven operations and global best practice standards in Information Security Management and Compliance Advisory ecosystem among them included; the ‘Africa’s Most Innovative Quality Cyber-Security Consulting Company’ by African Quality Institute.
At the 11th edition of Beacon of ICT awards 2020, Digital Encode was inducted in the Beacon of ICT Hall of Fame as the Cybersecurity Company of the Year of the Decade as well as Compliancy Advisory Company of the Year of the Decade.
Nigeria CommunicationsWeek, organisers of the award said that Digital Encode is the only Nigerian Cybersecurity company to have been inducted into the Hall of Fame.
More so, the company’s founders Dr. Wale Obadare and Dr. Seyi Akindeinde, at the same edition of the award in addition to emerging as Nigeria CommunicationsWeek Man of the Year 2020 were also inducted into the individual category of the Beacon of ICT Hall of Fame as Cybersecurity Personalities of the Decade.
The organisers described Digital Encode efforts in the country’s Cyber-Security ecosystem’s and emergence in its award categories as “Digital Encode’s consistency in placing high premium on quality in all areas of its operations.”
As the digital age progresses, internet scam have become a significant concern for individuals, businesses, and governments worldwide.
While providing numerous opportunities for communication and commerce, the internet has also opened the door for fraudulent activities that exploit unsuspecting victims.
The prevalence of online scams has led to financial losses, psychological distress, and a general erosion of trust in digital transactions.
In this landscape, certain countries stand out for their vulnerability to internet scams due to various socio-economic and technological factors.
According to Sanction Scanner, these top 10 countries have the highest cases of internet fraud, in no particular order.
India
India has witnessed an alarming rise in internet scams, particularly in the realms of online shopping, tech support fraud, and lottery scams.
With over 600 million internet users, the country has become a fertile ground for cybercriminals.
India faces a severe cybercrime challenge, recording $7.93 million USD. in losses across 4,850 cases in 2023, according to the National Crime Records Bureau (NCRB). Digital financial frauds alone amounted to $14.86 million USD over the past three years.
The government has initiated several awareness campaigns, but the rapid growth of digital infrastructure continues to challenge law enforcement agencies to keep up with the evolving tactics of scammers.
Brazil
Brazil’s financial ecosystem has been significantly impacted by internet scams, especially banking trojan attacks that infiltrate user accounts and syphon off funds. Cybercriminals exploit vulnerabilities in online banking systems, leading to millions of dollars in losses annually.
Brazil’s fintech boom has attracted cybercriminals. In 2023, 1.8 million banking trojan infections were recorded, as reported by Kaspersky Lab.
The introduction of the Pix payment system has revolutionised financial transactions but exposed users to malware attacks, with eight of the top 13 trojans globally originating from Brazil.
As the digital banking sector expands, Brazilian authorities are working to implement stronger cybersecurity measures, but the cat-and-mouse game with scammers remains a constant struggle.
Pakistan
The landscape of internet fraud in Pakistan has been marked by a surge in suspicious transaction reports, indicating a growing problem with financial crimes, including money laundering.
Pakistan’s Financial Monitoring Unit (FMU) reported 32,072 suspicious transaction reports (STRs) in 2023.
Fraudulent activities involve money laundering and terrorist financing schemes, reflecting rising threats in both the financial and criminal sectors.
Despite government efforts to regulate and monitor online transactions, the lack of awareness among the populace often leads to individuals falling victim to these schemes.
This has created a pressing need for enhanced cybersecurity education and more robust regulatory frameworks.
South Africa
In South Africa, internet scams have manifested primarily through identity theft and online auction fraud.
The rise of social media platforms has provided scammers with new avenues to target victims.
Ranked 7th on the Global Criminality Index (2023), South Africa faces escalating identity theft and credit card fraud. Fraudulent loan applications and phishing attacks are widespread, exacerbated by vulnerabilities in online platforms and digital banking systems.
South African authorities have ramped up efforts to combat cyber fraud through public awareness campaigns and stricter regulations, yet the prevalence of scams continues to challenge consumers and businesses alike.
Morocco
Morocco faces a troubling rise in online scams, particularly those involving identity theft and fraud through social networks.
Many Moroccans lack awareness of the tactics employed by fraudsters, leading to increased victimisation.
Fraudulent activities are growing, with the Unit for the Processing of Financial Information (UTRF) monitoring suspicious transactions linked to money laundering and embezzlement.
The government is beginning to address these issues, but as the digital economy grows, so too does the need for comprehensive cybersecurity education and preventive measures.
Romania
Romania has emerged as a significant player in the realm of internet scams, characterised by complex networks of financial fraud, money laundering, and identity theft. While the country has made strides in improving its cybersecurity infrastructure, the sophistication of scams has outpaced regulatory efforts.
Romania’s vulnerability to business email compromise (BEC) scams and money laundering is significant. Europol reports highlight cases involving human trafficking and financial fraud.
Ongoing initiatives to combat these challenges are vital for restoring trust in Romania’s digital environment.
Nigeria
Known for its notorious “419” scams, Nigeria continues to battle a reputation fraught with issues related to cyber fraud.
Scammers often target individuals both locally and internationally, employing tactics that promise lucrative returns in exchange for upfront fees.
The Nigerian Financial Intelligence Unit struggles with enforcement due to institutional corruption. Educational initiatives aimed at raising awareness among citizens about online scams are critical to changing perceptions and reducing victimisation.
Venezuela
The dire economic situation in Venezuela has led to a surge in internet scams, including credit card fraud and various government-related schemes.
As citizens grapple with financial instability, scammers exploit their vulnerabilities, preying on desperate individuals seeking financial relief.
With frequent cases of identity theft, credit card fraud, and government-related corruption, narcotics trafficking exacerbates financial crimes, as the Unidad Nacional de Inteligencia Financiera (UNIF) works to monitor suspicious activities.
Alphabet’s Google is developing an artificial intelligence (AI) technology capable of operating a web browser autonomously to complete tasks like research and shopping.
According to sources familiar with the product, the tool codenamed ‘Project Jarvis’, is expected to be demonstrated as early as December alongside Google’s upcoming Gemini large language model.
Microsoft-backed OpenAI is also pursuing similar goals, aiming to create models that can autonomously browse the web with the help of a “computer-using agent” (CUA) that can perform action based on findings reported by Reuters in July.
Meanwhile, both Anthropic and Google are advancing the concept with software designed to interact directly with a user’s browser or computer. Google has not yet responded to a request for comments
The long-awaited Konga Yakata—Nigeria’s biggest annual sales event—is set to begin this Friday, November 1, 2024, and will run through the entire month of November, ending on Saturday, November 30.
As excitement builds among shoppers, this year’s edition promises to deliver even more incredible savings, with up to 90% discounts on a wide array of premium products.
From tech enthusiasts to fashion lovers, families, and collectors of fine wines and spirits, there’s something for everyone in this year’s Konga Yakata sale.
As the authorized retail outlet for numerous leading Original Equipment Manufacturers (OEMs), Konga brings a distinct pricing advantage to shoppers during this event.
Customers can enjoy unbeatable discounts on a wide range of products, including tech gadgets, electronics, home and kitchen appliances, Starlink kits, and more from top brands like L’Oreal, Apple, Samsung, Philips, Nokia, Hisense, Oppo, Infinix, Lenovo, and HP.
Despite the current economic challenges in Nigeria, Konga Yakata has emerged as a beacon of hope for savvy shoppers. Contrary to predictions from analysts and market watchers who forecasted a significant decline in consumer spending due to the harsh economic conditions, investigations reveal that Nigerians are trusting Konga for their shopping needs.
Shoppers are adopting a smarter approach by targeting high-value deals and maximizing the incredible discounts available during Konga Yakata.
For many, the Konga Yakata sale has become the ultimate way to shop while saving money. Rather than cutting back on spending, shoppers have found innovative ways to navigate the economic downturn by leveraging Konga’s impressive discounts and exclusive Black Friday offers.
Shoppers can look forward to an array of exciting shopping experiences including Flash Sales up to 99% OFF, Cyber Monday, Treasure Hunt, Live Auction, Mega Discount Day, Happy Hour, Jumbo Party, Battle Of The Brands, 25k Shop, Weekend Shopathon, Fashion Haul, Yakata Mobile Frenzy, Health & Fitness Day, TGIF Bonanza, Week Of Wonder, and brand days for each Konga vertical.
Additionally, Konga offers a valuable opportunity for corporate organizations, entrepreneurs, and business-focused individuals through Konga Corporate and Konga Bulk.
By being the trusted retail partner for OEMs, Konga enables aspiring entrepreneurs to purchase products in bulk, empowering them to resell and grow their businesses.
According to Dave Omoregie, Chief Operating Officer Konga Group, the idea behind Konga Yakata is to provide Nigerians with an opportunity to purchase high-quality items at affordable prices, ensuring that no one has to compromise on their shopping needs during these trying times.
“We understand the economic challenges our shoppers face, which is why we are committed to offering exceptional value through Konga Yakata.
“This year, we’ve gone the extra mile to include a range of incentives that will ensure shoppers find something for everyone—whether it’s electronics, fashion, or even everyday essentials,” the COO added.
Konga Yakata’s impressive lineup of offers is designed to accommodate all types of shoppers, from those on a budget to those looking to splurge on premium items.
The Jumbo Party provides a curated selection of items at unbeatable prices, while the 25k Shop are perfect for those looking to score fantastic deals without breaking the bank.
For families and individuals looking for a weekend shopping spree, the Weekend Shopathon offers even more opportunities to save on must-have products.
The enthusiasm surrounding Konga Yakata 2024 is a testament to the resilience of Nigerian consumers.
They are also adapting their shopping strategies to focus on value-adding deals.
As November 1 approaches, the anticipation continues to build.
Shoppers are advised to mark their calendars and prepare their wishlists for what promises to be the biggest Konga Yakata yet.
For more information about Konga Yakata 2024 and to stay updated on the latest deals, visit www.konga.com or follow Konga on social media.
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