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Digital Risk ‘Soldiers’ Will Emerge in 2015

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A new report by the Gartner Inc. showed  that more than half of (global) chief executive officers are willing have a senior “digital” leader role in their staff by the end of 2015.

Factors such as globalization, growth in electronic commerce, increased economic and political turbulence have drastically increased the need for intelligent electronic security and risk management.

Similarly, Gartner said that by 2017, one-third of large enterprises engaging in digital business models and activities will also have a digital risk officer (DRO) role or equivalent.

By 2020, 60 percent of digital businesses will suffer major service failures due to the inability of the IT security team to manage digital risk in new technology and use cases.

The job roles are spurred by the fact IT, operational technology (OT), the Internet of Things (IoT) and physical security technologies will have interdependencies that require a risk-based approach to governance and management.

The digital risk management (DRM) is the next evolution in enterprise risk and security for digital businesses that are expanding the scope of technologies requiring protection.

“Digital risk officers will require a mix of business acumen and understanding with sufficient technical knowledge to assess and make recommendations for appropriately addressing digital business risk,” said Paul Proctor, vice president and distinguished analyst at Gartner. “

Many traditional security officers will change their titles to digital risk and security officers, but without material change in their scope, mandate, and skills they will not fulfill this role in its entirety.”

The mandate and scope of a DRO is very different than a chief information security officer (CISO) and in many organizations the CISO role will continue with similar scope as in 2014.

The DRO will report to a senior executive role outside of IT such as the chief risk officer, chief digital officer or the chief operating officer.

The report also suggested that they will manage risk at an executive level across digital business units working directly with peers in legal, privacy, compliance, digital marketing, digital sales and digital operations.

The IT security role remains relevant and vital.

However, many CISOs will evolve into DROs as they begin to own or form effective partnerships with digital security teams managing other forms of technology.

IT security leaders may continue with their assigned responsibilities that report to the DRO.

As physical security management becomes increasingly digital, this will include the physical security teams as well.

The impact of this new structure of digital risk governance and management on IT and IT security operations is expected to be minimal, particularly in those enterprises that have already appointed a chief risk officer.

However, the potential impact on the culture of IT and IT security teams is major.

IT, OT, IoT and physical security form a new superset of technology that challenges the ability of existing organizational structures, skill sets and tools to consistently and adequately assess, define and manage technology risks. Simply expanding the portfolio of the existing IT security team to include technology risk for all Internet-aware technology is not viable.

New and existing technology managed outside of the IT organization requires skills and tools beyond the competence of the IT security team in its current responsibilities, and the teams currently involved in management of these technologies are culturally distinct from the IT organization.

A consistent, unified approach to digital risk at the enterprise level has the potential to deliver cost efficiencies and greater risk assurance for business processes than the fragmented approach currently in place at most enterprises.

Gartner also said that the development of a digital risk management capability requires deconstruction and re-engineering of current organizational structures and allocations of responsibility as well as the development of new capabilities in security and risk assessment, monitoring, analysis and control.

“By 2019, the new digital risk concept will become the default approach for technology risk management,” said Proctor. “Digital risk officers will influence governance, oversight and decision making related to digital business. This role will explicitly work with non-IT executives in various capacities to better understand digital business risk and facilitate a balance between the need to protect the organization and the need to run the business”.

However, the cultural gap between IT and non-IT decision makers’ presents a significant challenge. Many executives believe technology — and therefore technology-related risk — is a technical problem, handled by technical people, buried in IT.

If this gap is not bridged effectively, technology and consequent business risk will hit inappropriate levels and there will be no visibility or governance process to check this risk,” Procter added.


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E-Business

Ride the ‘Wicked’ Wave: Temu Brings Green Magic to Christmas

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Temu is set to enchant the holiday season with its unique blend of green magic, bringing a touch of festive wonder to Christmas celebrations. The initiative, themed “Ride the ‘Wicked’ Wave,” promises to deliver an unforgettable experience, combining technology, entertainment, and commerce to create a magical holiday atmosphere.

Temu

Temu’s green magic initiative aims to captivate audiences with a variety of festive offerings, from fashion to home decor, handmade crafts, beauty items, chic clothes, shoes, and more.

The platform’s innovative approach ensures that customers can enjoy a seamless shopping experience, with free shipping on all orders1.

As part of the celebration, Temu has also introduced a magical winter Christmas backdrop, perfect for creating a festive ambiance at home.

This backdrop, made from high-quality polyester, is designed to bring the spirit of the season to life, making it an ideal addition to any holiday decor.

With its commitment to providing exceptional products and services, Temu continues to set new standards in the e-commerce industry, ensuring that customers can enjoy the magic of Christmas in style


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Kaspersky Cybersecurity Experts Warn of Evolving Holiday Scams

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With the holiday season here, it’s not only a time for magic and celebration but also a prime opportunity for fraudsters to exploit the festive rush for gifts and bargains.

Kaspersky Cybersecurity Experts Warn of Evolving Holiday Scams

Amid the sparkle of year-end celebrations, cybersecurity experts at Kaspersky have identified several prominent scams targeting consumers across various regions and languages.

Fake holiday shops

Deceptive online stores mimic the look and feel of legitimate e-commerce sites, offering seasonal items such as decorations, gifts, and even trees at steep discounts.

These sites often appear highly localised, adapting their language and currency based on the user’s geographic location, leveraging data extracted from browsers.

Victims typically encounter these stores by following links in ads or pop-ups.

These sites aim to steal funds. Often, these fraudulent stores exist only for a short period, as they get flagged by the vendors of goods.

Free mobile data offer

This scam plays on the allure of free services, claiming to provide free mobile data valid across all major telecom providers.

In order to receive the free data, victims are required to share the promotion link with 10–15 contacts via WhatsApp, ensuring the scam spreads exponentially.

After sharing, victims are prompted to enter their personal details — name, phone number, and email — into a form.

The collected data is then sold on the Dark Web or used in other fraudulent activities.

In some cases, victims unknowingly download malware that compromises their devices, leading to further exploitation.

Holiday payments on behalf of government agencies

Fraudsters impersonate government authorities, promising fictitious payments in celebration of the holidays.

This scam has been reported in several African countries, including Kenya and Nigeria.

To receive payment, victims are directed to fill out a survey which requires personal details like name and phone number.

Once the survey is completed the user is asked to share the link to the announcement with their connections via WhatsApp.

These details are collected and added to fraudulent databases, then sold to third parties or used for phishing attacks and identity theft.

This scam exploits trust in government systems and the festive spirit of giving.

Christmas recipe scam

This scam begins with a seemingly harmless email promoting a holiday cake recipe.

Victims are encouraged to pay a small fee to access the recipe.

Once payment is made, the victim’s credit card information is stolen. The fraudsters also collect other personal information essential for accessing banking services.

“Holiday scams are not a new phenomenon, but they have evolved to become increasingly sophisticated, leveraging regional traditions and technology to exploit unsuspecting victims.

The rush of the holidays makes people more vulnerable — they’re distracted, eager to grab a deal, or trust promotions that align with festive themes. Cybercriminals are not just stealing money — they’re building massive databases of personal information that fuel future fraudulent schemes.

The holiday season is a time for joy and giving, but users need to remain vigilant to ensure they’re not unknowingly giving fraudsters the tools to exploit them further,” said Olga Svistunova, Senior Web Content Analyst at Kaspersky.

 

 

 

 

 

 


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Hackers Seize NBS Newly Redesigned Website

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Cybercriminals have persisted in targeting Nigerian government websites, with the most recent attack on the National Bureau of Statistics (NBS).

Hackers Seize NBS Newly Redesigned Website

The NBS confirmed the development in a brief statement posted on its X (formerly Twitter) account

It said that its newly redesigned official website has been hacked.

The NBS disclosed the incident and assured the public that efforts are underway to recover the website.

It urged the public to disregard any messages or reports posted until the full recovery of its website.

The statement on X read: “This is to inform the public that the NBS website has been hacked, and we are working to recover it. Please disregard any message or report posted until the website is fully restored.”

The NBS plays a vital role in Nigeria’s development, serving as the official statistical agency responsible for collecting, analyzing, and disseminating statistical data on the country’s economy, governance, and development

This marks the latest in a series of attacks on Nigerian government websites, a trend that has been ongoing for some years.

From government ministries to officials, cyberattacks in Nigeria have surged to alarming levels, with even financial institutions falling victim.

The Nigerian Communications Commission (NCC) and National Information Technology Development Agency (NITDA) frequently issue warnings of cybercriminals targeting individuals, government entities, banks, and telecom companies.


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