Cyber security experts and international data organisations have warned Nigerians to wary of activities of cyber criminals hiding under the anonymity of the information super highway.
Nigeria has been the main target of cybercriminals for the past two years because many of its businesses had moved online during the coronavirus-induced lockdown.
Kaspersky, global cybersecurity and digital privacy company, reports that leading countries in Africa, including Nigeria, have experienced 85 million malware attacks in just six months.
The data showed that South Africa, the most targeted had 32 million attacks, followed by Kenya with 28.3 million, Nigeria with 16.7 million cyber attacks, while Ethiopia had 8 million attacks.
However, Nigeria and Ethiopia have had the highest increase of cyber attacks on the continent compared to the pre-COVID-19 year. Nigeria, Ethiopia and South Africa recorded an increase of 23 per cent, 20 per cent and 14 per cent, respectively, with Kenya being the only country that saw a decrease of 13 per cent.
Nigeria seems to be the most hit. Yet, experts see more attacks on businesses as the movement toward Internet-of-Things (IoT), Artificial Intelligence, and cloud computing continues to gain momentum. But this also exposes businesses to cyber-attack risks.
However, the cyber security experts said this type of gloomy data should spur responsible, conscious and forward-thinking corporate and large businesses heavily exposed to e-commerce to adopt strategies for mitigating these risks.
But small businesses are not left off the ugly trend. Recent findings show that enterprises with less than 200 employees lose an average of $2.5 million each due to cyber threats. Nigerian SMEs inclusive.
Sophos Group believes that 86% of Nigerian companies fell prey to cyber attacks last year.
Mr Victor Idonor, director-general, Cybersecurity Challenge Nigeria Initiative (CYSEC NG), urged Nigerians to be wary of cybersecurity, like every other security challenge and its impacts on the nation and citizenry.
National Information Technology Development Agency (NITDA) has also warned that there are possible spillover cyber-attacks against non-primary targets as a result of Russia’s invasion of Ukraine.
Mrs Hadiza Umar, head, Corporate Affairs and External Relations of NITDA, in a statement issued in Abuja, said the invasion had increased cyberattacks on businesses and government agencies.
“There is a greater danger for countries doing business in or with these countries’ governments, as well as businesses or countries that apply sanctions or are believed to intervene. In this regard, NITDA’s Computer Emergency Readiness and Response Team (CERRT) is urging all Ministries, Departments and Agencies (MDAs) to take extra security precautions.
“They should harden their cyber defences and perform due diligence in identifying indicators of malicious activities that could affect their networks, assets and critical national infrastructure. MDAs are advised to carry out checks for possible vulnerabilities on their systems and implement appropriate remediations,” Umar said.
She added that they should always ensure the software is updated and carry out regular patches on all systems. According to her, they should secure and monitor remote desktop protocol and other risky services and carry out awareness on cyber security best practices to sensitise employees and users of services.
NITDA called on organisations to sign up for NITDA’s free web protection service, which will provide MDAs’ administrators with detailed information about the vulnerability of their web services.
Some tips to detect and mitigate cyber risks:
- Beware of mysterious email activity
Email phishing is one of the primary ways attackers gain access to sensitive business information by pretending to be a trusted organisation or website. These attempts have been growing in number, making it essential for employees to practice safe email protocol and be careful not to click on online links, open emails, or attachments from unknown sources. It is also advisable to create a culture where all employees refrain from responding or engaging in emails with anonymous sources.
- Note unusual password reset request
This is another devious way cybercriminals deploy to gain access to the company’s secure portal. An employee who receives an email requesting a password change or update should immediately report the event to the IT unit. A good security best practice is to ensure that all employees create a strong password for their email.
- Report a slower-than-normal network
This kind of episode might seem normal in this part of our world, where strong connectivity is not the usual. However, this could also be a hacking attempt or malware attack. These attempts often result in spikes in network traffic that can reduce internet speed. To mitigate this, inform the IT security department to be on the watch during such situations. Also, inform the internet service provider to ensure the team is on the alert.
- Prepare for the worst-case scenario
Despite all these high-alert detection strategies and information to employees, the unplanned can still happen, making it more critical to have a cyber insurance policy that your organisation can fall back on should such an event occur. One of the deliberate actions is to prioritise cyber threat insurance on top of your risk mitigation plan against cyber attacks.
