E-Business
Firm Predicts AI, Privacy to Shape Consumer Cybersecurity Landscape in 2025
According to Kaspersky’s latest report, artificial intelligence (AI) will become an integral part of daily life, while privacy concerns around biometric data and advanced technologies will take center stage in 2025. These forecasts are part of the annual Kaspersky Security Bulletin series, which provides an outlook on the cybersecurity trends and threats expected to impact consumers in the coming year.
AI becomes an everyday reality
AI is predicted to fully integrate into daily life in 2025, becoming a standard tool rather than a novel technology. With prominent operating systems like iOS and Android rolling out AI-enhanced features, people will increasingly rely on AI for communication, workflows, and creative tasks.
However, this normalisation also brings challenges, particularly as personalised deepfakes become increasingly sophisticated in the absence of reliable detection tools.
Privacy regulations will expand user data ownership
The growing emphasis on privacy is expected to lead to new regulations that strengthen user control over personal data. By 2025, individuals may gain the right to monetise their data, transfer it easily across platforms, and benefit from simplified consent processes.
Global frameworks, such as the EU’s GDPR, California’s CPRA and South Africa’s POPIA, continue to inspire reforms worldwide, while decentralised storage technologies could further strengthen user autonomy over their information.
Fraudsters will continue to exploit premieres and releases
Cybercriminals are expected to target prominent gaming, console, and film launches in 2025. Titles like Mafia: The Old Country, Civilization VII, and Death Stranding 2, as well as the anticipated Nintendo Switch 2, are likely to attract scams involving fake pre-orders, counterfeit rootkits, and malicious downloads.
Similarly, blockbuster films like Superman and Jurassic World Rebirth may trigger phishing campaigns and counterfeit merchandise fraud aimed at enthusiastic fanbases.
Political polarisation will fuel cyberbullying
Increasing political polarisation is expected to exacerbate cyberbullying in 2025. Social media algorithms that amplify divisive content, combined with the widespread availability of AI tools for creating deepfakes and doctored posts, are likely to intensify online harassment. Cross-border cyberbullying could also escalate as global platforms facilitate the targeting of individuals based on their political beliefs.
Rising number of subscription services will fuel fraud risks
As the global economy shifts further towards subscription-based models, a rise in fraud related to fake subscription promotions is expected. Cybercriminals are expected to create counterfeit services that mimic legitimate platforms, aiming to deceive users into providing personal and financial information, resulting in identity theft and financial losses.
Additionally, the growth of unofficial resources that provide discounted or free access to subscription services is expected to become a significant threat vector, exposing users to phishing attacks, malware, and data breaches.
Prohibition of social media for children may lead to broader user restrictions
Australia’s proposed legislation to ban social media access for children under 16 could set a global precedent. If implemented successfully, the restriction could pave the way for broader limitations on access for other demographics.
Platforms like Instagram have already begun adopting AI-powered age-verification systems, signaling a shift toward stricter governance of online spaces.
“As we look to 2025, the most significant impact on consumers is expected to arise from the intersection of innovation and regulation. Advances in AI, privacy protection, and data ownership frameworks will reshape the way people interact with technology and manage their digital lives.
These developments hold immense potential but also demand careful oversight to ensure they serve consumer interests,” said Anna Larkina, Kaspersky privacy expert.
E-Business
Companies Plan to Increase IT Security Budgets by 9 Percent in the Next Two Years
Companies are planning to increase their investments in information security against the background of growing financial losses from cyber incidents. This trend was revealed in the recent Kaspersky’s IT Security Economics report.
Kaspersky IT Security Economics is an annual report that unpicks the changes in budgets, breaches and business challenges affecting IT Security decision makers. It is based on interviews with IT and IT security professionals working in organisations of various sizes and industries.
The survey was conducted across 27 countries in Europe, the Asia-Pacific region, the Middle East, Turkiye and Africa region (including Egypt, Saudi Arabia, Pakistan, South Africa, Turkiye, the UAE), Latin and North America.
According to the research, companies plan to increase their IT security budgets by up to 9%. The median cybersecurity budgets for large enterprises were $5.7M with $41.8M allocated for IT generally, while SMBs invested $0.2M in IT security from a median IT budget of $1.6M.
Possible reasons for the increased investment can be found in the analysis of financial losses from cyber incidents. Large enterprises experienced an average of 12 incidents this year, spending $6.2M to recover from them — 1.1 times higher than the budget allocated for IT security overall.
Despite the greater resources and advanced security infrastructures, the sheer scale and complexity of large enterprise organisations make them more susceptible to costly breaches.
While these enterprises are often better equipped to detect incidents quickly, the time required to fully respond and mitigate these threats can span for hours, underscoring the challenge of managing widespread, complex IT environments.
As for SMBs, these organisations experienced an average of 16 incidents this year, while spending $0.3M for remediation, which is 1.5 times higher than their overall IT Security budget.
SMBs are the most disproportionately affected group in terms of budgetary impact. They often lack robust cybersecurity policies and procedures, which leaves them vulnerable to incidents involving employees, public cloud misconfigurations, and high-level permissions.
In the Middle East, Turkiye and Africa region organiations of all sizes reported to have experienced on average 13 incidents within a year.
“This data illustrates the continuation of the current trend of increasing cybersecurity spending across all market segments. This growth is driven by at least three key factors.
“Firstly, and obviously, the constant growth in the complexity of cybersecurity threats forces companies to adopt more advanced solutions to enhance the detection of attack traces and automate responses.
“Secondly, increasing concerns from governments regarding digital sovereignty leads to the emergence of new regulations and regulatory requirements and, as a result, increased expenses.
The third factor influencing the growth of cybersecurity budgets and costs is the constant increase in salary expectations for professionals in various cybersecurity fields,” comments Veniamin Levtsov, Vice President, Center of Corporate Business Expertise at Kaspersky.
To protect companies against a wide range of cyber threats, Kaspersky recommends:
– Use all-encompassing solutions, such as those from the Kaspersky Next product line, that provide real-time protection, threat visibility, advanced investigation and response capabilities for companies of any size and industry.
– Adopt a managed security service such as Kaspersky Managed Detection and Response if companies lack qualified InfoSec professionals. It will provide the necessary expertise and give them the best possible advanced automated security services. Thanks to its analysis of corporate data gathered every day, in real time, 24/7, it can shield businesses against sophisticated cyberattacks.
– Educate your employees. Dedicated training courses can help, such as those provided in the Kaspersky Automated Security Awareness Platform.
E-Business
Digital Jewels Africa, CIBN Collaborate to Strengthen Cybersecurity in Nigeria’s Banking Sector
Chartered Institute of Bankers of Nigeria (CIBN) in partnership with Digital Jewels Africa (DJA), IT Governance, Risk, and Compliance (GRC) firm, organized a high-impact workshop recently in Lagos.
The workshop Themed “A Cyber Resilience Table Top Simulation Exercise for Board Members and Executive Management of Banks,” aimed to tackle the increasing cybersecurity challenges in Nigeria’s banking industry. It equipped senior executives and board members with effective tools and strategies to combat evolving cyber threats.
In his address, the First Vice President of CIBN, Mr. Dele Alabi, FCIB (representing the President and Chairman of Council. Prof. Pius Deji Olanrewaju, Ph.D,FCIB, emphasized the critical role of cybersecurity in today’s digital economy.
“As leaders in the banking sector, it is our responsibility to stay proactive in identifying and mitigating cyber risks. This workshop provides the tools and insights necessary to strengthen our cyber resilience,” he stated.
Also speaking at the workshop, Mrs. Adedoyin Odunfa, the Group Managing Director and CEO of Digital Jewels Africa, delivered an engaging presentation highlighting critical issues in the ever-changing cyber risk landscape. She discussed emerging threats, including third-party vulnerabilities and insider threats, and stressed the importance of safeguarding data, which she referred to as the “Digital Crown Jewels” of modern organizations.
“Enhancing our cyber resilience posture is essential to making it harder for attackers and minimizing their rewards,” she noted.
Mrs. Odunfa further proposed actionable strategies to bolster resilience, such as adopting automated controls and fostering collaboration within the banking ecosystem. “This initiative represents a major leap in empowering Nigeria’s banking leaders with the knowledge and skills necessary to protect their institutions, ensuring continued trust and stability in the financial sector,” she added.
Participants engaged in dynamic discussions about the implications of emerging technologies like Artificial Intelligence (AI) and explored strategies to address AI challenges, including job displacement, privacy concerns, and security risks. The workshop emphasized the importance of strategic governance frameworks, talent development, and collaborative efforts to fortify defences against cyberattacks.
The 2nd part of the session involved a closed door immersive incident response simulation which provided deep insights and practical actionable next steps in handling cyber incidents within Banks.
E-Business
Nigeria’s VAT Revenue Hits N1.78 Trillion in Q3 2024, NBS Reports
National Bureau of Statistics (NBS) has announced that Nigeria generated N1.78 trillion in value-added tax (VAT) revenue during the third quarter (Q3) of 2024, representing a 14.16 percent increase compared to the N1.56 trillion collected in the second quarter (Q2) of the same year.
The report highlights a significant year-on-year growth, with Q3 2024 VAT revenue showing an 88 percent increase from the N948 billion recorded in Q3 2023. VAT, a consumption tax managed by the Federal Inland Revenue Service (FIRS), is distributed among the three tiers of government through the Federation Accounts Allocation Committee (FAAC).
“On the aggregate, Value Added Tax (VAT) for Q3 2024 was reported at N1.78 trillion, showing a growth rate of 14.16% on a quarter-on-quarter basis from N1.56 trillion in Q2 2024,” the NBS stated.
According to the breakdown, local VAT payments accounted for N922.87 billion, foreign VAT payments contributed N448.85 billion, and import VAT totaled N410.62 billion in Q3 2024.
The report also noted variations in growth rates among sectors. “On a quarter-on-quarter basis, Human health and social work activities recorded the highest growth rate with 250.39%, followed by the activities of households as employers, undifferentiated goods- and services-producing activities of households for own use with 102.09%,” NBS said.
Conversely, some sectors experienced declines. “Water supply, sewerage, waste management, and remediation activities had the least growth rate with –41.92%, followed by activities of extraterritorial organizations and bodies with –36.14%.”
In terms of sectoral contributions, manufacturing led with 22.21 percent, followed by information and communication with 20.89 percent, and mining and quarrying activities at 18.90 percent. On the lower end, activities of households as employers and extraterritorial organizations each contributed 0.01 percent, while water supply, sewerage, waste management, and remediation activities accounted for 0.03 percent.
- Telecom2 days ago
Nigeria Risks Missing out on $1.2 Trillion AI Opportunity- NigComSat
- News2 days ago
FCCPC Warns Air Peace against Obstructing Ongoing Inquiry
- News2 days ago
Engr. Aziz, Former NIMC DG Celebrates Prof. Iya Abubakar at 90
- E-Business1 day ago
NCAC, NITDA Partner to Launch BuyNigeria.ng Platform
- Broadcasting2 days ago
NCAA Educates Passengers on Travel Challenges and Solutions
- E-Financial2 days ago
UBA to Commence Operations in Saudi Arabia by 2025
- E-Financial2 days ago
Beware of Fraudulent Giveaways this Yuletide– Moniepoint MD Warns
- Telecom2 days ago
Digital Literacy Initiative: NITDA and Ministry of Education Join Forces