E-Business
HP Top Cybersecurity Predictions for the Year
By HP Inc. Security Experts & Advisors
From ransomware pile-ons to increasingly commoditized supply chain TTPs, weaponized firmware exploits and targeted attacks on hybrid workers – the threat landscape is set to evolve at a worrying pace this year.
As 2021 drew to a close, our HP security experts and advisors reflected on what the year 2022 has in store. Here, we include insights from a range of HP security experts – including: Michael Heywood, Supply Chain Security Lead; Joanna Burkey, CISO; Dr. Ian Pratt, Global Head of Security for Personal Systems; Patrick Schläpfer, Malware Analyst; Alex Holland, Senior Malware Analyst; Julia Voo, Global Lead Cybersecurity and Tech Policy; and Michael Howard, Head of Security and Analytics Practice; alongside HP Security Advisory Board member and Partner at Deloitte, Robert Masse – identifying four key trends to look out for.
- Increasing commoditization of software supply chain attacks could result in more high-profile victims targeted
Supply chain attacks are likely to continue to present new opportunities for threat actors in 2022. According to Michael Heywood: “We’ll see supply chain attacks continue to rise in 2022 as threat actors search for weak links in software supply chains, targeting software being used widely and globally, or used by a specific company.”
As Joanna Burkey explains, this approach could create economies of scale for threat actors: “With the Kaseya breach – which impacted over 1,500 companies – we saw that supply chain attacks can be financially rewarding. This could lead to the continued commoditization of the tactics, techniques, and procedures (TTPs) used to conduct such attacks. This only adds fuel to the fire, giving threat actors more than enough motivation to exploit software supply chains this year.”
Ian Pratt says both SMBs and high-profile victims may be targeted: “Kaseya demonstrated a pathway to monetization for independent software vendor (ISV) breaches. This should be a wakeup call to all ISVs that even if their customer base doesn’t consist of enterprise and government customers, they can still be caught in the crosshairs of attackers looking to exploit their customers. Now that this blueprint is in place, we could see these types of attack become more widespread this year, targeting both SMBs and high-profile names.”
Some verticals are more likely to be targets of supply chain attacks than others, as Robert Masse explains: “Healthcare firms, as well as those in Energy and Resources (E&R), that use lots of different hardware and software from various vendors will be interesting targets for software supply chain attacks. Supply chain integrity will be vital in 2022, as attackers begin launching attacks quicker than organizations can invest in secure software development cycles.”
Organizations should also be aware of the threat posed by vulnerabilities in open-source software, as Patrick Schläpfer explains: “We’ll see an increase in open-source software packages containing malicious code. Attackers will proactively inject new threats into open-source libraries that feed into software supply chains. This could lead to more companies being compromised, regardless of whether they have a secure perimeter or good overall posture.”
- Ransomware gangs could put lives at risk and engage in ‘pile-ons’
Ransomware will continue to be a major risk this year, with victims potentially being hit more than once, as Burkey outlines: “What we’ll see will be akin to ‘social media pile-ons’, with ransomware victims repeatedly targeted by threat actors. Once an organization has been shown to be ‘soft’, others will pile-on to get their share of the action. In some instances, threat actors will hit a company multiple times in double or even triple dip extortion rackets.”
Extortion methods could also extend beyond the victim as ransomware gangs apply the pressure, comments Alex Holland: “Ransomware operators will almost certainly intensify the ways they pressure victims into paying their demands. Beyond data leak websites, attackers are using increasingly varied extortion methods, such as cold calling, and contacting customers and business associates of victim organizations.”
“Heywood highlights that ransomware gangs won’t just encrypt data, they will steal it too, turning the screws on victims: “As we have seen in 2021, threat actors will continue stealing data before encrypting devices, putting pressure on victims to pay ransoms to unencrypt systems, and prevent the release of data.”
Threat actors could also focus on specific verticals and use cases, as highlighted by Masse: “Attackers have noticed that hitting certain industries will produce a higher likelihood of payment. We could see more attacks on healthcare and E&R organizations.
“Threat actors may well target high risk devices, such as critical medical support systems and their supporting infrastructure, where the risk of significant harm will be highest and therefore a payout will come quickly. This has already started to happen in regions such as Canada, with surgeries being delayed due to ransomware attacks.”
The trend of cooperation between threat actors will continue this year too, as Pratt explains: “We’ve seen time and time again that threat actors are willing to cooperate on attacks. There is a vibrant cybercrime marketplace, empowering a criminal supply chain that enables even unsophisticated threat actors to obtain the tools and services needed to launch successful campaigns.
“Vendors may specialize in stealing credentials, creating exploits, writing email lures, or hosting backend services. The bottom line is that the availability of tools and expertise is enabling the sophistication of criminal attacks to rise.”
- Weaponization of firmware attacks will lower the bar for entry
Masse believes a lack of visibility and control over firmware security will exacerbate the issue: “Certain industries where these attacks could be more probable should start thinking about the risks posed by the weaponization of hardware-level malware and exploits.
“They are very difficult to detect even in the best-case scenario. Rogue processes and memory mapping bypasses will be hot topics in 2022, and we can also expect to see threat actors targeting CPUs, the BIOS and microcode as part of a revised kill-chain for ransomware attacks.”
Policy makers should take note of this trend and enforce change, according to Julia Voo: “The weaponization of hardware-level exploits means that policy makers must step in to develop standards that can help to improve firmware security. By working with industry through a bottom-up approach, policy makers can drive meaningful change in an area that has largely been overlooked.”
- Hybrid work and sporting events will create more opportunities to attack users
The distribution of teams within hybrid working models means identity management will continue to play a key role, as Burkey highlights: “Identity must be solid, verified and robust. Organizations need to make sure that every activity coming from an endpoint is authentic. Is it really the user conducting these activities? Are they who they say they are? Too many organizations think being behind a firewall is enough to keep an endpoint safe, but this isn’t true. In the era of hybrid work, identity management will never be more important.”
The shift to hybrid work will also continue to create problems for organizational security, says Michael Howard: “Every single employee remains a target for attackers, with the volume of unmanaged and unsecure devices creating a huge attack surface to defend.” Masse believes this could make it easier for attackers to go after high-profile staff: “Threat actors could start to target the homes and personal networks of top executives, even government officials, as these networks are easier to compromise than traditional enterprise environments.”
Phishing will remain an ever-present threat in the era of hybrid work, Pratt explains: “Employees have been using personal devices for work or corporate devices for personal tasks, like checking emails. This will continue, and it’s likely there will be an increase in phishing attacks targeting both corporate and personal email accounts. This essentially doubles attackers’ chances of launching a successful attack, so organizations need to educate the workforce on the risks of their behavior and enforce technical controls to prevent compromise.”
High-profile sporting events will also present new opportunities for attackers to target users, according to Schläpfer: “The Winter Olympics in Beijing and FIFA World Cup in Qatar give threat actors plenty of scope for exploitation. Such large events attract opportunistic attackers, be it a direct attack on organizers, sponsors, participants and fans, or as phishing lures for malware and ransomware campaigns targeted at users. Organizations and individuals alike need to be aware of the risks.”
A new approach to security is needed
“The rise of hybrid working and continued innovation from threat actors means 2022 has plenty of nasty surprises in store for enterprise security,” comments Ian Pratt. “As a result, we need to go about securing the future of work in an entirely different way. Organizations should embrace a new architectural approach to security that helps to mitigate risk and enable resilience.
“By applying the principles of Zero Trust – least privilege access, isolation, mandatory access control and strong identity management – organizations can drastically reduce the attack surface and secure the future of work.”
HP Wolf Security can help organizations defend against the plethora of new attacks and risks facing them in 2022. By combining hardware-enforced software and security features with industry-leading endpoint security services, HP Wolf Security provides defense-in-depth and enhanced protection, privacy, and threat intelligence, gathering data at the endpoint to help protect the business at large.
Nick Turley, OpenAI’s Head of Product, testified in Washington that the company would be interested in acquiring Google’s Chrome browser if antitrust enforcers succeed in forcing Alphabet to sell the popular web browser.
This testimony was part of a high-profile trial in which the US Department of Justice is pushing to break up Google’s monopoly in the online search and advertising markets, Reuters reported on Tuesday.
The DOJ’s case centres on Google’s dominance in online search, which it argues unfairly stifles competition. A key aspect of the DOJ’s proposed remedies includes requiring Google to divest assets, including its Chrome browser, to restore a more competitive search environment.
According to the report, Turley’s statement provided insight into OpenAI’s competitive positioning within the generative AI space.
He noted that Google’s refusal to partner with OpenAI for access to its search technology within ChatGPT had pushed the company to explore alternative partnerships, particularly with Microsoft’s Bing.
Turley had previously written that ChatGPT leads the consumer chatbot market and did not consider Google its biggest competitor, according to an internal OpenAI document presented by Google’s lawyers during the trial.
He clarified that the document was meant to inspire OpenAI employees and emphasised that the company would still benefit from distribution partnerships, Reuters reported.
Earlier in the day, Turley testified that Google rejected OpenAI’s bid to use its search technology within ChatGPT.
OpenAI had reached out to Google after experiencing issues with its own search provider, Turley said, though he did not identify the provider. ChatGPT currently uses Microsoft’s Bing for search.
“We believe having multiple partners, and in particular Google’s API, would enable us to provide a better product to users,” OpenAI had told Google in an email shown at the trial.
OpenAI first reached out in July, but Google declined the request in August, citing concerns about competition. “We have no partnership with Google today,” Turley said.
The trial also highlighted Google’s internal strategy, including efforts to secure exclusive search agreements with major Android device manufacturers like Samsung.
According to Turley, such exclusivity could hinder the development of competing AI technologies, like ChatGPT, which depend on a range of search and data sources.
E-Business
Digital Consumers are Driving a New Era of Online Shopping, Transforming how Nigerian Youth Buy
The digital revolution is hitting Nigeria’s retail scene fast, and it’s being powered by the country’s youth. Armed with smartphones and a demand for affordability, they’re shaping the e-commerce industry where convenience reigns supreme.
Nigeria’s internet users, reaching more than half its population, creates a strong foundation for e-commerce growth. This growth is significantly fueled by the nation’s youth, a substantial 160 million (70% of the population), whose tech-forward nature drives the popularity of platforms like Temu, satisfying their demand for accessible and budget-friendly online retail.
This generation has flipped the retail script. Value is their compass, price comparisons their weapon, social media their guide, and convenience their non-negotiable. This isn’t just shopping; it’s a calculated pursuit of savvy options, the widest selection, and the best value-for-money deals.
The power of finding a good deal is undeniable, especially for these shoppers watching their wallets. Social media is a testament to this, filled with posts celebrating the newfound ability to purchase items once considered luxuries.
Take Anwulika Udanoh (@Anwulika Udanoh on Facebook), for example. Her recent post, detailing her shopping experience on Temu, is a perfect snapshot of this online shopping revolution. She stumbled upon affordable jewelry on the platform, swayed by glowing reviews, and took a chance. What followed was a delightful surprise: customised earrings bearing her name, a feat once thought impossible.
Even her son’s friend jumped on the personalisation trend with custom pendants. ‘Their prices will shock you,’ she wrote, with genuine excitement. And despite any concerns about longevity, the sheer joy of affordable, personalised style at good quality won her over. That’s the power of this shift.
This goes beyond mere bargain hunting; it’s about empowerment. It’s about unlocking the ability to express your unique style without sacrificing your financial stability. It’s about finding those small sparks of joy, like personalised jewelry that feels uniquely yours. For many, these platforms are a portal to a more colourful and individually tailored life.
Then there’s the spirit of adventure, captured in a simple tweet by Steph (@steph on X): ‘ordered a couple of desk items, wish me luck.’ It’s the essence of a generation eager to discover new ways to elevate their everyday life.
Launched in the country in November 2024, Temu offers a diverse selection that aligns with the dynamic needs of young Nigerians. The direct-from-factory online marketplace is known for cutting out layers of middlemen and their associated markups and costs, passing on savings to consumers. Serving more than 90 markets globally, Temu has become one of the most visited e-commerce sites worldwide and a top Apple-recommended app of 2024.
Let’s be real: budgets matter. In a country where every naira is carefully considered, competitive pricing and accessible payment methods, aided by partnerships like Temu and Verve, empower Nigerian shoppers with greater choice and freedom to embrace trends while making the budget go beyond. It’s like opening up a world of possibilities.
Adding to the appeal is a user experience designed for the mobile age. With 193.9 million cellular connections, smartphones are the gateway to this digital world, and intuitive platforms allow for seamless browsing and purchasing on the go, perfectly aligning with the dynamic rhythms of young Nigerian life.
This mobile-first approach is further amplified by the power of social proof. In a nation of 31.60 million social media users, reviews and recommendations carry significant weight, transforming satisfied shoppers into passionate brand advocates.
A growing digital environment, particularly in urban areas, presents a rich opportunity for platforms that resonate with the aspirations of young people. They seek more than just products; they want to build online communities, create digital identities, and shape their lifestyles.
Real stories like those of Anwulika and Steph show that Temu isn’t just a place to shop, but a platform that’s unlocking joy, creativity, and financial freedom for Nigeria’s youth. Whether it’s personalised jewellery, playful desk accessories or everyday essentials, Temu is turning everyday purchases into moments of empowerment — proving that with the right platform, anything is possible.
Gold prices surged to a fresh record high on Monday, April 21, while the dollar weakened and global stock markets presented a mixed picture, as concerns mounted over former President Donald Trump’s escalating tariff strategy and his ongoing confrontation with the Federal Reserve.
Amid subdued activity due to continued Easter holiday closures in several markets, investors focused on the potential fallout from Trump’s latest trade moves and looked ahead to key economic data releases later this week that may shed light on the broader impact of the evolving U.S.-led trade war.
The administration’s tariff campaign has triggered swift responses from major economies. While some, like Japan, are reportedly seeking accommodations to ease Washington’s trade levies, China issued a sharp warning to governments not to negotiate at the expense of its interests. A spokesperson for China’s commerce ministry said Monday that appeasement and compromise would fail to win peace or respect, calling on nations to avoid sacrificing broader interests for temporary gains.
Beijing’s tone contrasted with Trump’s comments last Thursday in which he signaled ongoing discussions with China, expressing optimism about reaching a deal. However, tensions remain high, with China facing tariffs of up to 145 percent on some goods, and retaliating with duties of 125 percent on U.S. exports.
The growing uncertainty over the global economic outlook has driven investors toward safe haven assets. Gold climbed above $3,384 per ounce, buoyed both by the geopolitical instability and a weakening U.S. dollar. The dollar’s decline has been exacerbated by concerns over Trump’s comments directed at Federal Reserve Chair Jerome Powell, who warned that the tariffs could lead to a temporary rise in inflation and downplayed prospects for interest rate cuts.
Trump criticized Powell for his remarks and hinted at the possibility of removing him from office, stating: “If I want him out, he’ll be out of there real fast, believe me.” Powell has maintained that he will not step down and emphasized the legal foundation of the central bank’s independence.
The dollar fell against major currencies, with the yen and euro gaining strength. France’s finance minister Eric Lombard said Trump’s tariff policies had already damaged the credibility of the U.S. currency and warned that undermining the Federal Reserve would further shake investor confidence. Chicago Fed President Austan Goolsbee underscored the importance of central bank independence, calling it a near-universal principle among economists.
Asian stock markets reflected the uncertainty, with Tokyo’s Nikkei falling 1.2 percent, while gains were seen in Shanghai, Seoul, Singapore, Manila, and Jakarta. Oil prices declined amid renewed fears over global demand, with West Texas Intermediate and Brent crude both dropping 1.7 percent.
Investors are now watching closely for April manufacturing data from key economies, which are expected to provide early signals about the tangible effects of the tariffs. Analysts warn that U.S. fiscal and monetary policy are increasingly being viewed as volatile geopolitical forces rather than stable economic anchors. Stephen Innes of SPI Asset Management said the reputational damage to the U.S. economic brand is becoming entrenched, with global markets and allies adjusting expectations accordingly.
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