E-Business
HP Wolf Security Survey Reveals IT Leader Concern Over Firmware Attacks
HP Inc. has released research from HP Wolf Security showing changing workforce dynamics are creating new challenges for IT teams around firmware security. As business workforces become increasingly distributed, IT leaders say it’s harder than ever to defend against firmware attacks.
The shift to hybrid work models has transformed how organizations manage endpoint security, while also highlighting new challenges for IT teams around securing device firmware. The HP Wolf Security global survey of 1,100 IT leaders reveals that:
- The threat of firmware attacks is a growing concern for IT leaders now that hybrid workers are connecting from home networks more frequently: With hybrid or remote work now the norm for many employees there is a greater risk of working on potentially unsecure home networks meaning that the level of threat posed by firmware attacks has risen.
More than eight-in-ten (83%) IT leaders say firmware attacks against laptops and PCs now pose a significant threat, while 76% of ITDMs said firmware attacks against printers pose a significant threat.
- Managing firmware security is becoming harder and taking longer in the era of hybrid work, leaving organizations exposed: More than two-thirds (67%) of IT leaders say protecting against, detecting, and recovering from firmware attacks has become more difficult and time-consuming due to the increase in home working, with 64% saying the same of analyzing the security of firmware configuration.
As a result, 80% of IT leaders are worried about their capacity to respond to endpoint firmware attacks.
Dr. Ian Pratt, Global Head of Security for Personal Systems at HP Inc. comments: “Firmware attacks are very disruptive and much harder to detect or remediate than your typical malware – often requiring expert and even manual intervention to fix.
“This increases the cost and complexity of remediation considerably, particularly in hybrid environments where devices are not on site for IT teams to access.
“Having more endpoints sitting outside of the protection of the corporate network also reduces visibility and increases exposure to attacks coming in via unsecured networks.”
“At the same time, we are seeing a rise in destructive attacks – such as wiper malware. Last year, our research team saw attackers conducting reconnaissance on firmware configurations, with the likely intent of exploiting unsecured configurations to weaponize for financial gain.
“Once an attacker has gained control over the firmware configuration, they can exploit their position to gain persistence and hide from anti-malware solutions that live in the Operating System (OS).
“This gives them an advantage, allowing them to stealthily maintain persistence on target devices, so they can gain access to infrastructure across the enterprise and maximize their impact.”
Despite the clear risks that firmware attacks pose to organizations, device security is not always a major consideration in the hardware procurement process, with many organizations continuing to use technologies that are not built with security in mind.
This issue is being exacerbated by the new shadow IT whereby employees are purchasing and connecting devices outside of IT purview while working remotely. HP Wolf Security’s Out of Mind and Out of Sight report found that 68% of office workers that purchased devices to support remote work said security wasn’t a major consideration in their purchasing decision. Furthermore, 43% didn’t have their new laptop or PC checked or installed by IT or security.
Boris Balacheff, Chief Technologist for Security Research and Innovation at HP Labs comments: “Security must become part of the procurement process when purchasing new IT devices. Organizations need to play the long game, because the devices you procure today will be the environment you have to manage and protect tomorrow.
“State-of-the-art device security delivers protection for firmware against malware as well as physical tampering, with detection both below and above the OS and autonomous self-healing recovery from the hardware up – but this will only help address the issue for organizations that know to ask the right questions when they procure new devices.”
HP warns that one of the key issues that businesses face is that many organizations are still reliant on legacy devices that were built to older industry standards, where design for manageable security and resilience at scale was not a focus for hardware and firmware design. This is leaving a gap in enterprise security that could take years to close.
Balacheff concludes: “As attackers continue to invest in the capability to attack and disrupt PCs and other OT and IoT devices at the firmware level, organizations also need to learn how to monitor the state of the art in device security to keep updating procurement security requirements accordingly.
“This is what will enable leading organizations to stay ahead of emerging threats and protect, detect and remediate firmware attacks at scale in the era of hybrid work.”
E-Business
NDPC to Begin Prosecution of Data Privacy Offenders from 2025
Nigeria Data Protection Commission (NDPC) will start prosecuting data privacy offenders from the beginning of 2025, according to Babatunde Bamigboye, head of the Legal Enforcement and Regulation Department of the commission.
This move is part of its efforts to enforce regulations and promote responsible data handling in Nigeria.
Bamigboye, disclosed this during a one-day cybersecurity awareness campaign with the theme “Utilising AI-Powered Services for Proactive Cybersecurity” in Abuja.
The event was organised by SOPHOS UK in collaboration with SPOKES Network and Net-Trix Solutions to foster networking with industry experts on how AI is shaping the future of cybersecurity.
Bamigboye explained that, due to the significant implications of data privacy breaches in Nigeria, the commission has embarked on awareness programmes to educate individuals on their data protection rights and inform data processors and controllers of their obligations.
To this end, he announced that beginning next year, the commission would prosecute any data controllers or processors found in breach of the law.
“At this moment, we have investigated quite a number of cases, and in terms of prosecution—as you know, as a lawyer, this means going to court—but we haven’t taken any matters to court yet.
“This is the formative stage; we understand the implications for the country as a whole. And usually, when you talk about prosecution, it also involves some criminal activities. So, at this moment, our focus has been on creating awareness.
“But from next year, we will step up enforcement in this area. What we have done so far is to take remedial actions against certain data controllers and processors who defaulted under the Act,” he noted.
He assured investors that Nigeria’s cyberspace is secure for digital transactions.
“Nigerian cyberspace is safe; otherwise, we wouldn’t be experiencing the smooth flow of digital transactions in Nigeria. It is safe but not without threats, and we are doing our best as a country to combat these threats.”
Christopher Odutola, a sales engineer at SOPHOS UK, noted in his presentation that 100% cybersecurity cannot be guaranteed, hence the need for proactive measures.
“A lot of people will come to you and say, ‘We can give you 99.9% or 100% cybersecurity.’ It’s not true.
“Nobody can provide 100% security anywhere in the world. What they can do, as I mentioned earlier, is reduce the risk for you. However, determining the extent of risk reduction is difficult.
“It’s impossible to eliminate 100% of risks anywhere in the world. What we provide is what we call a cybersecurity breach protection warranty. This warranty covers incidents such as data breaches or ransomware attacks. For instance, if you lose your files while we manage your SOC as a service, we will reimburse up to one million dollars in response costs.”
Odutola further stressed the importance of organisations reducing cyber threat risks to secure cyberspace.
“There are risks to businesses, risks from downtime, attackers, scammers, and the rest, trying to infiltrate networks.
“The risk is always high. As cybersecurity professionals, we are doing as much as possible to reduce these risks.
“The various security controls we implement—antivirus software, firewalls, email security, cloud security, network security, and others—are aimed at reducing risks. We must focus on minimising risks. For instance, we currently see risks originating from third-party suppliers and vendors.”
According to him, “We have a process called risk assessment, which helps to evaluate vendors to ensure they do not introduce risks into our environment. This is why these security controls are crucial.
“We have them in place. It’s equally important to involve senior management in the discussion, as this is often where the gap lies. Unfortunately, cybersecurity is often perceived as a cost centre.”
Harrison Oloye, chief executive officer (CEO) of Net-Trix Solutions, said the event aimed to raise awareness about cyber threats and equip users to manage potential attacks.
“What we did, as Net-Trix Solutions Limited in conjunction with Spokes Network, is to create awareness and educate the public and private sectors on how to use Artificial Intelligence (AI) to combat cyber threats.”
Speaking further on achievements in creating awareness, he said: “As part of our Corporate Social Responsibility (CSR), we educate and train as many people as possible on the dangers of cyber threats and cyber-related crimes.”
Ms. Sifon Ufot, head of Business at SPOKES Network, emphasised the need to take proactive measures against cyber threats.
“We need to stay cyber-safe because hackers working behind the scenes are not joking—they work 24/7. For us, staying proactive is essential. With the help of AI, we can stay proactive; it provides information beforehand and even prevents some attacks from reaching us.”
E-Business
Nigeria, Others Confront Flood of Cyber-Attacks
Check Point, a cyber security company has reported that Nigeria, South Africa, Kenya, and Morocco are seeing targeted cyber-attacks on government, education, and financial institutions.
In its just released 2024 African Perspectives on Cyber security report, Check Point, said that the cyber security sector is growing by 20-25% annually, fuelled by investments in infrastructure and Artificial Intelligence-driven solutions.
The report said that South Africa has seen 3,312 attacks on government institutions every week and a 90% increase in ransomware, with cybercrime costing the country nearly 1% of GDP.
Kenya, in East Africa, sees 4,719 attacks on the government sector each week, indicating an urgent need for enhanced defenses.
According to the report, Nigeria sees 4,718 attacks every week, which is one of the highest in Africa.
In a recent incident, the report states that a banking trojan assault affected 100,000 customer accounts, resulting in a $3 million loss.
Morocco is one of Africa’s most targeted countries, with 8,733 attacks on government entities reported each week, the report said.
According to Check Point, the Moroccan government recently faced a state-sponsored cyberattack that compromised classified communications, raising significant national security concerns.
“Organisations in Africa are attacked roughly 3300 times per week, if we look at the global average it is about 1 800, it is almost double the attacks,” said Hendrik de Bruin, head of security consulting at Check Point SADC during the presentation.
Check Point noted that the continent’s GDP is predicted to exceed $4 trillion by 2027, and digital infrastructure has emerged as a key driver of economic growth. However, rapid digitisation has resulted in increased vulnerability.
De Bruin explained: “We are slowly, but surely digitalising our industries, we are digitising our governments, private sectors are digitising themselves, so we have got an expanding digital attack footprint.
“We also have cloud adoption, which is not new, but picking up pace in Africa. That is another way that these attackers are using to gain access to organisations, and we also see a large uptake on cloud specific attacks as well.”
E-Business
NITDA Alerts Businesses to Rising Ymir Ransomware Threat
National Information Technology Development Agency (NITDA) has warned organisations about Ymir ransomware, describing it as a highly sophisticated cyber threat targeting corporate networks.
In an advisory released yesterday, NITDA outlined the ransomware’s advanced tactics, including memory-based execution designed to evade detection by traditional security tools.
The malware not only encrypts critical data but also exfiltrates sensitive information before encryption, demanding substantial ransoms in cryptocurrency.
“This ransomware is highly advanced and poses a significant threat to organisations, especially those in industries like healthcare, finance, and IT services that handle sensitive data,” NITDA said.
The agency warned that victims face severe operational disruptions, financial losses, and reputational damage. “Ymir’s ability to evade antivirus programs allows attackers to dwell longer in networks, expanding their reach and deepening the damage,” the advisory added.
To counter the threat, the agency urged organisations to take proactive measures, including deploying advanced endpoint detection and response solutions, updating all systems and applications with the latest security patches, and segmenting critical systems into separate network zones.
“Implementing multi-factor authentication across critical systems is crucial to preventing unauthorized access, especially for administrative accounts,” NITDA noted.
The agency also stressed the importance of a robust backup strategy. “Organisations should regularly test their backups for integrity and ensure offline copies are securely stored to avoid total data loss in the event of an attack,” it said.
NITDA emphasised the need for organisations to prioritise cybersecurity in light of evolving threats like Ymir ransomware. It encouraged businesses to seek expert guidance to strengthen their defenses against such attacks.
- News2 days ago
ALX Organises First-ever Business Showcase for its Community Entrepreneurs
- Telecom3 days ago
UNDP and Anambra State Foster Innovation with New Marketplace
- E-Financial3 days ago
CBN Issues Scam Alert, Warns of Fake SWIFT Messages Linked to Transfer Claim
- Telecom3 days ago
MTN Plans Satellite-Internet Rollout
- Telecom2 days ago
Airtel Africa-UNICEF Partnership Connects 1,200 Schools, 1M Africa Children to Digital Education
- E-Financial3 days ago
Moniepoint Crowned Financial Inclusion Champion by CBN
- E-Business3 days ago
Kaspersky, AFRIPOL Strengthen Partnership in Combating Cybercrime
- Telecom2 days ago
Treepz Embarks on Global Expansion Journey with Trade Accelerator Program