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E-Business

ICS Financial Systems Marks 3rd Success at BoICT Awards

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ICSFS, the global software and services provider for banks and financial institutions, is recognised for the third consecutive year by the readers of Nigeria CommunicationsWeek as “the Banking Software of the Year 2012″ in Beacon of ICT Awards, which is the only ICT merit-centric recognition and award celebration in Nigeria.

 The event took place on April with more than 120 guests from the ICT industry were in attendance to celebrate the winners of the Beacon of ICT Awards, which is known to be one of the biggest red carpet events in Nigeria.

 The theme of this year’s celebrations is “Technology Adaption; Looking IT Straight in the Eye”. This year over 55,000+ Nigerians voted in different categories to the organizations and individuals who have left an indelible imprint on the Nigerian ICT Market.

 Mr. Chike Onwuegbuchi, deputy editor-in-chief at Nigeria CommunicationsWeek,  stated, “ICS BANKS® is recognized as the “Banking Software of the Year” for being the powerhouse in providing comprehensive financial data management and clients’ customer information. Nigerians have recognized ICSFS’ hard work, sincerity and dedication towards the growth of ICT in the banking sector of the country by voting for ICS BANKS®. Users are particularly happy that ICSFS’ commitment to every client bank extends far beyond providing software systems and automation solutions. ICS BANKS® Integrated Core Banking module manages banking client’s head office and branch financial activities for clients’ customers on all levels. ICS BANKS® System is a multi-currency, branch, bank and language built on an open architecture fully scalable to any financial institution size.”

 Robert Hazboun, managing director of ICSFS; commented on this occasion, “We are delighted to be adding such a prestigious award to our industry accolades for the third time in a row. We are proud of the significant success we’ve had in Nigeria this year, as this award highlights our footprints in the Nigerian ICT Market while considering the rapidly changing environment. We will continue to leverage the spirit of innovation and technological breakthroughs into our products and deliver market-leading banking solutions.”

 The awards were instituted by Communication Week Media Limited, publishers of Nigeria CommunicationsWeek, the fiercely independent weekly ICT newspaper covering the knowhow of e-business, broadcasting, courier, computing, telecom, ICT career, and any other ICT business, and are uniquely placed to view government and business organizations as well as individuals’ contributions, creativity and excellence in the application of ICTs and solutions.

 It is worth mentioning that ICS BANKS® provides a complete suite of banking business modules with a rich sweep of functionality and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance.

ICS BANKS® has always been a pioneer in utilizing the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system is deployed in a multi-tiered setup that runs on a web thin client, J2EE environment.


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E-Business

Massive Cyberattack on X Sparks Worldwide Service Disruptions

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Elon Musk, owner of X
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X, formerly known as Twitter, experienced a massive cyberattack on Monday and Tuesday, leading to widespread service disruptions across multiple countries, including the United States, Canada, and the United Kingdom.

Massive Cyberattack on X Sparks Worldwide Service Disruptions

The incident, which saw two major spikes in user complaints, left many unable to access the platform, with reports of outages particularly concentrated on the U.S. coasts.

Elon Musk, owner of X, described the incident as a “massive cyberattack” and hinted at the possibility of foreign involvement, suggesting the attack may have originated from Ukraine.

However, cybersecurity experts have advised caution in drawing conclusions, as initial investigations indicate that the attack was carried out using a variant of the Mirai botnet, a tool often used in large-scale distributed denial-of-service (DDoS) attacks. This botnet employs compromised devices worldwide, making attribution difficult.

The cyberattack comes amid growing concerns over the security of major social media platforms and follows a series of challenges for Musk.

His leadership at X has faced scrutiny over policy changes, while his other ventures, such as Tesla, have recently struggled with declining sales and public backlash over aggressive cost-cutting measures.

The disruption at X has also led to increased conversations on rival social media platforms like BlueSky, where users expressed frustration over the outage.

While Musk has not provided technical details on the scale of the attack, cybersecurity analysts suggest that this incident underscores the vulnerabilities of major online platforms and the complexities in tracing the source of such sophisticated cyber threats.

Authorities and cybersecurity firms are expected to conduct further investigations to determine the true origin and intent behind the attack.

 

 


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Kaspersky Uncovers Sophisticated Deception Campaign using DeepSeek AI as Bait

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Security researchers at Kaspersky have revealed how cybercriminals used geofencing, compromised business accounts and coordinated bot networks to distribute malware disguised as DeepSeek AI software, generating over 1.2 million views on X.

Kaspersky’s Threat Research and AI Technology Research have jointly identified a sophisticated deception campaign exploiting the rapid growth and public interest surrounding DeepSeek AI — a popular generative AI chatbot — in order to distribute malware through fraudulent websites.

In their investigation, Kaspersky researchers revealed that cybercriminals established deceptive replicas of the official DeepSeek website, using domain names like “deepseek-pc-ai[.]com” and “deepseek-ai-soft[.]com.”

A distinctive feature of this campaign was its use of geofencing technology, where malicious websites examine each visitor’s IP address and dynamically alter content presentation based on geographic location, enabling attackers to fine-tune their approach and reduce detection risks.

“This campaign demonstrates notable sophistication beyond typical social engineering attacks,” explained Vasily Kolesnikov, senior malware analyst at Kaspersky Threat Research.

“Attackers exploited the current hype around generative AI technology, skillfully combining targeted geofencing, compromised business accounts and orchestrated bot amplification to reach a substantial audience while carefully evading cybersecurity defenses.”

According to Kaspersky’s analysis, the campaign’s primary distribution channel was the social media platform X. Attackers strategically compromised the social media account of a legitimate Australian company to widely disseminate fraudulent links. This single malicious post drew significant attention, reaching approximately 1.2 million impressions and generating hundreds of reposts.

Researchers determined that these reposts largely originated from coordinated bot accounts — evident due to their similar naming conventions and profile characteristics — indicating a deliberate amplification of the malicious content.

Visitors lured to the fraudulent websites were directed to download a fabricated DeepSeek client application. Instead of the authentic software, these sites delivered malicious installers using the Inno Setup installation platform.

Once executed, these compromised installers attempted to contact remote command-and-control servers to retrieve Base64-encoded PowerShell scripts. These scripts subsequently activated Windows’ built-in SSH service, reconfigured it with attacker-controlled keys and enabled full remote unauthorised access to compromised systems.

All malware payloads connected to this campaign are proactively identified and blocked by Kaspersky security products such as Trojan-Downloader.Win32.TookPS.* variants.


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GBB to Train Over 300 Civil Servants on Govmail

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Galaxy Backbone (GBB), the nation’s foremost digital infrastructure and services provider, is set to train over 300 civil servants, including Email Administrators and Heads of ICT, on the adoption, management, and administration of Govmail—the secure official email platform for Nigeria’s public sector.

The training, which will be conducted in batches throughout the month of March 2025, aims to ensure maximum impact and effective knowledge transfer.

This initiative is in alignment with the Federal Government’s digitalisation agenda, which prioritizes secure, efficient, and technology-driven governance. By equipping civil servants with the necessary expertise to optimize Govmail, the government is ensuring seamless communication across Ministries, Departments, and Agencies (MDAs) while strengthening data security and operational efficiency.

Prof. Ibrahim Adeyanju, the Managing Director/CEO of Galaxy Backbone, reaffirmed the organisation’s commitment to driving Nigeria’s digital transformation through innovative and secure technology solutions.

“As the nation’s leading provider of digital infrastructure, GBB is playing a pivotal role in ensuring that government communications are secured, professional, and aligned with global best practices. This training will enhance civil servants’ ability to effectively utilize Govmail in carrying out their official responsibilities,” he stated.

The training is being conducted in collaboration with the Office of the Head of the Civil Service of the Federation (OHCSF), who has sent out a Circular to all MDAs informing them of this specialized training aimed at providing hands on experience with GOVMAIl features and ensure uniform adoption of and compliance with government approved digital communications standards. This further reinforces the government’s commitment to a digitally-driven public service.

It would be recalled that the Head of the Civil Service of the Federation recently described Govmail as a ‘game changer’ for government communication. This underscores the significance of the platform in enhancing inter-agency collaboration, data sovereignty, and information security across all MDAs.

Through this capacity-building initiative, GBB is reinforcing its role as a key enabler of Nigeria’s digital transformation journey, ensuring that public sector professionals are well-equipped to harness the full potential of digital tools in their daily operations.


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