E-Financial
Kaspersky Launches New Generation of Beyond-AV Consumer Solutions in Nigeria
Kaspersky Lab has updated its key range of solutions for home users, designed to safeguard everything that is valuable to them – privacy, money, memories, piece of mind for their loved ones and much more, in addition to protecting against cyberattacks.
In the company’s essential products – Kaspersky Free and Kaspersky Anti-Virus – functions have been added to protect users against the newest and most advanced cyberthreats.
Improvements have also been made to the performance, ease of configuration and detection efficiency of the product line’s premium solutions – Kaspersky Internet Security and Kaspersky Total Security.
But most importantly, the company’s portfolio has been replenished with a completely new product – an adaptive service called Kaspersky Security Cloud, which goes even further to protect users from any problems they may encounter in the digital world.
Every person is unique – this is beyond doubt. The same is true for people’s online behaviour, which forms their individual digital world. That is why Kaspersky Lab experts have invented and patented the adaptive protection technology. Kaspersky Security Cloud combines all the best elements of the flagship solutions, including the market leading protection against cyberthreats, and adaptive “scenarios”. Adaptivity means that the service offers protection exactly when it is needed, depending on the individual’s behaviour and the device they use.
Kaspersky Security Cloud operates according to the unique security-as-a-service scheme. It is “attached” not to the device, but to its owner via their account on the My Kaspersky portal. In addition, the service is available on both an annual and monthly* subscription basis.
However, the uniqueness of the solution lies in the fact that, with the appropriate settings, the product behaves like an “adviser” that promptly tells you what to do in order to maintain a connection when it is most needed, or to avoid jeopardising your personal data when such a risk occurs.
For example: Imagine that you need to urgently send a confidential document, so you stop for a coffee in the nearest café and connect to the free Wi-Fi. However, this Wi-Fi turns out to be dangerous.
Specifically, cybercriminals can intercept all the data transmitted over it! This is not uncommon. Kaspersky Security Cloud reports this risk and, depending on the settings, automatically turns on the VPN, which securely encrypts all transmitted data. Let the hackers try to decrypt that!
Or, what if someone gets into your home Wi-Fi network and is secretly watching all your online activities – the websites you visit, the messages you send to your friends and family? Or is just using your internet for free? With the new solution from Kaspersky Lab, this is not possible, because it knows all the devices that connect to your network and keeps you informed about them.
Or, imagine that you are hurriedly entering a new password for your account on a social network, but this password is too simple and easy to hack. Kaspersky Security Cloud will protest and offer to create a more reliable password, tell you how to do it, and even help to generate one that hackers will not be able to hack for centuries. Thus, your confidential correspondence with friends will remain untouched.
Of course, a strong password is incredibly important, but what if the service itself has been hacked and all the passwords stolen? Again, this is not an uncommon occurrence.
In this case, Kaspersky Security Cloud will learn about the leak and warn the owner, prompting him or her to change the password before it is too late, that is, before their personal data becomes available for sale on the Darknet.
And what if you are late for an important meeting (a job interview or a date, for example), and your smartphone battery suddenly dies so you cannot warn the person waiting for you? With the Kaspersky Lab solution, this situation is highly unlikely.
Not only does it constantly report unsafe device settings and unnecessary applications, it also prompts in advance how much time is left until your Android’s battery is completely discharged.
Or yet another nervous situation: the hard drive in your laptop is dead with all your valuable files – the pet photos, the wedding video, the coursework that needs to be handed in tomorrow…not with Kaspersky Security Cloud! The solution does not only allow you to make regular backups, but also warns in advance if it suspects that the hard disk is close to failing.
These and other “scenarios” are embedded in Kaspersky Security Cloud, and they are being constantly replenished. Thus, the new adaptive service allows people to always stay connected and protect their data.
“While developing Kaspersky Security Cloud, we were guided by the desire to create a service that could provide the right protection at the right time.
People’s digital lives of today are much more than just a device connected to the Internet, they are a whole world that is no less important than the physical one.
And each person has their own domain, which means each person needs special protection that suits their unique digital lifestyle. We believe that the future lies with security solutions that will adapt to the individual, to each member of their family, to their environment and behaviour.
Kaspersky Security Cloud is our first step towards this future,” says Riaan Badenhorst, General Manager, Kaspersky Lab Africa.
Kaspersky Security Cloud is currently available online in three versions. The Free version has a limited number of scenarios, it only applies to one account and three devices at a time.
The Personal version provides full service functionality for one account and five devices. The Family version covers up to 20 accounts and up to 20 devices.
Ola Olukoyede, chairman, Economic and Financial Crimes Commission (EFCC), has announced that the body has recovered lost funds from the CBEX fraud scheme.
Olukoyede did not announce the amount recovered, but he assured Nigerians that the EFCC is taking action against the promoters of the scheme.
The EFCC Chairman emphasised that the suspects found are facing prosecution.
“We have found a lot of people culpable. Those who promoted that scheme are within our jurisdiction and have been arrested. So, at this moment, they are being prosecuted. And we can also say that money has been recovered, even though the process is still ongoing for us to finally forfeit it,” he said.
Olukoyede also urged Nigerians to exercise caution when investing their resources into online platforms.
“Ponzi schemes remain one of the most pervasive threats facing unsuspecting investors. The CBEX case is a clear example. We all remember the outcry that followed the collapse of the scheme, but these unfortunate situations are preventable. Nigerians must begin to conduct due diligence before committing their resources to such platforms,” Olukoyede said.
He also stressed that the body remains committed to fishing out the culprits and recovering the lost funds.
“It was only when the bubble burst that people wanted EFCC to perform magic and recover their money. In the case we investigated in Lagos, which we dubbed Operation Flush, we arrested a large number of foreigners involved in various cybercrimes, including CBEX. I want Nigerians to know that as of today, we have secured close to 150 convictions. Some of them are already serving their jail terms. And when they are through with that, we are going to send them back to where they came from. So we are monitoring them,” he added.
He urged the public to stay vigilant, assuring them that the body will see the case to the end.
“We are no longer the EFCC that drops cases halfway. Whatever we start, we will finish. Nigerians should trust us and believe in our capacity to do justice. Some of these cases are complex and may require cross-border investigations, but we are up to the task,” he said.
E-Financial
Financial Fraud in Nigeria Surges by 45 Percent, 70 Percent of Losses Linked to Digital Platforms – CBN
Central Bank of Nigeria (CBN) has raised the alarm over a significant rise in financial fraud cases in the country, revealing that fraud surged by 45% within one year, with 70 Percent of the resulting losses traced to digital channels, particularly unregulated virtual asset platforms.
Olayemi Cardoso, governor, CBN,
This was disclosed by Olayemi Cardoso, governor, CBN, in a speech delivered on his behalf by Muhammad Sani Abdullahi, deputy governor for Economic Policy, at a public lecture organized by the Economic and Financial Crimes Commission (EFCC) on Thursday in Abuja.
He added that findings from the CBN’s Financial Stability Report 2024 reveal a sharp increase in fraud.
“The CBN Financial Stability Report 2024 reveals a 45% surge in financial fraud cases, with 70% of losses linked to digital channels, including unregulated virtual asset platforms. Furthermore, over 30 Ponzi-style investment schemes exploiting digital currency narratives have been flagged by the SEC and other agencies.
“These developments pose major risks, including loss of consumer confidence, weakening of financial integrity and reputational challenges for Nigeria in the global financial system.
“In Nigeria, over $56 billion in crypto-related transactions were recorded between July 2022 and June 2023, making us Africa’s digital transaction leader. But this growth is not without consequences,” Cardoso stated.
Cardoso noted that while digital innovation has enabled broader financial inclusion, it has also introduced complex regulatory and security challenges.
“The present era of rapid technological transformation has made the adoption of digital financial services in Nigeria, including cryptocurrencies and tokenized investments, increase exponentially.
“The surge in digital innovation has brought benefits, such as greater financial inclusion and also given rise to complex challenges, such as fraud and money laundering,” he stated.
Emomotiti Agama, director general, Securities and Exchange Commission (SEC), emphasized the growing risks posed by virtual asset fraud to investor confidence and market integrity.
“Corruption remains a significant impediment to Africa’s economic growth, social development, and investor confidence.
“Today, as digital innovation transforms financial systems, we face new challenges, particularly the rise of virtual asset fraud and sophisticated investment scams, exploiting unsuspecting investors.
“These threats undermine market integrity, erode trust, and divert resources meant for sustainable development,” he said
Agama reiterated the SEC’s dedication to enhancing investor protection through increased education and awareness on how to identify and avoid fraudulent schemes.
He also emphasized the Commission’s efforts to update regulatory frameworks in response to emerging risks in virtual assets and digital investments, while promoting international cooperation to tackle corruption and illicit financial flows.
Malam Lanre Issa-Onilu, director general, National Orientation Agency (NOA), commended the EFCC for its efforts in combating financial crimes. He warned that the human cost of fraud extends far beyond the financial system.
“Experience has shown that deception is foundational to fraud, and if its impact goes far deeper, it undermines citizens’ confidence in their country. Every Naira lost to fraud causes far-reaching effects.
“It is about a child pulled out of school, a livelihood ruined, and an enterprise destroyed. These crimes are not abstract. They affect people, and our country pays dearly for it.”
He said the NOA had launched a nationwide campaign against the “get rich quick” mentality among Nigerians.
“At the National Orientation Agency, we believe that value orientation is our most powerful tool. That is why we launched a nationwide campaign several months ago against the spread of get-rich-quick syndrome. The initiative is helping all Nigerians, especially young people, to understand that lasting success comes from honesty and hard work, and it takes time.”
Hussaini Ishaq Magaji, registrar general, Corporate Affairs Commission (CAC), stressed the need for regulators, institutions, and stakeholders to remain vigilant and proactive in addressing emerging threats such as fraud, money laundering, and financial manipulation.
Magaji noted the CAC’s ongoing collaboration with the Securities and Exchange Commission (SEC) and other sector-specific regulators to strengthen corporate governance and enforce compliance, ensuring transparency and accountability within Nigeria’s financial ecosystem.
Emomotimi Agama, Director General, Securities and Exchange Commission (SEC) has expressed concern over the growing threat of digital assets fraud, warning that it poses a significant challenge to market integrity and undermines investor confidence.
Speaking in Abuja at an event to mark African Union Anti-Corruption Day, themed “Understanding Virtual Assets and Investment Fraud”, Agama noted that corruption continues to be a major obstacle to Africa’s economic growth, social development, and attractiveness to investors.
He stated: “Today, as digital innovation transforms financial systems, we face new challenges, particularly the rise of virtual asset fraud and sophisticated investment scams exploiting unsuspecting investors. These threats undermine market integrity, erode trust, and divert resources meant for sustainable development”.
He explained that the SEC, as a frontline regulator, remains committed to “strengthening investor education on recognising and avoiding fraudulent schemes.; Enhancing regulatory frameworks to keep pace with evolving risks in virtual assets and digital investments; and Fostering cross-border collaboration to combat corruption and illicit financial flows”.
He stated that the Investment and Securities Act (ISA) 2025 introduced key provisions to regulate virtual assets (cryptocurrencies, digital tokens, and other blockchain-based assets) in Nigeria, with Commission as the primary regulator for virtual assets classified as securities or investment products.
Agama stated that all Virtual Asset Service Providers (VASPs) (exchanges, custodians, brokers) must obtain SEC approval and meet capital, governance, and cybersecurity standards.
On risk disclosures, the SEC DG noted that all platforms must warn investors about volatility, fraud, and regulatory risks, warning that there are stiff penalties for market manipulation, insider trading, and Ponzi schemes.
“The ISA 2025 provides a comprehensive legal framework for virtual asset regulation, balancing innovation, investor protection, and financial stability. The SEC will continue to issue guidelines to ensure compliance while fostering a secure digital asset ecosystem.
“We urge all stakeholders—governments, private sector players, civil society, and citizens—to join forces in promoting transparency, accountability, and ethical practices. Together, we can build resilient markets that drive Africa’s prosperity”, he added.
In his remarks, Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC) described virtual asset fraud as a fast-evolving threat to national economic security. “Another rising criminal engagement that has a potential to outpace, even money laundering, on the continent is virtual assets and investment scam”
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