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E-Business

Kaspersky says SIM Swap Fraud is Targeting Africa’s Financial, Online Services

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Kaspersky Lab experts at its annual Cyber Security Weekend discussed the wide spread growth of mobile payments across the globe and the many cyber risks that surround such technology, especially the recent SIM swap fraud wave which have become very common in Africa and the wider region.

A SIM swap fraud happens when someone convinces your carrier to switch your phone number over to a SIM card that a criminal possesses.

In some cases, there are carrier’s employees working together with criminals. By diverting your incoming SMS messages, scammers can easily complete the text-based two-factor authentication checks that protect your most sensitive accounts in financial services, social networks, webmail services and instant messengers.

Many African countries are suited to mobile payment methods. In fact, research notes that at the end of 2017, there were 135 live mobile money services across the Sub-Saharan African region, with 122 million active accounts.

While payment methods through mobiles offer a convenience that is hard to debate, Kaspersky Lab research shows that mobile payments and the banking system are suffering a wave of attack – mostly powered by SIM swap fraud – and people are losing their money as a result.

This type of attack is used to not only steal credentials and capture one-time passwords (OTPs) sent via an SMS, but also to cause financial damage to victims, resetting the accounts on financial services, allowing to the fraudsters access to currency accounts not only in banks but also in fintechs and credit unions.

Fraudsters are also using it as way to steal money using WhatsApp, loading the messages in a new phone, contacting the victim’s contacts asking for money, simulating an emergency situation.

“Despite financial inclusion services prospering, the flip side to this is that it opens up a world of opportunities to cybercriminals and fraudsters who are using the convenience a mobile phone offers to exploit and poke holes in a two-factor authentication processes. Frauds using SIM swap are becoming common in Africa and Middle East, affecting countries like South Africa, Turkey and UAE.

Countries like Mozambique have experienced this firsthand. The implemented solution, by banks and mobile operators in Mozambique, as a result, is something I believe we must learn from and encourage other regions to investigate and apply, among other aspects, to mobile payment methods of the future – as a way to ensure that mobile phones do not become an enemy in our pockets,” said Fabio Assolini, Senior Security Researcher of Kaspersky Lab.

The total money lost in the attacks varies by country: there are extreme cases, such as one in the United Arab Emirates, where one victim lost $ 1 million, while in South Africa one victim reported losing $ 20,000.

“In average fraudsters can steal $2,500 to $3,000 per victim, while the cost to perform the SIM swap starts with $10 to $40,” conclude Assolini.

In order to protect the growing mobile digital life and payment methods, Kaspersky Lab recommends the following key considerations: Voice and SMS methods avoided as authentication methods for payments – OTPs in mobile apps like Google Authenticator or the use of physical tokens should be used.

Biometrics – there is no better authentication than that of a physical characteristic. Voice authentication is an option that can be investigated further.

An automated ‘Your number will be deactivated’ message – to be shared upon SIM swap request. This will support the user to report the activity, if it is not legitimate, faster.

Activate 2FA on WhatsApp – in an attempt to minimize WhatsApp hijacking, activating Two-factor authentication using a six-digit PIN on your device is critical. This supports the user in having an additional layer of security on the device.


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E-Business

FG Launches Online Visa Approval Centre

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Dr. Olubunmi Tunji-Ojo, minister of Interior, has announced the launch of an Online Visa Approval Center to eliminate bureaucratic bottlenecks and reduce corruption in the visa application process.

FG Launches Online Visa Approval Centre

Commissioned by the President in December, the new system ensures that applicants no longer need to visit a visa office, know anyone in the system, or lobby for approvals.

At a stakeholders’ sensitisation workshop on the implementation of the Nigeria Visa Policy (NVP) 2025, yesterday in Abuja, Dr. Tunji-Ojo said the visa is considered a very important document by the government because it is an instrument of migration management and an instrument of economic development.

The minister explained that Nigeria has to strike a delicate balance between national security and, of course, the ease of migration.

“And we think that it’s something that we can do and something we will do.

“We don’t have a physical Visa Approval Center. If you apply for a Nigerian visa anywhere in the world, you do so online. We process it here in Nigeria, and if approved, you receive your e-visa in your email,” he explained.

To enhance efficiency, the government has set a 48-hour deadline for processing e-visas.

“It is unprofessional and unacceptable for the Nigeria Immigration Service not to approve or provide feedback within 48 hours,” the minister stated.

“It breaks my heart that people need to lobby to even get visas to Nigeria. It shouldn’t be so. It shouldn’t be.

“For anybody that is qualified, for anybody that wants to do legitimate activities in Nigeria, such people should be able to come to Nigeria easily. And this is why we are opening our space. Mr. President is interested in foreign direct investments.”

Further, he said Nigeria is interested in partnering with the rest of the world to develop its economy but, “We can’t do that when we allow bottlenecks to hold us down. So these reforms, basically, are aimed at opening our space, enhancing national security, and we hope that the primary responsibilities of the visa scheme will be achieved.”

Kemi Nandap, controller general, Nigeria Immigration Service (NIS), said the NIS would fully digitize its e-visa platform and reduce visa classifications from 79 to 44 to enhance accessibility, transparency, and efficiency in the new visa policy.

She said, “At the core of this policy is the new e-visa platform—a fully digitized, centralized system that revolutionizes how foreign nationals interact with our country’s entry procedures. As part of this transformation, the Nigerian Visa Policy 2024 underwent a comprehensive review, resulting in a significant reduction in visa classifications from 79 to 44.

“These categories have been logically grouped to simplify procedures, reduce complexities, and greatly improve the user experience. Importantly, we have maintained the original purpose and intent of each visa class throughout this reform.”

 


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NITDA Partners JICA to Launch Nigeria-Japan Startup Hub

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Mr. Takao Shimokawa, director general, Economic Development Department at the Japan International Cooperation Agency (JICA) has visited the National Information Technology Development Agency (NITDA) to discuss the forthcoming launch of the Nigeria-Japan Startup Hub Project.

NITDA Partners JICA to Launch Nigeria-Japan Startup Hub

Mr. Dejo Olawunmi, director of IT Infrastructure Solutions at NITDA and Mr. Takao Shimokawa, director general, Economic Development Department at the Japan International Cooperation Agency (JICA)

This is in a strategic move to strengthen Nigeria’s startup ecosystem.

During his visit, Mr. Shimokawa was received by Mr. Dejo Olawunmi, director of IT Infrastructure Solutions at NITDA.

Their discussions focused on advancing technological innovation, fostering entrepreneurship, and enhancing venture capital development to support early-stage startups in Nigeria.

The Nigeria-Japan Startup Hub Project is designed to provide Nigerian startups with access to Japanese expertise, mentorship, and investment opportunities.

The initiative aims to create a collaborative environment where local entrepreneurs can scale their businesses by leveraging Japan’s advanced technology and business models.

By bridging Nigerian startups with Japanese investors and industry leaders, the project seeks to drive sustainable growth and innovation in Nigeria’s tech industry.

This partnership underscores the increasing economic and technological cooperation between the two nations, positioning Nigeria as a key player in the global startup landscape.

With the hub set to launch soon, stakeholders anticipate that it will provide critical resources for startups, enabling them to compete in the global market and contribute to Nigeria’s digital economy.

 


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Firm Discovers Sophisticated Chrome Zero-day Exploit Used in Active Attacks

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Kaspersky has identified and helped patch a sophisticated zero-day vulnerability in Google Chrome (CVE-2025-2783) that allowed attackers to bypass the browser’s sandbox protection system.

The exploit, discovered by Kaspersky’s Global Research and Analysis Team (GReAT), required no user interaction beyond clicking a malicious link and demonstrated exceptional technical complexity. Kaspersky researchers have been acknowledged by Google for discovering and reporting this vulnerability.

In mid-March 2025, Kaspersky detected a wave of infections triggered when users clicked personalised phishing links delivered via email. After clicking, no additional action was needed to compromise their systems.

Once Kaspersky’s analysis confirmed that the exploit leveraged a previously unknown vulnerability in the latest version of Google Chrome, Kaspersky swiftly alerted Google’s security team. A security patch for the vulnerability was released on March 25, 2025.

Kaspersky researchers dubbed the campaign “Operation ForumTroll”, as attackers sent personalised phishing emails inviting recipients to the “Primakov Readings” forum. These lures targeted media outlets, educational institutions, and government organisations in Russia.

The malicious links were extremely short-lived to evade detection, and in most cases ultimately redirected to the legitimate website for “Primakov Readings” once the exploit was taken down.

The zero-day vulnerability in Chrome was only part of a chain that included at least two exploits: a still-unobtained remote code execution (RCE) exploit that apparently launched the attack, while the sandbox escape discovered by Kaspersky constituted the second stage. Analysis of the malware’s functionality suggests the operation was designed primarily for espionage. All evidence points to an Advanced Persistent Threat (APT) group.

“This vulnerability stands out among the dozens of zero-days we’ve discovered over the years,” said Boris Larin, principal security researcher at Kaspersky GReAT. “The exploit bypassed Chrome’s sandbox protection without performing any obviously malicious operations – it’s as if the security boundary simply didn’t exist.

The technical sophistication displayed here indicates development by highly skilled actors with substantial resources. We strongly advise all users to update their Google Chrome and any Chromium-based browser to the latest version to protect against this vulnerability.”

Google has credited Kaspersky for uncovering and reporting the issue, reflecting the company’s ongoing commitment to collaboration with the global cybersecurity community and ensuring user safety.

Kaspersky continues to investigate Operation ForumTroll. Further details, including a technical analysis of the exploits and malicious payload, will be released in a forthcoming report once Google Chrome user security is assured.

Meanwhile, all Kaspersky products detect and protect against this exploit chain and associated malware, ensuring users are shielded from the threat.

This discovery follows Kaspersky GReAT’s previous identification of another Chrome zero-day (CVE-2024-4947), which was exploited last year by the Lazarus APT group in a cryptocurrency theft campaign.

In that case, Kaspersky researchers found a type confusion bug in Google’s V8 JavaScript engine that enabled attackers to bypass security features through a fake cryptogame website.

 


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