E-Business
Ransomware Attack: Only 26 Percent of Retail Organizations Were Able to Halt Cybercriminals from Encrypting Their Data- Sophos
Sophos, a global leader in innovating and delivering cybersecurity as a service, on Thursday shared findings from its sector survey report, “The State of Ransomware in Retail 2023,” which found that only 26% of retail organizations this past year were able to disrupt a ransomware attack before their data was encrypted.
This is a three-year low for the sector—a decline from 34% in 2021 and 28% in 2022—suggesting the sector is increasingly unable to halt ransomware attacks already in progress.
“Retailers are losing ground in the battle against ransomware. Ransomware criminals have been encrypting increasingly greater percentages of their retail victims in the last three years, as evidenced by the steadily declining rate of retailers stopping cybercriminal attacks in progress. Retailers must up their defensive game by setting up security that detects and responds to intrusions earlier in the attack chain,” said Chester Wisniewski, director, global field CTO, Sophos.
In addition, the report found that, for those retail organizations that paid the ransom, their median recovery costs (not including the ransom payment) were four times the recovery costs of those that used backups to recover their data ($3,000,000 versus $750,000).
“Forty-three percent of retail victims paid the ransom according to our survey respondents, yet the median recovery cost to victims who paid the ransom was four times the cost to those who used backups and other recovery methods. There are no shortcuts in these situations and rebuilding systems is almost always required. It’s better to deprive the criminals of their spoils and build back better,” said Wisniewski.
Additional key findings from the report include:
· In line with a broader, cross-sector trend, the retail sector experienced its highest rate of encryption over the past three years, with 71% of those organizations targeted by ransomware stating that attackers successfully encrypted their data
· The percentage of retail organizations attacked by ransomware declined from 77% last year to 69% this year
· The percentage of retail organizations that recovered in less than a day decreased from 15% to 9% this year, while the percentage of retail organizations that took more than a month to recover increased from 17% to 21%
Sophos recommends the following best practices to help defend against ransomware and other cyberattacks:
· Strengthen defensive shields with:
o Security tools that defend against the most common attack vectors, including including endpoint protection with strong anti-ransomware and anti-exploit capabilities
o Zero Trust Network Access (ZTNA) to thwart the abuse of compromised credentials.
o Adaptive technologies that respond automatically to attacks, disrupting adversaries and buying defenders time to respond.
o 24/7 threat detection, investigation and response, whether deliveredin-house or by a specialized Managed Detection and Response (MDR) provider
· Optimize attack preparation, including regularly backing up, practicing recovering data from backups and maintaining an up-to-date incident response plan
· Maintain security hygiene, including timely patching and regularly reviewing security tool configurations
To learn more about the State of Ransomware in Retail 2023, download the full report from Sophos.com.
The State of Ransomware 2023 survey polled 3,000 IT/cybersecurity leaders in organizations with between 100 and 5,000 employees, including 355 from the retail sector, across 14 countries in the Americas, EMEA and Asia Pacific.
A $60 billion Africa AI Fund is set to be established, leveraging public, private, and philanthropic capital. The goal is to build a secure, inclusive, and competitive African AI economy through foundational and catalytic investment, according to a declaration made at the recent Global AI Summit on Africa in Kigali, Rwanda.
The declaration seeks to leverage the potential of AI to drive innovation and competitiveness to advance Africa’s economies, industries, and societies. Second, to position Africa as a global leader in ethical, trustworthy, and inclusive AI adoption.
The declaration also seeks to foster the sustainable and responsible design, development, deployment, use, and governance of AI technologies in Africa.
The memorandum was facilitated by Qhala, Smart Africa, Rwanda’s Centre for the Fourth Industrial Revolution, and supported by the Gates Foundation.
Qhala is an AI enabler dedicated to driving innovation and digital transformation across Africa.
In a statement, Qhala said the declaration outlines shared commitment among African nations to align national strategies with continental goals, safeguard data sovereignty, build digital infrastructure, and foster a sustainable AI innovation ecosystem.
The organisation went on to say Africa’s AI landscape is changing at a fast pace and it is projected to contribute $2.9 trillion to the African economy by 2030.
Shikoh Gitau, CEO of Qhala, said: “This declaration is timely, as Africa’s AI ecosystem is rapidly evolving but remains fragmented and underfunded. This will ensure that Africa takes its place in a leadership role in global AI development.”
Lacina Koné, CEO of Smart Africa, added: “AI is not just technology to us, it’s an African arrow that, when thrown with the right ethical frameworks and inclusive policies, can pierce the way to African digital prosperity and resilience for the benefit of every citizen.”
Federal government has announced plans to roll out an electronic visa (e-visa) system by May 1, 2025, in a major step towards modernising Nigeria’s immigration processes.
The initiative, a collaborative effort between the Ministry of Aviation and Aerospace Development and the Ministry of Interior, is designed to tighten border security while simplifying travel procedures for visitors.
Speaking at a press conference in Abuja on the implementation of immigration protocols under the Migration Visa Policy (MVP) 2025, Olubunmi Tunji-Ojo, minister of Interior, outlined the far-reaching benefits of the new system.
He explained that the e-visa platform, alongside the automation of landing and exit card processes, would strengthen background checks and deter unauthorised entry into the country.
“With the e-visa, applications will be processed online, and a centralised visa approval centre is already operational at the Immigration headquarters,” Tunji-Ojo revealed.
“Officers have been trained and equipped with integrated solutions connected to global criminal databases such as Interpol, enabling thorough background checks for all incoming travellers.”
The new procedure mandates that passengers must complete an online landing and exit card before boarding their flight.
This information will be cross-verified by airlines in collaboration with the Nigerian Civil Aviation Authority (NCAA).
According to the minister, this integration ensures that anyone attempting to enter or exit Nigeria without proper clearance will be flagged immediately.
“The responsibility of coordinating and verifying this process rests with the NCAA. They are fully committed, as we all are, to safeguarding our nation’s borders and upholding our sovereignty,” he added.
The collaboration between the ministries has already yielded tangible results through initiatives like the EPIC Solution, an advanced passenger information system that has led to the interception of individuals flagged by Interpol at Nigerian borders.
Furthermore, e-gates have been installed at key terminals in Lagos and Abuja airports to support automated, efficient, and secure passenger clearance.
Tunji-Ojo announced that in the coming weeks, the NCAA and the Nigeria Immigration Service (NIS) will jointly establish a dedicated team to finalise the implementation framework, regulatory guidelines, and protocols for airlines.
“This is not a task for one agency alone. It is an inter-ministerial effort requiring seamless cooperation,” he emphasised.
Mr. Festus Keyamo, SAN, minister of Aviation, described the partnership as a model of effective governmental collaboration. He highlighted that both the e-visa and the automated landing and exit card systems will be free of charge, ensuring accessibility while reinforcing security.
Keyamo provided further details on the operational flow of the new system, explaining that travellers will be required to complete an entry card online before their arrival.
The digital system will store their details, including visa type, entry date, and permitted duration of stay. Upon departure, passengers must present their exit cards at the airline’s check-in desk, where the NCAA’s protocol will be applied.
“As you prepare to leave Nigeria, the first checkpoint will be the airline’s boarding desk,” Keyamo explained.
“If you’re a foreign traveller, they will ask for your exit card. Without it, you won’t be issued a boarding pass.”
The process is designed to trigger automatic verification: once the traveller enters their passport number, the system retrieves their entry data and duration of stay.
Should any irregularities arise—such as overstaying a visa – the airline, following NCAA protocol, will refuse to board the passenger and refer them to immigration authorities.
“When you approach immigration, officers will have complete visibility of your travel history and status. Depending on the nature of the violation, they may issue fines, cancel visas, or impose travel bans of up to 10 years,” Keyamo stated.
Both ministers underscored that the overarching goal is to enhance Nigeria’s national security, curb illegal immigration, and create a seamless, digital travel experience.
With this modernised approach, the country aims to align with global best practices while maintaining its sovereignty.
As preparations advance toward the official launch date, authorities are optimistic that the e-visa system will not only improve efficiency but also bolster Nigeria’s reputation as a secure and welcoming destination for legitimate travellers.
National Identity Management Commission (NIMC), has announced that operatives of the Department of State Security and Nigeria Police Force have arrested suspects involved in the illegal collection of National Identity Numbers (NIN), in Anambra State.
This comes as the commission also warned Nigerians against sharing their National Identity Number with unauthorised persons in exchange for money.
Dr. Kayode Adegoke, spokesman for NIMC issuedthis warning in a statement on Wednesday.
This follows reports of some Anambra residents submitting their NIN to unauthorised individuals in exchange for money.
Reacting, NIMC said the activities contravene NIMC Act No. 23, 2007, the Data Protection Act, and the Cyber Crime Act.
The commission said individuals involved in the act have been arrested by operatives of the Department of State Security and the Nigeria Police Force.
“Upon receiving the information on the activities of the unscrupulous individuals, NIMC, in conjunction with the Department of State Services (DSS) and the Nigeria Police Force (NPF), swiftly arrested the culprits behind the illegal collection of the NIN.
“They are currently being interrogated and will be made to face the full wrath of the law. The commission, therefore, advises Anambra State residents and Nigerians to avoid submitting their NINs to unauthorised individuals, organisations, or platforms, as the Federal Government and NIMC have not authorised this. Anyone caught will be sanctioned appropriately.
“At no time should NIN holders give out their NINs for monetary compensation. This is against the laws of the Federation. Anyone caught will be dealt with appropriately.
“The Commission had earlier issued a statement warning Nigerians against sharing their NIN or data with anyone or on any fictitious sites. The NIN can only be used by the holders to access government or private sector services, and it must be verified.
“The Commission has taken necessary measures to kerb the activities of these unscrupulous individuals,” NIMC stated.
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