E-Business
Trend Micro’s Device Blocks Malicious Mails Targeted @ Nigerians
Trend Micro Incorporated, global cybersecurity leader, has said it blocked more than 10 million email threats, over 800, 000 malicious Uniform Resource Locator (URLs) and almost 4, 500 malicious mobile applications targeted at Nigerian businesses and consumers between January and June, this year.
In a statement, the firm said it happened when the complexity of the country’s cybersecurity threat landscape continues to intensify.
The statement said the findings were brought to life by the Trend Micro 2023 Midyear Cybersecurity Threat Report, which presents highlights from the company’s telemetry covering the broadest attack surface view across millions of commercial and consumer clients.
The report also uncovers key trends in criminal techniques, tactics and threat actor activity, providing important guidance for defenders looking to stay one step ahead of calculating cyber criminals.
Gareth Redelinghuys, country managing director, African Cluster, Trend Micro, said: “With each passing month, the local threat landscape becomes more intricate and convoluted. Our latest research shows that illegal actors are shifting targets and getting increasingly creative to become more efficient and prolific. Prioritising a set of proactive and holistic security solutions has never been more important.”
Furthermore the statement stated that during the first half of 2023, around 2.4 million malware families were blocked by Trend Micro in Nigeria.
“Ransomware, in particular, is a challenge for local companies, with hundreds of ransomware detections in June alone. However, the Midyear Report offers valuable insight into the ways in which ransomware groups are operating – not only updating their tools and techniques to extract data more efficiently, but also adapting their business models.
Earlier this year Trend Micro researchers discovered a new ransomware that uses legitimate search engine tools to search for files to encrypt. Investigation into this new ransomware, which researchers named ‘Mimic’, suggests a connection with the larger and more notorious Conti ransomware group. It’s suspected that collaboration between these criminal groups helps them lower costs and increase their market presence while also maintaining the efficacy of their criminal activities.
According to the report, many ransomware players are also turning their data exfiltration efforts toward tactics such as cryptocurrency theft and business email compromise (BEC).
Another key trend that emerged in the first half of 2023 was the use of AI by cybercriminals to carry out virtual crimes more efficiently.
A significant number of recently, malicious actors have abused AI technology to accurately impersonate real people as part of their attacks and scams. In fact, imposter scams such as virtual kidnapping are becoming increasingly rampant globally.
In the case of virtual kidnapping, malicious actors are able to create a deep fake voice of their victim’s child and use it as proof that they have the child in their possession to pressure the victim into sending large ransom amounts.
At the same time, ChatGPT and other AI tools are enabling criminals to automate the gathering of information, formation of target groups, and identification of vulnerable behaviours.
This is helping them lure big-name victims (also known as “big fish”) in harpoon whaling attacks.
Whaling involves tricking executives and directors through phishing campaigns for the purpose of stealing information or siphoning large sums of money.
Harpoon whaling, on the other hand, involves extensive research on targeted individuals.
This attack is a highly targeted social engineering scam that involves emails crafted with a sense of urgency and that contain personalised information about the targeted executive or director.
With AI tools becoming increasingly adept at creating text that can seem human-crafted; the effort needed to attack executives has been drastically reduced, making the targeting of hundreds of thousands of executives easier than ever before.
As innovations continue to evolve and involve more data, threat actors have also been finding more ways to victimise people.
For example, today’s connected cars contain over 100 million lines of code, giving smart functionality to the user but also opening doors to hackers. As more smart cars saturate the market, attackers will try to gain access to user account data and leverage it for crimes.
By hijacking or stealing such an account via phishing for credentials or installing malware, a cyber-criminal could locate the car, break into it and potentially sell it on for parts or follow-on crimes.
They might even be able to locate the owner’s home address and target it for burglary when they’re not in.
Threat actors have also been casting a wider net by leveraging vulnerabilities in smaller platforms for more specific targets, such as file transfer service MOVEit, business communications software 3CX, and print management software solution PaperCut.
“The increasingly sophisticated tactics being employed by hackers present a particular concern for local businesses which face untold potential damages at the hands of these malicious actors. It’s critical for defenders to gain a thorough understanding of the potential risks they are facing. Knowing these threats will help them make more informed decisions and ultimately take proactive measures to stay ahead in the increasingly convoluted cat and mouse game of cybersecurity,” Zaheer Ebrahim, solutions architect, Middle East and Africa at Trend Micro, said.
E-Business
Cybersecurity Firm Warns of Phishing Threats Targeting Telegram Premium
Kaspersky has warned that fake Telegram Premium offers have been spreading globally, targeting users with phishing scams and malware disguised as alternative app versions.
These attacks aim to steal account credentials or compromise devices. The scams capitalise on Telegram Premium’s popularity and gifting feature, making it crucial for users to remain vigilant.
Telegram Premium is a subscription that offers exclusive features, such as faster download speeds, voice-to-text conversion, premium stickers, an ad-free experience, and more. Users can gift a subscription, and scammers capitalise on this gifting feature and the Telegram Premium topic in general.
One of the tricks begins when a user receives a message that appears to come from someone in their contact list, whose account may have been hacked. The message claims: “You’ve been sent a gift — a Telegram Premium subscription”.
Below, there’s a link that looks legitimate but actually redirects the user to a phishing page, prompting them to log in to Telegram. If victims scan the code or enter their credentials, their account is immediately compromised, giving scammers access to their login details, password, and potentially their authentication code.
There are other tricks referencing the Telegram Premium theme, and not all of them necessarily start with messages on Telegram. Attackers may also use other methods to send phishing links, for example, email.
For instance, perpetrators host fake “giveaways” for Telegram Premium subscriptions. Victims are lured into participating, and in a series of steps, they are directed to a phishing site where they are prompted to enter their Telegram account credentials, ultimately resulting in their account being compromised.
Another machination involves cybercriminals sending victims an invitation to download a ZIP archive that claims to contain a version of the messenger service with a “Premium” subscription. The download link redirects users to a phishing page where they are once again asked to log in to Telegram.
Yet another fraud involves distributing malicious software disguised as an alternative version of the Telegram app with a “built-in” Premium subscription. Scammers send victims links to download APK files claiming they are modified versions of the app, but they turn out to be malware.
“Phishing schemes capitalising on the Telegram Premium topic has been observed in several languages, suggesting that the perpetrators operate globally. Even if these scams haven’t yet reached a specific region, there is a probability they could eventually make their way there.
Therefore, it’s always important to remain cautious and skeptical of offers that seem too good to be true. Additionally, make sure your Telegram security and privacy settings are up to date, and your device has a robust security solution,” advises Olga Svistunova, security expert at Kaspersky.
E-Business
FG to Add Iris Biometrics to Digital ID for more Inclusion
National Identity Management Commission of Nigeria (NIMC) has said that it is looking at ways of streamlining and expanding the rollout of digital ID in Nigeria and one of the options on the table is adding iris biometrics to its digital ID enrollment.
Iris biometrics is a biometric authentication technology that uses the unique patterns of the iris to identify a person
The hint was dropped recently by Abisoye Coker-Odusote, director general and chief executive officer, NIMC, during a Digital Public Infrastructure (DPI) Journalism Fellowship training which took place in Abuja.
Speaking through a representative, the NIMC boss said this idea is among a litany of innovations which they are planning to introduce to the digital ID system in order to make it more inclusive, The Sun reports.
At the moment, biometric enrollment for the National Identification Number (NIN) in Nigeria involves face and fingerprints.
Adding the iris modality, according to the official, will make it possible for citizens with disabilities to be equally issued the important credential which is necessary to access a wide range of services in the country.
“We are exploring the use of iris recognition technology to cater to the specific needs of individuals with disabilities,” the representative was quoted as saying. Uganda is one other African country which has announced the addition of iris biometrics to its new generation biometric national ID card.
The NIMC CEO said despite the challenges the ID authority faces, its commitment to build an inclusive ID system and expand coverage remain unwavering.
She emphasized the important of the NIN as an essential tool in getting access to several services.
In order to streamline access to services, Odusote said they have been working tirelessly with their partners to enhance interoperability among government agencies to facilitate identity verification.
This, she says, will save Nigerians the stress of having to register many times with government agencies to obtain services.
The innovations envisaged by the NIMC are part of a broader reforms plan which aims to give the ID authority a new legislative framework for more efficient identity management.
It also comes at a time when the World Bank has extended its support for the country’s digital ID program by another two years, with a target to issue 180 million digital IDs by the close of the extension.
The Nigeria ID4D has pledged in the past to create the enabling environment to the issuance of NINs to persons living with disabilities.
A recent investigative report however suggests that many aged and physically challenged citizens in Nigeria go through tough times seeking the NIN.
Some have reportedly had their SIM cards blocked while others have been locked out of their bank accounts for their inability to register for a digital ID.
E-Business
Kaspersky Reviews Main Business Headache Related to IT Security
According to the recent Kaspersky IT Security Economics report, the majority of companies surveyed globally find the loss of productivity, securing complex tech environments, and enabling data protection to be the most concerning business issues, driven by growing IT security needs and requirements.
The Kaspersky IT Security Economics report is released every year to analyse the changes in budgets, breaches and business challenges affecting IT Security decision makers.
This report is compiled from interviews with IT and IT security professionals from organisations of different sizes and industries. The survey was carried out in 27 countries across Europe, the Asia-Pacific region, Latin America, North America, the Middle East, Turkiye and the Africa (META) region, including in Egypt, KSA, Pakistan, South Africa, Turkiye, UAE.
According to the report, downtime and lost productivity are the most concerning business problems caused by ineffective IT security, an opinion expressed by 38% of companies globally and 34% in the META region. They encounter this problem mainly because of the long-time taken to detect and remediate threats.
Data protection is another important concern that was expressed by 33% of companies globally and 34% in the META region.
Respondents were worried about this because they regularly encountered the physical loss of devices by employees and experienced leakage of data from corporate systems caused by both external and internal reasons.
Securing complex technology environments and ensuring data connectivity were also on the list of key concerns, according to 33% of respondents globally and 26% in the META region.
Among the main IT issues that cause this challenge, respondents pointed to the rising number of incidents involving non-computing connected devices and incorrect operations of cybersecurity solutions that leave systems exposed.
Additionally, difficulties in managing security across different computing platforms play a crucial role in their inability to build a reliable all-encompassing cybersecurity system.
“It is crucial for organisations to safeguard every aspect of their operations from potential breaches. Attackers no longer solely rely on zero-day exploits, as a simple click on a malicious link or a vulnerability in a contractor’s infrastructure can lead to devastating consequences.
“This underscores the idea that information security should be based on a comprehensive and systematic approach, rather than being limited to the implementation of individual point-specific measures,” comments Alexey Vovk, Information Security Director at Kaspersky.
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