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E-Business

Trend Micro’s Device Blocks Malicious Mails Targeted @ Nigerians

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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.

Trend Micro’s Device Blocks Malicious Mails Targeted @ Nigerians

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.

 

 


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E-Business

INEC Sets Up AI Division to Strengthen Electoral System

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Independent National Electoral Commission (INEC) has announced the establishment of an Artificial Intelligence (AI) Division within its ICT Department.

INEC Sets Up AI Division to Strengthen Electoral System

This marks a significant stride toward enhancing electoral integrity, efficiency, and innovation in Nigeria’s democratic process.

This decision was reached at the Commission’s regular weekly meeting held in Abuja, following a series of consultations and engagements on the global and continental impact of AI on elections.

In a statement issued by Sam Olumekun, national commissioner and chairman of the Information and Voter Education Committee, INEC underscored that the growing relevance of AI in electoral matters necessitated a proactive institutional framework to manage both the risks and opportunities it presents.

“Our interactions with electoral bodies across Africa highlighted both the risks of AI—such as fake news and content manipulation—and the vast potential it holds for data-driven decision-making, risk mitigation, automated voter services, and geo-spatial intelligence for logistics,” Olumekun noted.

According to him, the newly created division will centralise the Commission’s AI efforts, ensuring a harmonized approach to deploying intelligent systems that enhance decision-making, improve voter engagement, and boost the credibility of the electoral process.

“The creation of this division puts the Commission at the forefront of institutionalizing AI capabilities in electoral management.

It is also part of our ongoing reforms in areas where administrative action is sufficient to drive change,” he said.

He added that the AI Division will help INEC better coordinate its existing technological investments while providing safeguards against the misuse of AI technologies.

“We are positioning ourselves to maximise the positive impact of AI while mitigating its negative implications. This step strengthens the credibility and transparency of elections in Nigeria,” Olumekun concluded.

The initiative, INEC emphasised, reflects its commitment to embracing innovation in safeguarding democracy and improving electoral services nationwide.

 

 

 

 


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CAC, NIBSS Unveil Platform for Data Access to Private Firms

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Corporate Affairs Commission (CAC) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) has unveiled a new Application Programming Interface (API) integration system to allow private firms access company data from the Commission’s database.

CAC, NIBSS Unveil Platform for Data Access to Private Firms

Hussaini Ishaq Magaji (SAN), registrar general of CAC, who spoke  in Abuja at the unveiling said the system would give selected private organizations access to CAC services through technology-based companies, called “super agents.”

“This is a practical step to show that the Commission is committed to meeting the expectations of our customers,” he said.

Magaji explained that the integration allows the agents to retrieve data from the CAC database for use in specific client requests, outside the standard services provided by the Commission.

“Before now, only a few government agencies had this integration, especially those involved in investigations, anti-money laundering, and terrorism financing. Now, private companies that meet the criteria can also access it,” he said.

He said the system complies with the Nigerian Data Protection Act 2023, and information such as residential addresses, phone numbers, and dates of birth may be restricted.

“This is a call to law firms and companies with the right technology. We’ve started with NIPS because of their credibility. Embassies and banks can now authenticate company records directly through them.”

“There are prescribed fees. We already collect them on our portal, and now customers can also pay through these agents,” he explained.

He named NIPS, MoneyPoint, and OPE as some of the companies involved.

“OPE and MoneyPoint handle only registrations. But NIPS has moved further into validation and verification,” he said.

Ngover Ihyembe-Nwankwo, executive director at NIBSS, who represented Premier Oiwoh, managing director, said the service allows secure and efficient data verification.

“This is the result of years of effort to connect our systems with CAC. It will help users verify data within the limits of data protection laws,” she said.

She said the move is a way to lower costs and promote interoperability across the financial sector.

 

 


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FG Launches Online Citizenship, Business Management Platform

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Ministry of Interior has announced the launch of a new Online Citizenship and Business Management Platform in line with the Renewed Hope Agenda of President Bola Tinubu.

FG Launches Online Citizenship, Business Management Platform

A statement signed by Dr Magdalene Ajani, permanent secretary, Ministry of Interior’s said the initiative forms a key part of its ongoing reforms aimed at promoting transparency, enhancing operational efficiency, and significantly improving service delivery to the public.

The new digital platform is designed to streamline the application and processing of citizenship and business-related services, ensuring faster turnaround times and improved user experience.

The platform allows users to apply for and manage business permits, ensuring that both local and foreign businesses operate legally in Nigeria.

It includes an Expatriate Quota System to manage work permits for foreign employees, helping companies hire skilled workers while complying with Nigeria’s immigration laws.

The Citizenship Administration and Management System provides a streamlined online process for applying, tracking, and managing Nigerian citizenship applications and related services.

Members of the public, corporate entities, and other stakeholders are expected to access the platform through the ministry’s website: https://interior.gov.ng , Direct Portal Access: https://candb.interior.gov.ng , or contact candb-support@interior.gov.ng for support and inquiries.

“The Ministry of Interior remains committed to establishing a more efficient, transparent, and secure framework for citizenship administration, while continuously enhancing service delivery through digital transformation,” the statement read in part.

 

 

 

 

 

 


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