Leaders Say TikTok Is Potential Cybersecurity Risk to U.S. > U.S. Department of Defense > Defense Department News

Leaders Say TikTok Is Potential Cybersecurity Risk to U.S. > U.S. Department of Defense > Defense Department News

TikTok is a “possible danger vector” to the United States, reported John F. Plumb, assistant secretary of protection for place coverage and principal cyber advisor to the secretary of protection. 

TikTok is a social media, video clip-web hosting company owned by the Chinese business ByteDance. 

Users of the Property Armed Expert services Committee’s subcommittee on cyber, data technologies and innovation heard testimony from Plumb and Army Gen. Paul M. Nakasone, commander of U.S. Cyber Command, director of the Countrywide Security Company and chief of the Central Safety Provider. 

The dilemma with TikTok is that a massive selection of People use it, and China might have the ability to immediate misinformation through it, as effectively as gather knowledge from it, stated Plumb. The scale and scope of the platform is problematic.  

Policy makers need to have to be aware of these threats, be capable to quantify them, and be equipped to choose motion versus them, he mentioned. 

Nakasone mentioned, “If you consider one particular-3rd of the grownup populace gets their news from this application, a person-sixth of our little ones are indicating they are consistently on this app, if you take into consideration that there is certainly 150 million persons each solitary day that are clearly touching this application, this offers a international nation a system for information and facts operations, a system for surveillance, and a problem we have with regards to who controls that details.” 

The division has by now prohibited the use of TikTok on govt phones, the basic mentioned.  

“I imagine the broader discussion clearly rests with the policymakers now. Surely, this is a piece that our country has to consider,” he explained.  

There are likely to be other programs like this, and there needs to be a coverage in spot that balances the capacity to share facts with protection from adversaries’ means to conduct surveillance and details functions from the United States, Nakasone explained. 

The general said you can find a distinction involving TikTok and American-primarily based social media platforms. 

China has now said they’re heading to “touch the info at any time they want to touch this info. This considerations me,” Nakasone said. 

Plumb reported that for decades, China has made use of its cyber capabilities to steal delicate details, mental home and exploration from U.S. public- and non-public-sector establishments, together with the protection industrial foundation.  

“Chinese cyber intrusions are the most prolific in the planet. In disaster, PRC [China’s] leaders think that accomplishing data dominance will empower them to seize and hold the strategic initiative, disrupt our potential to mobilize, to project and sustain the joint power, and to guarantee the PRC’s wished-for close point out,” Plumb stated, referring to China. 

Plumb also testified that Russia engages in persistent, malicious cyber activities to help its world espionage strategies, steal mental home, disrupt essential infrastructure and promote disinformation.  

Russia has also shown that it utilizes cyber as a key ingredient of its wartime system, notably from Ukraine, he reported. 

Other persistent cyber threats come up from North Korea, Iran and transnational prison corporations, Plumb mentioned. 

“Alongside one another, our adversaries use cyberspace to carry out functions against the Section of Defense Info Community and the U.S. homeland. They do this to weaken our allies and partners and to undermine U.S. passions,” Plumb reported. 

Plumb described steps the division has taken in both equally defensive and offensive cyberspace. He mentioned the president’s fiscal year 2024 finances request bundled $13.5 billion for cyberspace things to do, prioritizing investments in cyberspace workforce, operations, investigation and capabilities.  

“Operating in cyberspace today is an vital element of the department’s capability to prevent aggression and make sure our nation’s security,” he mentioned. 

6 common challenges facing cybersecurity teams and how to overcome them

6 common challenges facing cybersecurity teams and how to overcome them

Creating solutions and firms in cybersecurity is not an effortless undertaking mainly because in many methods, the sector behaves otherwise from other folks. To start, it is extremely crowded, with hundreds and countless numbers of undifferentiated alternatives promising to address all stability troubles and much more typically than not, falling quick of their promises. Additionally, it is an unbelievably dynamic place with the landscape often shifting right away.

As a solution leader, I fulfill several business people and startup founders and see above and around how the large vast majority get slowed down by the identical styles of issues. In this put up, I am hunting at six problems of developing items in cybersecurity and ways to prevail over them.

1. The challenge of buyer discovery

As a product or service leader, I fulfill many business owners and startup founders and see over and in excess of how the vast vast majority get slowed down by the very same varieties of issues.

In most industries, buyers and finish buyers are open up to chatting to vendors because they identify that software suppliers are there to establish their issues, soreness details and inefficiencies, and make methods that clear away them. The exact same, unfortunately, are unable to be mentioned about cybersecurity where by handful of leaders (Chief Info Safety Officers or CISOs) or practitioners are open to acquiring transparent conversations with strangers. There are various factors why this is the situation:

  • Protection groups are chronically overextended and understaffed, and as a result cannot prioritize talking to sellers more than enhancing the safety posture of their organization.
  • CISOs and practitioners alike are inundated by suppliers who achieve out from all fronts — phone calls, e-mail, social media messages and conferences, to identify a handful of.
  • Product administrators and founders are likely to request the very same forms of inquiries that an adversary would (what goods the enterprise is applying, wherever their gaps are, and so forth.) — questions that can only be answered if there is a amount of have confidence in amongst events.

All this makes the life of cybersecurity solution leaders exceptionally tricky as it fundamentally makes them unable to do customer discovery, discover about suffering details and brainstorm possible methods. Listed here are some of the means to deal with this:

  • Construct relationships with CISOs and security practitioners by attending occasions, workshops and webinars.
  • Check with current customers, VCs and design and style companions for introductions to people today in their community.
  • When PMs get an prospect to chat to stability men and women, use that time to check with issues and be curious, as an alternative of pitching their products and solutions and options.

2. Working with standard merchandise administration frameworks

15 New Cybersecurity Products To Know: Q1 2023

15 New Cybersecurity Products To Know: Q1 2023

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For the initially three months of the year, we’ve been pursuing new merchandise launches and updates in cloud stability, XDR, SASE and extra.


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New Solutions To Know

An array of new cybersecurity product or service releases during the initially quarter built for a chaotic get started to 2023 in the security field. Cybersecurity companies that introduced key new solutions and function updates all through the initial three months of the yr provided suppliers this kind of as CrowdStrike, Zscaler, Palo Alto Networks, Sophos and Microsoft.

Major themes of the cybersecurity item launches in Q1 integrated the use of AI and ML for increasing cyberdefense, like the use of generative AI in a few circumstances. Important item segments that we tracked in the very first quarter integrated cloud stability, concentrated on defense of cloud environments such as AWS, Microsoft Azure and Google Cloud protected access service edge (SASE) and zero have confidence in network accessibility (ZTNA) for shielding hybrid and remote workforce entry to apps and prolonged detection and reaction (XDR) for correlating protection facts across instruments and prioritizing threats.

[Related:
10 Cybersecurity Companies Making Moves: March 2023]

As Q1 of 2023 arrived to a shut, specifics about what could be a single of the greatest cyberattacks in latest memory arrived to mild, as scientists from protection vendors including CrowdStrike and SentinelOne disclosed that communications app maker 3CX — as well as an untold variety of its finish consumers — had grow to be the target of a application provide chain attack reminiscent of the extensively felt SolarWinds breach of 2020. The attack underscored the have to have for cybersecurity goods that can pinpoint legitimate attacks amid the numerous alerts generated by today’s threat detection tools, as properly as the great importance of safeguarding the software growth system.

What follows are the critical specifics on 15 new cybersecurity merchandise to know from Q1 of 2023.

 

 Learn About Kyle Alspach

Kyle Alspach

Kyle Alspach is a Senior Editor at CRN focused on cybersecurity. His protection spans information, evaluation and deep dives on the cybersecurity industry, with a concentrate on quickly-increasing segments such as cloud protection, application stability and identification security.  He can be achieved at kalspach@thechannelcompany.com.


10 Cybersecurity Companies Making Moves: March 2023

10 Cybersecurity Companies Making Moves: March 2023

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Kyle Alspach

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We’re having a search at some of the cybersecurity firms that launched new goods and partner programs, announced acquisitions or designed key govt hires in March.


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Incredibly hot Sector, Major Moves

Even though a number of far more cybersecurity organizations introduced layoffs very last thirty day period amid continued macroeconomic wobbles, which include Zscaler, numerous extra safety suppliers had other styles of information to announce in March.

In individual, the rate of cybersecurity products launches appeared to speed up for the duration of the month, as at least 20 businesses we abide by released significant products bulletins. That appeared to be an uptick from the prior two months of 2023, centered on our tracking of hundreds of merchandise sellers in the cybersecurity field. Other cybersecurity moves all through the month provided announcements of noteworthy acquisitions, the launches of new channel husband or wife programs and essential government hires.

[Related:
Check Point CEO Gil Shwed On ‘Prevention-First’ XDR And Security Vendor ‘Overload’]

In March, some of the largest moves by cybersecurity organizations included a cloud safety acquisition by Cisco, whilst Okta was amongst the cybersecurity corporations that unveiled particulars on a new channel spouse system and Verify Position was among the sellers to disclose a critical govt hire.

Also in March, Microsoft introduced a new protection product that works by using OpenAI’s GPT-4 engineering and Palo Alto Networks unveiled major AI-driven updates to its protected obtain assistance edge (SASE) platform.

What follows are the aspects on 10 cybersecurity corporations that declared big moves in March 2023.

 

 Learn About Kyle Alspach

Kyle Alspach

Kyle Alspach is a Senior Editor at CRN centered on cybersecurity. His coverage spans information, assessment and deep dives on the cybersecurity field, with a concentration on speedy-growing segments such as cloud security, application stability and id security.  He can be achieved at kalspach@thechannelcompany.com.


4 Steps for Shifting Left & Winning the Cybersecurity Battle

4 Steps for Shifting Left & Winning the Cybersecurity Battle

Consumer gratification is present day company battleground. The winners are the companies that provide the most effective, maximum-operating software program and purposes in the shortest total of time.

ChatGPT is the latest case in point of a successful app. In just a several months, the software has achieved 100 million buyers, generating it the quickest-expanding consumer application ever. Its good results has also established off an artificial intelligence (AI) apps arms race, with competitors, which includes Google, rising to get industry share as speedy as feasible. This race illustrates the ongoing struggle businesses confront to immediately develop higher-undertaking computer software and purposes that are also remarkably secure. This is a sensitive balance in present day ecosystem, exactly where buying and selling protection for speed could lead to disastrous repercussions.

Stability-Speed Equilibrium

One particular strategy that corporations are embracing to strike this balance is implementing the “change left.” The change still left in this context refers to shifting procedures associated to tests software package as early in the improvement method as doable. By embracing the shift still left, technological innovation teams — especially DevOps teams — can discover bugs, errors, and vulnerabilities early on and take care of them, ensuing in superior-doing, very protected application, and apps.

Below are 4 techniques DevOps teams can take to embrace the shift still left, enhance application general performance, lower vulnerabilities, and gain the stability battle.

Stage 1: Outline the Security Strategy

No army value its salt heads into the subject with no a comprehensive map of the terrain, facts on adversaries, and a hierarchy in location with duties for just about every rank. The same should be legitimate of any DevOps unit shifting left.

Organizations should really just take the time to establish who will be in charge of what responsibilities, ascertain metrics for achievement, and formalize methods. DevOps leaders ought to establish appropriately staffed groups, put into action processes that maximize stability, and establish what type of checks they will operate and how often they will operate them. Enterprises ought to also identify and put together for unique recognized vulnerabilities that could direct to problems.

Shifting remaining includes developing a new established of concepts for program supply and stability thus, planning and defining the strategy is quite significant.

Action 2: Have an understanding of the Progress Pipeline and Deployment System

As firms change left, it can be significant to have a comprehensive being familiar with of the software package improvement pipeline and the deployment system.

This pipeline is the established of equipment and procedures in location to create and release software and programs. When this assessment and understanding is comprehensive, DevOps groups can begin carrying out assessments in the create pipelines, examining code validity inside improvement environments, and considerably far more.

A single solution that is assisting DevOps groups map and comprehend their pipelines and embrace the shift remaining is observability. With observability, groups can assist groups get a one-pane-of-glass check out throughout purposes, databases, and infrastructures that can be vital to being familiar with software performance, person practical experience, and the all round environment necessary for fashionable application architecture. Some observability solutions even offer you live code profiling that automatically sees probable person problems or effectiveness bottlenecks prior to code is shipped.

Phase 3: Incorporate Safety Automation

In organization technological know-how, software package groups have turned to automation to streamline tests for a number of explanations. First, manually tests program can introduce human mistake. Next, the change still left necessitates companies to exam software program as early and often as probable. And whilst these rules are meant to develop much more protected, far better-doing goods, this higher quantity of tests can also end result in overloaded teams, demanding DevOps to manually appraise every new attribute the progress crew introduces.

To prevent this circumstance, DevOps teams should use applications that automate operating exams. Doing so will aid reduce the worry placed on DevOps groups though also delivering faster feed-back similar to any vulnerabilities that may perhaps be located in software code. Frequently, automating checks in the development cycle makes it possible for organizations to improve the velocity with which a item is concluded whilst guaranteeing that fewer bugs or vulnerabilities are located afterwards.

Action 4: Create a Tradition of Transparency

While automation and contemporary engineering can contribute substantially to an organization’s accomplishment, a more human approach and trait performs an equally vital position — communication and transparency.

A single of the important rules powering DevOps is narrowing the divide concerning advancement and production. Growing conversation and transparency across the product and software program growth existence cycle can enable narrow this divide. As it relates to the change left, involving the suitable group members as early as probable and through each step in the procedure is important to escalating transparency.

By prioritizing communication and incorporating transparency to the approach wherever feasible, group members will far better recognize how to test, what vulnerabilities to glance for, and how to make software package and programs additional safe, much better undertaking, and far more resilient.

Bank customers, companies lose billions to Nigeria’s weak cybersecurity

Bank customers, companies lose billions to Nigeria’s weak cybersecurity

Godfrey George writes on how Nigerian institutions can strengthen their cybersecurity to safeguard themselves against illegal hackers

Students of Babcock University, Ilishan-Remo, Ogun State, a private Christian co-educational university owned and operated by the Seventh-Day Adventist Church, could not believe their eyes when they logged into their school’s website on Tuesday.

Some hackers had broken the site’s firewall, taken full control of the website and even posted pornographic materials.

An ex-student, who did not want to be named, said she almost dropped her phone when she opened the website to apply for her transcript that morning.

The 22-year-old, who recently graduated from the varsity’s engineering faculty, told Sunday PUNCH that she felt embarrassed and threatened, at the same time.

“I felt like I couldn’t breathe for a moment. We are talking about a university’s website overtaken by hackers who post pornographic pictures and videos,” she said.

Going online to chat with her friend in her class WhatsApp group, news of the intrusion had already spread to her utmost shock.

On Twitter, a user, Dami Adenuga, took a screenshot of the ‘porn-infested’ website interface and splashed it on his page.

He wrote, “Babcock University’s website was hacked and porn was uploaded there. You people no dey fear God?”

Hours after the cyberattack on the site, our correspondent, who monitored the situation, observed that more content was being uploaded hours after the first one went out.

The hackers requested visitors to the website to click on a link to chat live with pornstars.

For a faith-based institution, the cyberattack was a hit from a thunderbolt.

Reaching out to a source within the school information technology department on that day seemed impossible as the lines rang out.

Hours later, the source called back to say the lewd content had been brought down but declined to speak on the kind of attack it was and if a ransom was paid to the hackers.

“Bro, it was a terrible one. We worked with external hands to take back the website and we have improved website security,” he simply said with a cold tone.

Tech experts believe that it must have been a ransomware attack, where a hacker or a group of hackers, take over a site and the real owners are required to pay a ransom to retrieve the site.

A Lagos-based tech entrepreneur, Mba Mba, noted that the Babcock situation might not be that straightforward.

“It will be hard to know exactly who is responsible except if the school decides to engage other cybersecurity experts to look into the matter. This means employing legal hackers to fish out whoever is responsible would be the beginning.

“But, from this end, it could have been an internal breach just to demean the university, which prides itself as one of the best faith-based institutions in the country.

“It could have been a ransomware attack or a denial of service or session hijacking, also known as a man-in-the-middle attack. Only a proper assessment can prove that,” he added.

The day after the attack, the management of the varsity apologised for the glitches.

The university’s Director of Communication and Marketing, Joshua Suleiman, in a statement on Wednesday, confirmed that the school’s Information Management System Account was hacked

He said, “We never voluntarily, either by omission or commission, sent out such information to anyone, so we are sorry if it made a wrong impression. Rest assured, we have secured our network already.

“We have always recognised that constant vigilance is required to protect against intrusions because of our understanding that even the most diligent cybersecurity efforts have not been able to address all cyber risks that organisations face.

“This is why, unfortunately, malicious attacks and intrusion efforts are continuous and evolving, and in certain cases, they have been successful at the most robust institutions.”

The message by the school’s image maker highlighted a critical point – messages were sent out to users.

The ex-student who spoke to Sunday PUNCH noted that she got messages to click on some links but found out that they were fishy.

“I learnt some of my colleagues who clicked on the links had their data wiped out,” she added.

Schools as targets

In the past, cyberattacks like ransomware and data breaches happened in many schools and universities around the world, leading to the loss of sensitive information and damage to their reputations.

In 2015, the Federal University of Technology, Owerri, Imo State’s website was hacked by a syndicate identified as the Nigerian Cyber Army, known for its illicit acts of breaching cybersecurity

The hackers terrorised many websites with various attacks like malware – software that is specifically designed to disrupt, damage, or gain unauthorised access to a computer system – and SQL Injection Attacks – unauthorised access to sensitive data, such as passwords, credit card details and personal user information – for weeks on end.

A member of the group, Batch Fweak, was said to have made a post on Facebook, stating, “Nobody can stop me. FUTO on my mind.”

A few hours later, the university’s website was defaced as some students claimed that their data might have been tampered with.

Using what experts term a ‘noob trick’, which entails uploading a shell amidst other procedures to deface a website, NCA gained access to the site.

The university retrieved the website later that day.

An Oyo State-based school administrator, Mr Olu Francis, said hackers took over his secondary school’s website, got the personal information of some parents and sent them text messages.

“We (school management) didn’t notice it because we were still developing the site. But we had uploaded all the information of our students and parents/guardians there to get a feel of what it would look like,” he said.

To his surprise, some parents called to tell him that they got text messages to pay certain fees into a specified account with a strange name so they called to confirm.

“The annoying thing is that some parents already transferred the money and called me to ask if I got the alert. When I checked my other line, I found out that I was also sent that text message. It was like a nightmare. I was running helter-skelter in search of a solution.

“I asked the developer to shut down the site but it was already too late; the damage was massive. We are talking about over 800 students in a section of the school and another 1400 or so in another section,” he added.

Francis stated that he had to personally call every parent/guardian to tell them what happened after sending counter-text messages to them.

“I visited the bank to trace the account, but the bank said the person was not their customer and that the account that was used had been dormant for years and may have just been used as a pathway to siphon the money.

“It was amazing how a bank official would tell me that nonsense. I got a court injunction for the account to be frozen but, to my greatest surprise, the account truly had been dormant for more than five years. The owner had died years before that,” he added.

Frustrated, Francis said he got tired of the matter and dropped it but moved all the school’s funds from that bank to another one that promised better cyber safety.

Attacks on NPC, INEC servers

Barely months after the National Population Commission opened up its portal for recruitment and other needs, and weeks before a national census, scheduled to hold from May 3 to 5, hackers invaded the NPC server.

This, according to experts, may be a way to frustrate the project aimed at obtaining accurate figures for economic planning and other related matters.

A Manager at the NPC, Dr Inuwa Jalingo, at a meeting in Abuja, however, stated that the situation had been put under control through “specialised workforce, Information and Communication Technologies classes and mop-up phase.”

In early January, the Chairman of the Independent National Electoral Commission, Prof. Mahmood Yakubu, noted that there were attempts to hack into the commission’s system ahead of the general elections.

The INEC chairman, who was represented by the Deputy Director of ICT, Dr Lawrence Bayode, noted that the attacks came in from different parts of the world.

He said, “We were looking at the system yesterday and we were seeing that people were trying to come into the system from France; but we are also putting some infrastructure in place (to make sure they don’t)”.

Days after the election, the Managing Director, Galaxy Backbone, the Federal Government’s information technology and shared services provider, Muhammad Abubakar, said the company blocked over 200 cyberattacks during the presidential and National Assembly elections on February 25.

According to him, the result viewing portal of INEC suffered a system collapse that forced it offline for several hours on election day, “spawning a severe backlog in the transmission of presidential election results over the high throughput infrastructure.”

On March 15, Mr Isa Pantami, the country’s communication and digital economy minister, acknowledged that the INEC server recorded more than 12 attacks both within and outside the country’s cyberspace.

He said in the run-up to the 2023 general elections, threat intelligence revealed an astronomical increase in cyber threats to Nigerian cyberspace, adding that generally, threats to public websites and portals averaged 1.55 million daily.

Banks worst hit

A January report by Financial Institutions Training Centre revealed that Nigerian bank customers lost a total of N2.72bn to fraud in the first and second quarters of 2022.

Between July and September 2020, banks, according to the Nigeria Inter-Bank Settlement System Plc, lost N3.5bn to fraud-related incidents, representing a 534 per cent increase from the same period in 2019, when it was N552m.

In 2018, commercial banks in Nigeria lost a cumulative N15bn ($32.36m) to electronic fraud and cybercrime.

This was a 537 per cent increase on the N2.37bn loss recorded in 2017.

In the same period in 2018, over 25,043 bank customers and depositors lost N1.9bn to cyber fraud, with fraud incidents rising by 55 per cent from the previous year’s 17,600.

Nigeria’s Consumer Awareness and Financial Enlightenment Initiative had projected a $6tn loss by 2030 to cybercrime within and outside Nigeria. These crimes are committed mostly through phishing and identity theft.

In September 2022, suspected fraudsters, during a three-day cyber-attack, hacked a customer’s account domiciled in an old-generation bank and transferred N523.337m from the account to 18 different accounts in the same bank.

The spokesperson for the Police Special Fraud Unit in Ikoyi, Lagos State, SP Eyitayo Johnson, said the suspects subsequently transferred the money from the 18 accounts into 225 accounts domiciled in 22 other banks and financial institutions.

 He added that the coordinated cyber-attack was carried out on Saturday, April 23, till the early hours of Monday, April 25, 2022, adding that two suspects had been arrested in connection to the crime.

In January 2023, a bank customer with one of the top banks, Chiamaka Agim, lamented how over N4m was debited from her account without her authorisation.

Speaking to Sunday PUNCH, Agim said between 8.43pm and 9pm, she lost over N4m from her account.

“I was first debited N3.7m to another bank, N222,900 to another bank and N102,000 to another account.

“What was left in my account was about N12,900.

“I couldn’t even breathe well. I couldn’t think. In a space of five minutes, my entire life’s savings were wiped off. I don’t know who did this and I don’t know how it happened,” she said.

She further stated that she visited the bank the next day but was told to get some documents, which she did.

In the end, the bank said it retrieved about N800,500, which she blatantly rejected.

It took days for the bank to finally get some substantial sum back to the lady although it kept insisting that the victim bought a token for some online transactions, a claim she continuously opposed.

In March 2023, the Lagos State Police Command arraigned a fraud syndicate comprising eight men before the Federal High Court in Lagos for allegedly hacking the server of an electronic platform, ITEX Integrated Services Limited, and stealing N435.3m.

The defendants, including Aderuku Adedayo, Adigun Benjamin, Awopetu Tosin, Ajibade Ayomide, Ojo Olwaseun, Miller Oluwafemi, Olaleye Samuel and Ajibade Ayodeyi, are facing charges bordering on conspiracy, hacking, stealing and fraud preferred against them by the police.

The prosecutor, Morufu Animashaun, told the court that the defendants conspired among themselves and others now at large to commit the offences on September 7, 2022, at 1E, Sinari Daranijo Street, Victoria Island, Lagos.

According to the prosecutor, the offences contravened sections 8(a), 1(1)(a), 2(a) and 7(2)(b)of the Advance Fee Fraud and other Fraud Related Offences Act 2006, and punishable under Section 1(3) of the same Act.

All the defendants pleaded not guilty to the charges.

In another related case, a man, Salau Femi, was arrested by detectives from the Special Fraud Unit of the Nigeria Police Force for allegedly hacking into the server of a Nigerian bank to steal N1.87bn.

The suspect, police said, was the kingpin of a syndicate that specialised in hacking into the servers of banks and corporate agencies.

He was arrested after he hacked the Flex-Cube Universal Banking System of a first-generation bank.

The SFU spokesman, Johnson, in a statement, said the suspect created fictitious credits totalling N1.87bn on the accounts of three of the bank’s customers.

A leading fintech company recently denied being hacked after reports emerged that hackers had stolen over $4m from its accounts in Nigeria.

The company stated that it identified an unusual trend of transactions on some users’ profiles during a routine check of its transaction monitoring system.

However, according to the company, no user lost any funds, adding that the fintech’s security measures addressed the issue before any harm could be done.

The recent developments in the hack highlight the increasing threat of cybercrime and the need for companies to invest in robust security measures to protect themselves and their customers.

A growing menace

A January 19 Forbes report stated that over 800,000 passwords and 50,000 individuals were targets of a Nigerian fraud operation cybercriminal gang, known as SilverTerrier.

According to the report, 11 individuals were arrested in December by Interpol.

The international policing agency said the suspects appeared to have targeted as many as 50,000 individuals and companies via Business Email Compromise (BEC).

“These so-called BEC scams help criminals find a way to intercept emails, either via hacking into accounts or spoofing email addresses, and trick companies into sending funds to the fraudsters rather than business partners with whom they believed they were interacting.

“BEC remains the most costly kind of fraud to Americans. According to the FBI’s most recent annual cybercrime report, losses totalled $1.8bn in 2020 alone, with global losses estimated to be close to $5bn in the years between 2018 and 2020. That makes it a far more financially damaging crime than ransomware, one of the better-known cyberattacks,” part of the report read.

The SilverTerrier gang is known as one of the more successful BEC fraud groups, and Interpol said initial analysis of one of the 11 suspects’ computers indicated they had more than 800,000 usernames and passwords, which could potentially have been used to hack into company email accounts.

Another suspect was found to be monitoring conversations between 16 companies and their clients to divert legitimate transactions just as they were about to be made, Interpol said.

An Assistant Inspector-General of Police, Garba Umar, said while working with Interpol, he was able to “give the order to hunt down these globally active criminals nationwide, flushing them out no matter where they tried to hide in my country.”

The report revealed how a cybersecurity company, Palo Alto Network,  tracked all BEC fraud coming out of Nigeria under the name SilverTerrier and found that among the nearly 500 different “actors” involved, they were “often connected through only a few degrees of separation on social media platforms,” showing links between over 120 actors.

The company also claimed that one of those arrested had previously been apprehended by the FBI in 2018.

“His recent arrest marks one of the first known instances of a Nigerian actor being arrested twice for BEC,” it added.

This will not be the first large-scale cyber fraud Nigeria would witness.

In November 2022, a gang of hackers known as OPERA1ER, stole at least $11m from companies in Nigeria, Benin, Cameroon, 11 other African countries, and Argentina.

This is according to a new report from Group-IB, a cybersecurity firm, titled, ‘OPERA1ER: Playing God without permission,’ in collaboration with researchers from Orange CERT Coordination Centre.

The firm disclosed that digital forensic artefacts analysed by it and Orange followed more than 30 successful intrusions of the gang between 2018 and 2022.

The company’s data revealed that companies in Ivory Coast were the most targeted.

It said this helped it to trace affected organisations in Ivory Coast, Mali, Burkina Faso, Benin, Cameroon, Bangladesh, Gabon, Niger, Nigeria, Paraguay, Senegal, Sierra Leone, Uganda, Togo, and Argentina.

In April 2022, some suspected Russian hackers attacked some Nigerian websites, including the popular betting platform, Bet9ja.

This is coming after the United States said it secretly removed malware from computer networks around the world in its bid to pre-empt Russian cyberattacks.

Bet9ja first announced that it was having issues with its website on a Wednesday on its verified Twitter handle.

According to the company, its customers were not able to log in to their accounts.

It said, “We are currently experiencing an issue with our website. This means you may not be able to log in.

“We take this matter very seriously and our IT team is working on it as their number one priority right now.”

However, the next day, Thursday, the firm announced that it had become a victim of a cyberattack.

Bet9ja said, “The Bet9ja betting platform, just like many market-leading global organisations, has recently become a victim of a sophisticated criminal cyber-attack, which is restricting our customers from having access to the platform.

“We are working tirelessly with our IT team, independent forensics, and cybercrime experts to resolve this; we take this matter extremely seriously. Our priority is protecting our customers and you have our assurances that your accounts will not be compromised, and all your funds are safe.”

In a previous post, the firm added that its customer’s funds were secured.

Bank, insurance firms targets – IBM

The International Business Machines Corporation in its most recent report published in March stated that the financial and insurance sectors of Middle Eastern and African countries were faced with more cyberattacks in 2022 than other sectors in the region.

The firm stated that the two sectors accounted for 44 per cent of incidents in 2022, which was four percentage points lower than the 48 per cent recorded in 2021.

Hackers also prioritised attacks on professional, business and consumer services sectors during this period, with the sectors accounting for 22 per cent of attacks.

Security Leader at IBM MEA, Kleimert Knibbs, said, “Proactively managing security risks and evolving cybercrime tactics is a critical priority for organisations across MEA.

“The X-Force Threat Intelligence Index findings demonstrate the continued threat of ransomware and the increasing use of thread hijacking tactics.

“To safeguard against these threats, companies must remain vigilant and focus on effective incident response planning. As the security landscape evolves, it is crucial to prioritise threat intelligence and strengthen defences.”

According to the report, the deployment of backdoors, which allow remote access to systems, emerged as the top action by attackers in the region last year.

It stated that ransomware and worms tied for the second-most common attack type in the region at 18 per cent each.

The firm explained that the IBM Security X-Force Threat Intelligence Index tracks new and existing trends and attack patterns — pulling from billions of data points from network and endpoint devices, incident response engagements and other sources.

ABU, UNN vulnerable

Three years ago, a Pakistani Penetration Tester,  Touseef Gul, discovered some bugs (weaknesses or vulnerabilities that hackers can exploit) in three Nigerian universities — Nnamdi Azikiwe University, Akwa; Ahmadu Bello University, Zaria, and Salem University, Lokoja — and Mount Kenya University, a private university in Thika, Kenya.

Bug hunters and penetration testers are cybersecurity professionals that test for loopholes that hackers can exploit in websites or apps of reputable organisations and report them with insights on how to fix them and prevent any intrusion or abuse before it becomes public knowledge.

According to Gul, all he did was a surface search on the main domain of the websites (URL), and he found the bugs without having to go deep into their systems.

“With ABU, Zaria, for example, all I needed to do was type in portal.abu.edu.ng on my browser along with a few other characters, and I discovered the bugs,” he stated.

Gul reported his findings to the universities in 2017, and the developers from UNIZIK reportedly responded by saying the issue could not be resolved due to a crisis in the region.

In the University of Uyo, Akwa Ibom, in 2014, there was pandemonium when some students claimed to have a copy of the General Studies exam question before the exam time.

With hacking, some students access and manipulate results from their school server, input scores for exams they never sat for;  register for courses without having to pay for them, and even get onto a school’s admission list to add or take out names.

A few months ago, a government agency’s website was cloned by hackers and many users unknowingly inputted their data, thinking they were applying for a job.

Victims lost money as the agency continued to turn a blind eye.

Cyber laws in Nigeria

As more and more spaces open up in the digital world, so has cybercrime grown in leaps and bounds.

To combat these issues, the government came up with the Cybercrimes (Prohibition and Prevention) Act (2015).

“Cyberlaw acts as a shield over cyberspace, preventing cybercrime from occurring. The government is committed to developing and enforcing regulations to combat illicit online activities,” a publication on legal luminary, Olisa Agbakoba (SAN)’s website stated.

 The CPPA (2015) has a significant impact on cyber law in Nigeria as it creates a comprehensive legal, regulatory, and institutional framework in Nigeria to prohibit, prevent, detect, prosecute, and punish cybercrime.

The Act encourages cybersecurity and protection of computer systems and networks, electronic communications, data and computer programmes, intellectual property, and privacy rights, as well as the protection of important national information infrastructure.

Highlighting the categories of the law, the publication stated that cybercrimes against people included cyber harassment and stalking, e-mail phishing, various sorts of spoofing, credit card fraud, and identity theft.

Cybercrime against property includes distributed denial of service attacks, hacking, virus transmission, cyber and typosquatting, computer vandalism, copyright infringement, and intellectual property rights breaches.

“The expansion of the Internet has revealed that the channel of cyberspace is being used by people and groups to threaten foreign governments as well as intimidate a country’s citizens.

“When an individual hacks into a government or military-run website, the offence becomes terrorism,” the report added.

The law also established a Cybercrime Advisory Council in charge of handling issues relating to the prevention and combating of cybercrimes, cyber threats, computer-related cases and the promotion of cybersecurity in the country.

Cyberattacks in Africa increased by 300{b7c9e2c88beb1a84f22d94ab877a147f4adc4b3519717f3f957a0f34e16918d1} —  Pantami

Pantami, on Tuesday, disclosed that Africa’s digital economy is facing a major challenge as cyberattacks continue to rise at an alarming rate.

According to Pantami, a recent report by the Africa Cybersecurity Report noted that cyberattacks in Africa increased by 300 per cent over the last year alone, adding that this trend is worrisome given that Africa’s digital economy is on the rise and has been projected to be worth $180bn by 2025 by the World Bank.

The minister, who spoke at the opening ceremony of a two-day cybersecurity stakeholder workshop in Abuja, however, said the growth could be severely impeded if businesses and organisations did not take the necessary steps to protect themselves against cyber threats.

Strengthen cyber infrastructure – NCS

The President, National Computer Society, Prof. Adesina Sodiya, in an interview with our correspondent, said Nigerian digital spaces had been experiencing cyberattacks for quite some time.

According to him, some of the tertiary institutions in the country, last year, experienced denial of service and man-in-the-middle attacks, among others.

“As a nation, we have been talking about it for quite some time that we need to continue to prepare and update our cyber infrastructure because these attacks are going to be there forever.

“It is just like the physical armed robbers. We now have a situation where many corporate organisations are moving to e-governance and embarking on digital infrastructure.

“Of course, this digital community that we have all found ourselves in makes it easy for us all to access resources that are available remotely.

“In cybersecurity, the major concern is that these websites must guarantee legitimate access and legitimate use of resources. The truth is that these cybercriminals will continue to develop their threats to whatever barrier we put in place but we must continue to update our systems as we go on to counter the attacks if they come,” he noted.

Another cybersecurity expert and founder, IDot Creations, Chukwuemeka Orjiani, said the Federal Government should give regular updates to individuals and organisations on cybersecurity.

On how to avoid attacks, he said, “People should be told how to get firewalls, VPNs and other ways to mitigate attacks. It is not healthy to put your information online. Learn to change your passwords and PIN and not click on any link you see.”

Another expert, Enoch Ibidapo, said the goal of an attack is to steal personal information, such as login credentials, account details and credit card numbers.

“Targets are typically the users of financial applications, SaaS (software as a service) businesses, e-commerce sites and other websites where logging in is required.

“Information obtained during an attack could be used for many purposes, including identity theft, unapproved fund transfers, or an illicit password change,” he added.

According to him, employing more cybersecurity programmers and enlightening the public on what they should and should not do on the Internet would go a long way to mitigate the attacks.