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10 Cyber Security Trends to Watch in 2019

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Biometric hacking, an increase in phishing attacks and sophisticated use of artificial intelligence (AI) are among the top cyber security threats to be expected in 2019, as attackers stop at nothing to steal identities and evade detection through new techniques.

  1. Attacks through theft of biometric data

While several major leaks of biometric data have already occurred globally, the Middle East and Africa regions could see the first attacks in the theft and use of biometric data in 2019, according to Kaspersky Lab.

“As more biometric systems for user identification and authentication are being implemented by various financial institutions in META (Middle East, Turkey and Africa), 2019 will see criminals exposing vulnerabilities in passcodes, touch ID sensors and facial recognition,” says Fabio Assolini, senior security researcher at Kaspersky Lab.

“While many financial organisations consider these emerging biometric-based solutions to improve security over current authentication methods, biometric data will increasingly be used to steal sensitive information.”

  1. AI and machine learning make attacks harder to detect

Manuel Corregedor, COO at Telspace Systems, says 2019 will see more advanced exploitation of AI to carry out and conceal new exploits.

“I believe we will see an increase in attackers utilising AI and machine learning as a means to make their attacks more difficult to detect or prevent,” says Corregedor.

However, AI will also change the way the industry deals with threats.

Brian Pinnock, cyber security specialist at Mimecast, says AI and machine learning will play a more prominent role as the velocity and variety of attacks makes conventional approaches – such as blacklists – outdated and ill-equipped to deal with modern cyber threats.

“Organisations will realise the importance of threat intelligence and will focus on the need for an ‘intelligence function’ to identify threats,” says Pinnock.

  1. Phishing scams to soar

As e-mail attacks grow more frequent and complex, more organisations will be left scrambling for new ways to reduce risk and better detect and remediate threats in 2019.

Pinnock says throughout 2019, the most insidious development won’t be new attack types, but, rather, improved execution of existing attack types, especially those delivered via e-mail.

“Phishing techniques like the use of homoglyphs, elongated URLs, legitimate certifications (green lock), and credetial-harvesting sites will increase. Flawless phishes will continue to prey on the gap in human firewalls, pivoting internally around organisations and intensifying efforts to better educate all staff.”

Dr Jabu Mtsweni, research group leader for cyber defence at the Council for Industrial and Scientific Research (CSIR), points out that phishing scams are still quite popular as cyber security awareness remains low.

“Denial-of-service attacks on government Web sites were also popular in 2018. This includes injection of malware on government Web sites that remain undetected. In 2019, malicious e-mail and links will continue to be used by criminals to get access to organisations’ networks.”

  1. Fake videos bring a new era of fake news

UK-based innovation foundation Nesta forecasts that 2019 will see a new level of malicious posts on social media as fake videos set the next stage in fake news.

Lifelike computer-generated graphics – appearing to show video footage of events that never really happened – will be used to mislead the public.

“We predict that within the next 12 months, the world will see the release of highly authentic-looking malicious fake videos, which could cause substantial damage to diplomatic relations between countries,” says Nesta. “Deepfakes, a new AI-based technology that makes it possible to create fake videos of individuals nearly indistinguishable from the real thing, will make this possible.”

The innovation foundation believes that Deepfakes have the potential to spark a geo-political incident if a politician or celebrity is maliciously impersonated.

  1. Improved execution of existing attack types

In 2018, cyber attacks and data breaches continued to increase in both frequency and intensity, and organisations can expect more of the same in 2019, according to experts.

Corregedor points out that the biggest cyber security event of 2018 is probably just the sheer number of data breaches that have occurred across industry sectors, some utilising advanced attacks, others as a result of mistakes made by the affected organisations.

Over 4.5 billion data records were compromised worldwide in the first half of 2018, according to Gemalto’s latest Breach Level Index.

Pinnock points out that better social engineering, increases in credential stuffing attacks, and more complicated malware with multiple stages and different form factors for transmission will make threats incredibly tricky to detect in 2019.

“With global cyber crime organisations growing in maturity and sophistication, many are now acquiring capabilities that were once the sole reserve of nation states,” notes Pinnock

“We’re likely to see these cyber criminals use stolen credentials from the past few years’ data breaches to compromise the security of even the most secure organisations. Even companies with good cyber protection have little protection against the reuse of passwords that have been collected in other breaches.”

  1. Slight decrease in crypto currency attacks

According to Kaspersky Lab, 2018 saw a rise in the malicious use of crypto currency miners, with virus attacks and malicious software against crypto miners growing almost fourfold.

Kaspersky predicts that crypto currencies as a means of payment will decline further in 2019, and this trend is expected to lead to a slight decline in crypto currency threats.

“In the face of huge commissions, slow transfers, a large price for integration, and, most importantly, a small number of customers, the use of crypto currency as a method of payment has declined steadily from 2017 and will continue to decline in 2019.”

However, those crypto currency threats that do occur will be focused on mining malware, with the intervention of new players and the continuation of the use of ransomware.

“In 2018, the META region became more appealing to cyber criminals, with financial and malicious crypto mining attacks taking centre stage,” notes Assolini.

“Illegal mining of crypto currencies increased dramatically to overtake the main threat of the last few years – ransomware. We believe the reason for this is that mining is silent and causes less impact that ransomware, making it less noticeable.”

  1. Mobile, in-the-app malware

While malware that runs on the Windows operating system vastly outnumbers malware for any other platform, users of mobile devices are increasingly subject to malicious activity that pushes malware apps to their phones, tablets, or other devices running Android and iOS, according to computer network security company Sophos’ 2019 Threat Report.

For some time, malicious versions of popular apps were predominantly found on third-party app stores. These can be sketchy places, hosting pirated and/or trojaned versions of legitimate apps, notes the report.

Unusual malicious campaigns affecting the Android platform – phishing-in-the-app – can be expected in 2019, warns Sophos.

“In 2018, we discovered one way that criminals can bypass the Play Market’s source code checks was by not including anything malicious in the app itself, but rather by making an app that, in essence, is a browser window to a phishing site. The apps, in this case, were designed in tandem with the phishing site so the user had a seamless experience,” notes the report.

  1. 5G deployments to fuel threats

A number of 5G network infrastructure deployments kicked off this year, and 2019 is expected to be a year of accelerating 5G activity. While it will take time for 5G networks and 5G-capable phones and other devices to become broadly deployed, experts predict growth will occur rapidly.

According to Symantec’s Cyber Security Predictions: 2019 and Beyond, growing 5G deployments and adoption will expand the cyber-attacks surface area.

“As a stepping stone to broad deployment of 5G cellular networks, some carriers are offering fixed 5G mobile hotspots and 5G-equipped routers for homes. Given the peak data rate of 5G networks is 10 Gbps, the shift to 5G will catalyse new operational models, new architectures, and, consequently, new vulnerabilities.

“Over time, more 5G IoT devices will connect directly to the 5G network rather than via a WiFi router. This trend will make those devices more vulnerable to direct attack.”

  1. IIoT attacks not slowing down

Industrial IoT (IIoT) attacks through cloud infrastructure and over-reliance on AI in cyber security systems are two critical risks for enterprises in 2019, according to Forcepoint’s 2019 Cyber security Predictions Report.

“In 2019, attackers will break into industrial IoT devices by attacking the underlying cloud infrastructure. This target is more desirable for an attacker – access to the underlying systems of these multi-tenanted, multi-customer environments represents a much bigger payday.”

Three elements expected to play a significant role in the increase of IIoT attacks, according to the report, are: increasing network connectivity to edge computing; the difficulty in securing devices as more compute moves out to the edge; and the exponential number of devices connecting to the cloud for updates and maintenance.

  1. The rise of SaaS

Gilad Peleg, CEO of cyber security firm SecBI, predicts that in 2019, the model of enterprise software deployed on-premises will gradually disappear as it’s replaced by Software-as-a-Service (SaaS).

Many of the resources once in the hands of corporates, like the database, e-mail server, ERP, CRM and others, will all move to the cloud, leaving enterprises vulnerable, he observes.

“SaaS’ greatest advantage is also its greatest weakness. With SaaS, you need much less IT. This is a benefit at first glance, but upon inspection, it becomes a problem – you don’t control the access, or the data. Therefore, you don’t know you were hacked, nor do you have the tools to know,” notes Peleg.

“The security implications here are that organisations will cease to have visibility into the perimeter and all the perimeter’s defences. As enterprises acknowledge, they are left blind by this change, and will thus need new visibility solutions.”


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E-Business

Confronting the Google Monolith: Survival Strategies for Online Businesses

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By Reuben Kalu.

In the vast expanse of the digital realm, Google looms large, an omnipresent force shaping the way we navigate, search, and conduct business online.

From its humble beginnings as a search engine to its current status as a multifaceted tech behemoth, Google has entrenched itself deeply into the fabric of the internet.

Its influence is undeniable, its reach unparalleled, and its ubiquity seemingly inescapable. But can you truly run an online business without Google?

The answer, in today’s digital landscape, is a resounding no. You have no choice.

Google’s dominance extends across multiple facets of the online world, making it virtually impossible for businesses to thrive without engaging with its ecosystem.

From search engine optimization (SEO) to online advertising, email services to analytics, Google’s suite of products and services permeates every aspect of the online business landscape.

Attempting to operate without Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

At the heart of Google’s influence lies its search engine, the gateway through which billions of internet users navigate the vast expanse of online content. .

Google’s search algorithms wield immense power, determining which websites rank prominently in search results and which languish in obscurity.

For businesses seeking to attract organic traffic and expand their online presence, optimizing for Google’s search algorithms is not merely advisable—it’s imperative.

But Google’s influence extends far beyond search. Consider Google Ads, the company’s advertising platform that enables businesses to reach targeted audiences through paid search, display, and video advertising.

With billions of searches conducted on Google each day, Google Ads provides unparalleled reach and visibility, allowing businesses to target potential customers with pinpoint accuracy.

Attempting to compete in the online advertising arena without leveraging Google Ads is akin to entering a battle unarmed—a futile endeavor destined for failure.

 

Moreover, Google’s suite of productivity tools, including Gmail, Google Drive, and Google Workspace, has become indispensable for businesses seeking to streamline their operations and enhance collaboration.

With seamless integration across devices and platforms, Google’s productivity tools offer unparalleled convenience and efficiency, empowering businesses to work smarter, not harder.

Attempting to eschew Google’s productivity suite in favor of alternative solutions is not only impractical but also unwise, depriving businesses of the tools they need to succeed in today’s fast-paced digital landscape.

Furthermore, Google Analytics stands as the gold standard for web analytics, providing businesses with invaluable insights into their online performance and audience behavior.

From tracking website traffic and user engagement to analyzing conversion metrics and customer demographics, Google Analytics offers a comprehensive toolkit for optimizing online marketing strategies and driving business growth.

Attempting to gauge online performance without leveraging Google Analytics is akin to flying blind, devoid of the critical data needed to make informed decisions and drive meaningful results.

But perhaps the most formidable aspect of Google’s influence lies in its role as a gatekeeper of information and access.

With billions of users relying on Google’s platforms and services each day, the company wields immense control over the flow of online traffic and the dissemination of information.

For businesses seeking to connect with customers and expand their reach, Google’s dominance presents both a tremendous opportunity and a formidable challenge.

Attempting to circumvent Google’s influence and establish an online presence independent of its ecosystem is a Herculean task, fraught with uncertainty and risk.

In essence, attempting to run an online business without engaging with Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

While alternative platforms and solutions exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage. You have no choice.

In conclusion, Google’s pervasive influence permeates every aspect of the online business landscape, making it virtually impossible to escape its grasp.

From search engine optimization to online advertising, productivity tools to web analytics, Google’s ecosystem encompasses a vast array of products and services that have become indispensable for businesses seeking to succeed in the digital age.

While alternative solutions may exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage.

You have no choice.


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Hydrogen Hosts Catalyst Workshop, Highlights Resilient Business Models for Fintech Startups

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As part of its mission to empower African businesses with tools needed to thrive, garner admiration, and foster global acclaim, leading payment solution company, Hydrogen Payment Services Company Limited (Hydrogen), recently partnered with the Co Creation Hub (CcHub), to host the latest edition of the Catalyst workshop in Lagos.

The discourse addressed the potential risks and opportunities for startups and saw experts advise participants on the need to develop resilient business models that would scale across different economic climes.

Moderated by Miracle Ezechi, Digital Marketing Manager, Hydrogen, the panel session addressed dominant issues about the theme: ‘Adapting Fintech Business Models to Economic Climes: Flexibility, Agility and Customer-centricity’.

Mr. Emeka Awagu, Chief Technology Officer, Hydrogen, who spoke as a panellist, addressed the issue of customer-centricity, which according to him, is key to Fintech growth.

He advised startups to listen to customer demands and understand their needs in order to develop the right solutions that will lead to long term market viability.

“Innovation is key for startup growth. However, understanding customers’ needs and change in behaviour will help any startup to innovate better.

“Startups must be flexible and agile to develop solutions with high interoperability and processing speed, and they must be ready to learn from startups that have failed,” Awagu said.

With an estimated 61.07 percent of startups failing, the participants stressed the need for prudence.

“Statistically, a staggering number of startups fail, often due to financial mismanagement. Hence, founders must prioritise understanding and maintaining a healthy the Cost-to-Earnings ratio.

“It is not just a number, but a pivotal indicator of a company’s financial health as well as being a key attractiveness determinant for investors,” Awagu added.

On his part, Ina Alogwu, the Group Director, Digital Transformation, ARM HOLDCO, who also spoke as a panellist at the session, stressed the need for startups to develop sustainable products and solutions that will help them remain competitive in an environment that is faced with harsh economic realities.

“Many startup businesses fail within their first five years, however upcoming startups should not be discouraged, rather develop a culture that will encourage them to understand the reasons for failure and learn from mistakes.

“Startups should not be too rigid with their solutions and should be ready to accept changes that will drive innovation,” Alogwu stated.

Hydrogen will be deepening its economic impact series with a webinar planned for Thursday, April 25, even as businesses across Africa continue to face an array of challenges, ranging from inflation and currency fluctuations to rising operating costs.

Themed ‘Navigating Economic Challenges: Strategies for Sustainable Growth,’ the webinar will delve into key areas critical for businesses to not only survive but thrive in the face of economic adversity. Register using this link – https://bit.ly/Hydrogenwebinar.

Esteemed panellists for this event include Taofik Odukoya, CEO, Vanguard Pharmacy, and Okechukwu Odimgbe, Chief Financial Officer, Hydrogen. The session will be moderated by Nnenna Sam-Obioha, Ecosystem Orchestrator, Hydrogen.

 


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Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

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Dexude, a leading edtech platform with operations in Nigeria, has announced that it has been awarded the prestigious Business Finland TEMPO funding.

Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

Charles Emembolu, founder of Dexude,

This significant funding injection marks a pivotal moment in Dexude’s journey towards transforming education through its AI-powered, live-first, expert-led, and community-driven platform.

The Business Finland TEMPO funding is specifically designed to support startups and SMEs aiming for international growth by building their expertise and solutions into international success stories in innovative ways.

Dexude’s commitment to innovation, coupled with its vision to enable a billion learners worldwide, aligns perfectly with the objectives of the TEMPO funding.

Commenting on this milestone achievement, Charles Emembolu, founder of Dexude, remarked, “We are incredibly honored and excited to receive the Business Finland TEMPO funding. This funding is not only a validation of Dexude’s mission to reinvent education but also a testament to the hard work and dedication of our team. With this support, we are poised to accelerate our efforts in democratizing access to quality education and empowering learners across Nigeria and beyond.”

L-r; Kelvin Chikezie, co-founder of Dexude; Kashifu Inuwa Abdullahi, Director-General/CEO of the National Information Technology Development Agency (NITDA); and Charles Emembolu, founder of Dexude

Kelvin Chikezie, co-founder of Dexude, added, “Securing the Business Finland TEMPO funding is a significant milestone for Dexude. It underscores our commitment to leveraging technology and innovation to revolutionize the way people learn and grow. We are grateful to Business Finland for believing in our vision, and we are excited to embark on this next chapter of Dexude’s journey.”

Dexude is on a mission to redefine education by providing learners with access to influential experts and thought leaders, live interactions, and a vibrant community-driven learning experience.

Through its platform, Dexude aims to break down barriers to learning and empower individuals to pursue their passions and unlock their full potential.

 

 

 

 


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