E-Business

Global Enterprises Loss Over $315Bn to Organized Crime Annually

Published

10 years ago

March 18, 2014

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Enterprises worldwide are expected to spend nearly $500 billion in 2014 to deal with issues caused by malware deliberately loaded onto pirated software — $127 billion dealing with security issues.

Middle East and Africa will account for $8 billion of the costs and $364 billion dealing with data breaches, according to a new joint study conducted by IDC and the National University of Singapore (NUS).

Global consumers, on the other hand, are expected to spend $25 billion, including Middle East and African consumers who will pay $2 billion, on security threats and costly computer fixes stemming from malware on pirated software.

This will also amount to 1.2 billion hours of wasted time in 2014.

The study, titled “The Link Between Pirated Software and Cybersecurity Breaches,” also revealed that 60 percent of consumers surveyed say their greatest fear from infected software is the loss of data, files or personal information, followed by unauthorized Internet transactions (51 percent) and hijacking of email, social networking and bank accounts (50 percent).

However, 43 percent of those same respondents do not install security updates, leaving their computers open to attack by cybercriminals.

“There is now a firm link between the detected malware on illicit software and criminal organizations, for which malware in pirated software can be a lucrative vector for cyberattacks. With many of these criminal organisations also behind the distribution of infected software, it means that an increase in software piracy translates to an increased vulnerability to cyberattacks,” said Daniel Kamau, anti-piracy lead for sub-Saharan Africa. “In the sub-Saharan region, the internet population is fast growing, meaning a large and unsuspecting base of targets to cybercriminals. Combine this with the lack of strong cybercrime laws and high piracy rate on the continent and its clear why we’re seeing more and more people fall victim to attacks.”

Government officials expressed concern about the potential impact of cybersecurity threats to their nations. According to the survey, governments are most worried about the loss of business trade secrets or competitive information (59 percent), unauthorized access to confidential government information (55 percent), and the impact of cyberattacks on critical infrastructure (55 percent).

It is estimated that governments could lose more than $50 billion to deal with the costs associated with malware on pirated software.

The African continent accounts for only 2 percent of global GDP, yet it accounts for 10 percent of global cybercrime incidents.

Across the continent, governments are increasingly partnering with local associations and vendors to combat the scourge of piracy and the associated risk of cybercrime.

In Nigeria, Microsoft has already partnered with the Nigerian Copyright Commission (NCC) to combat piracy, which according to the 2011 BSA Global Software Piracy Study, currently sits at 83% across the East and Southern Africa region.

On this occasion of “The Microsoft Play it Safe Day”, The Nigerian Copyright Commission (NCC) would like to remind all Nigerians that:

a) “Supplying pirated software material is a criminal offence under The Copyright Act, which can earn the supplier, a fine of up to a 1000 Naira for each offending item and or a custodial sentence of up to 5 years in prison. Furthermore, anyone who buys pirated software material may find themselves being charged as an accessory to a criminal offence.

“b) Apart from the criminal charge; supplying pirated software material, is also a civil infringement of the copyright owners’ rights; which apart from the criminal sentence, can also simultaneously attract heavy monetary damages against the offending supplier.

“c) Using pirated software, leaves the computer or other implicated system of such user exposed to malware, cybercrime/cyber insecurity, which can put sensitive personal and or business information at risk, “ Afam Ezekude, executive director, Nigerian Copyright Commission.

The Nigerian Copyright Commission, encourages all Nigerians to “Play It Safe”; stay out of prison; keep you from punitive civil liability; protect your computers and digital systems from malware and cybercrime, do not supply or patronize pirated software.

“Cybercriminals are profiting from any security lapse they can find, with financially devastating results for everyone,” said David Finn, executive director and associate general counsel, Microsoft Cybercrime Center.

“Motivated by money, they’ve found new ways to break into computer networks so they can grab whatever they want: your identity, your passwords and your money. That’s why at the Microsoft Cybercrime Center, we’re focused on putting an end to these malicious acts to keep personal and financial data safe and secure, while reducing the financial incentive for criminals.”

The study was released yesterday as part of Microsoft’s “Play It Safe” campaign, a global initiative to create greater awareness of the connection between malware and piracy.

Additional highlights from the survey include that nearly two-thirds of enterprise losses ($315 billion) will be at the hands of organized criminals.

Also nearly 20 percent of the pirated software in enterprises is installed by employees.

And twenty-eight percent of enterprise respondents reported security breaches causing network, computer or website outages occurring every few months or more; 65 percent of those outages involved malware on end-user computers.

“Using pirated software is like walking through a field of landmines: You don’t know when you’ll come upon something nasty, but if you do it can be very destructive,” said John Gantz, chief researcher at IDC. “The financial hazards are considerable, and the potential losses could leave once-profitable businesses on shaky ground. Buying legitimate software is less expensive in the long run — at least you know that you won’t get anything ‘extra’ in the form of malware.”

The NUS forensics analysis of 203 new PCs loaded with pirated software found that a staggering 61 percent of the PCs were pre-infected with unsafe malware, including Trojans, worms, viruses, hacktools, rootkits and adware.

These PCs, purchased through resellers and PC shops in 11 markets, included more than 100 discrete threats.

“It is hugely concerning that brand new PCs are coming pre-infected with dangerous malware due to pirated software, making the users and companies readily vulnerable to security breaches,” said Professor Biplab Sikdar, Department of Electrical & Computer Engineering, National University of Singapore.

“The university’s forensic tests clearly indicate how cybercriminals are increasingly leveraging the unsecure supply chain of piracy to spread malware and compromise PC security in a serious way. We would only recommend usage of genuine software for online safety and cybersecurity.”

The global study surveyed 1,700 consumers, IT workers, chief information officers, and government officials in Brazil, China, France, Germany, India, Indonesia, Japan, Mexico, Poland, Russia, Singapore, Ukraine, the United Kingdom, and the United States, and analyzed 203 computers acquired in Brazil, China, India, Indonesia, Mexico, Russia, South Korea, Thailand, Turkey, Ukraine, and the United States.

This year’s research is an extension of IDC’s 2013 study, “The Dangerous World of Counterfeit and Pirated Software,” differentiated by the attitude of government officials as well as the analysis of new markets, making the economic connection to cybercrime.

Whether an individual user, a small business, enterprise or even a government institution, all are encouraged to buy new computers from reputable sources to ensure they receive genuine software.

Microsoft said it is committed to protecting its unsuspecting consumers from downloading or purchasing no genuine software that exposes victims to malware that can lead to identity theft, loss of data and system failures.

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E-Business

FG to Fnalise National Intellectual Property Policy Soon– NCC Boss

Published

2 days ago

April 27, 2024

Comms Week

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Dr John Asein, director-general, Nigerian Copyright Commission (NCC), has said that the federal government is taking steps to finalise its National Intellectual Property (IP) Policy and Strategy for the country.

Asein disclosed this on Friday while commemorating the 2024 World Intellectual Property Day with the theme “IP and the SDGs: Building Our Common Future with Innovation and Creativity’’ in Abuja.

The that the Day is observed every April 26 to celebrate the importance of intellectual property (IP) rights to encourage innovation and creativity.

The director-general was represented by Mr Emeka Ogbonna, director of Legal.

NCC boss said the policy would serve as a blueprint for a more efficient modern and responsive legal and administrative framework for the country to leverage on its creative and innovative potential.

He said that the day underscored the power of innovation and creativity in achieving the Sustainable Development Goals (SDGs) and shaping a sustainable and inclusive future for humanity.

According to him, the SDGs represent a universal call to action to end poverty, protect the planet, and ensure prosperity for all by the year 2030.

“IP rights play a pivotal role in fostering innovation, creativity, and technological advancements. They provide the framework that encourages men and women to develop new solutions that address global challenges.

“It is the lynchpin for incentivising the use of creative and innovative ideas to solve many of the challenges that confront humanity.

“This year’s World IP Day reminds us that intellectual property can be a powerful tool for social, economic, and environmental development.

“It encourages individuals, businesses, and governments to leverage IP rights to drive innovation, create jobs, and build resilient communities.

“By aligning our intellectual property policies and strategies with the objectives of the SDGs, we can accelerate their achievement,’’ NCC boss said.

He said in the spirit of the “Renewed Hope Agenda’’ of the present administration, government had also shown appreciable commitment to the creative industry as a major sector of the economy.

“As one of the agencies responsible for the wholesome development of the creative sector, the Nigerian Copyright Commission will continue to provide the needed institutional, legal and administrative support for the protection, promotion, regulation and enforcement of copyright.

“The commission will pay particular attention to using the copyright system to advance Goal 1 (No poverty); Goal 4 (Quality education); Goal 5 (Gender equality).

“And Goal 8 (Decent and economic growth); Goal 9 (Industry, innovation and infrastructure) and Goal 17 (Partnerships to achieve the goals).

“We are aware that the goals would have to be adapted to fit the peculiar needs of intellectual property which is an intangible asset.’ ’he added.

The director-general, who said that the commission focused on the 17 SDGs to address emerging challenges, called on authors, innovators, users, IP experts and other stakeholders to reflect on the vulnerability of the nation’s fragile knowledge and creative ecosystem.

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E-Business

NITDA, ICF Train 100 Schoolgirls in ICT Skills

Published

2 days ago

April 27, 2024

Chike Onwuegbuchi

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The National Information Technology Development Agency (NITDA) and Illmi Children’s Fund (ICF) have trained 100 schoolgirls in digital and Information and Communication Technology skills training.

Mrs. Maryam Augie-Abdulmumin, ICF Executive Director, confirmed this in a statement on Thursday in Lagos.

The graduation followed the training of the schoolgirls in ICF and NITDA’s DIGITGALS 2.0 programme, a collaborative initiative aimed to equip adolescent girls in Abuja with critical digital and ICT skills.

Augie-Abdukmumin said the DIGITGALS 2.0 centred around essential digital literacy, programming fundamentals, digital marketing and communication skills, and cybersecurity awareness.

She added that the girls were equipped with the confidence to compete and excel in a globalised digital economy. The graduation was in commemoration of the 2024 International Girls in ICT Day celebration on April 25.

DIGITGALS 2.0 is in its second phase and empowered 100 senior secondary school girls selected from five government schools in the Federal Capital Territory.

The girls aged between 15 and 18 years were equipped with the knowledge and tools needed to thrive in the digital world and address the growing demand for ICT skills in the 21st century.

Augie-Abdulmumin reiterated the importance of bridging the digital gap in the country starting with the girl-child.

“This graduation ceremony on International Day of Girls in ICT is a powerful symbol of our commitment to closing the digital gender gap.

This programme made possible through our partnership with NITDA, and signifies a crucial step towards bridging the digital gender gap.

It also fostering a future where women are active leaders in the tech industry. This is also an opportunity for these girls to take charge of their own future,”.

Mr Kashifu Abdullahi, the Director-General of NITDA, commended the collaborative efforts of ICF in making the DIGITGALS 2.0 a reality.

According to him, building a diverse and inclusive digital workforce is critical for Nigeria’s success.

“We are proud to collaborate with ICF on DIGITGALS 2.0 to empower these young women to become active participants in the tech industry. This programme showcases the importance of collaborative efforts in bridging the digital gender gap.

These girls have been equipped with essential digital skills, and ICF and NITDA are confident they will become active contributors to Nigeria’s thriving tech landscape,”.

ICF is a non-profit organisation dedicated to improving the lives of children, from underprivileged backgrounds, through education, healthcare, technology and entrepreneurship initiatives.

NITDA is a public service institution established in 2007. It functions as the ICT policy implementing arm of Nigeria’s Federal Ministry of Communication and Digital Economy.

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E-Business

Confronting the Google Monolith: Survival Strategies for Online Businesses

Published

3 days ago

April 25, 2024

Comms Week

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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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