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Big Data: Fraud, Finances
Financial institutions have been working hard to implement technologies which better protect them and their customers.
Innovations such as chip and PIN have made cards more secure, while the introduction of two-factor authentication has also greatly helped.
However, none of these systems are perfect and fraud levels continue to rise in many countries.
Fortunately this is an area where big data can make a significant difference.
Fraud detection relies upon the use of both relational data and non-relational data – structured and unstructured data.
Banks know where our home branch is and they know within a standard range of incidences how often we take out money or use our cards.
They know where we work and the types of transactions we make most commonly. These known quantities form part of the fraud detection process.
The unpredictability of humans….
But the nature of human beings is that we do not always stick to the path most travelled. Consider a man buying an engagement ring. This is a perfect example of something which many people may only ever do once in their lives.
Looked at in terms of that data point it appears to be an entirely random act.
A man on the hunt for an engagement ring may never even have set foot in a jewellers shop in his life.
He will almost certainly have never spent a month’s wages on a single item of jewellery. In the world of data analysis such screaming anomalies should be cause for concern.
So why are more people not challenged when making this kind of transaction? Because it is incumbent upon banks not to leave us frustrated or without cash in our hour of need.
The man buying an engagement ring may have enough on his mind without having his card declined at the point of sale. For every transaction, a bank or a card issuer is dynamically analysing data and weighing up the risk of fraud.
The key lies of course in big data.
There are many types of data, unrelated even to the individual which can quickly be referenced – in split seconds thanks to the power with which big data is processed – from data relevant to that individual, such as past travel habits, to data relevant to the nature of the suspect transaction.
Patterns of where fraud has been conducted and past behaviours of the rightful card owner are a key element in detecting and predicting fraud, to the extent that diverse frauds can be traced quickly back to specific businesses where a rogue employee may be stealing card numbers or cloning cards.
Banks now have that reservoir of data related to fraudulent activity and quickly assess the likelihood of transactions being suspect.
Back to our hopeful man shopping for an engagement ring, he may go unchallenged because that reservoir of data shows that very few fraudsters try to conduct card fraud in jewellery shops. This may be because of high levels of CCTV coverage in such shops.
…is actually quite predictable
Believe it or not, the apparently unusual purchase of engagement rings is actually fairly predictable. Somebody may never have bought an engagement ring before, but his card issuer may see from his profile that he fits the bill of somebody due to.
A recent mortgage, an increased focus on saving, a second name appearing on a credit card, an expensive holiday in contrast to the budget breaks or golf holidays he has been on with his friends in the past, regular outlay on home furniture which suggests he is setting up home with somebody, a move from a sporadic expenditure on food to a more structured approach which suggests more nights in at home, less time spent in bars, more time in restaurants.
These are all behaviours which become powerful data points in the overall modelling of customer profiles.
He may think his purchase of an engagement ring is extraordinary and a huge step but his bank – or at least the data it holds – may have been able to tell it was coming for some time.
Ultimately, data has the ability to look at us dispassionately and non-judgmentally. We may think it outrageous that we celebrate a birthday once a year by spending over the odds on dinner at a fancy restaurant we’d never normally visit on any other day of the year.
But if this is something we only do once a year then the data barely needs to be sweated to find an answer as to whether this is fraudulent behaviour.
Once per year may seem occasional to us, or even out of character, because it is at odds to the way we behave on the other 364 days of the year, but the data sees a creature of habit.
It knows it’s our birthday – not least because our date of birth is among the relational data held about us. That fact can easily be linked to any spike in spending on that date.
Even our one-off purchases are almost certainly not as one-off as we think. Most people exercise a degree of financial caution and display behaviours our banks will be able to understand from the data they collect and analyse.
We may only buy one engagement ring in our lives but the money spent on that engagement ring will almost certainly be within a predictable parameter based on our salary, our regular outgoings and the value of our mean and median purchases and the statistical outliers we will have created with purchases such as a car or a house.
All of this means that the vast majority of our spending is reassuringly predictable.
The insights into our behaviour that big data analysis brings about provides a clear benchmark against which fraudulent activity can be rapidly identified and shut down.
Adebayo Sanni is country director at Oracle

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E-Business
Kaspersky Gives Advice on How to Make AI for Children Safer @ Safer Internet Day

Born between 2010 and 2025, Gen Alpha aren’t just growing up with technology – they’re actively living it. These digital natives are already wielding smartphones, tablets, and AI-powered tools with the confidence of seasoned users, navigating everything from gaming and social media to online learning platforms with remarkable ease.

But the question that concerns parents and security experts is whether we are giving our children too powerful technology, too soon. On Safer Internet Day, Kaspersky security experts are sharing practical tips to help parents turn AI from a potential threat into a trusted ally for the younger generation.
The first line of defence is building AI awareness
Children have already discovered that ChatGPT, DeepSeek and other neural networks can answer questions faster than you can find the right answer in Google, and Alexa can play music without pressing a single button.
So, the only solution is to become children’s AI support. Begin by explaining that these digital assistants aren’t friends, pets, or even real people. They’re sophisticated tools that can be helpful, but also potentially misleading, biased, or simply wrong. Then teach them to cross-check information with multiple sources, just like they’d verify facts in a school project.
When discussing AI with children, emphasise that they should never fully trust AI answers, especially for sensitive topics like health, mental wellbeing, or safety concerns. Always encourage them to verify information and never share personal details or documents with AI systems.
Enabling safety filters
Most AI platforms and smart devices come with built-in safety features that are often overlooked or misunderstood. Spend some time checking the privacy settings and content filters and, if possible, tailor them to match your family’s values and your child’s maturity level. This is a basic protection against inappropriate content, privacy breaches, and potentially harmful interactions.
However, not all services and platforms provide an opportunity to set up content filters and fully control children’s online activity. To create a safer digital environment for your children consider using parental control tools like Kaspersky Safe Kids. It allows parents to not only hide inappropriate content and prevent specific apps and websites from being opened but also helps balance children’s time spent online with screen time management.
Checking the AI-powered apps authenticity
In a world where AI apps are popping up faster than you can say “chatbot,” verifying app authenticity is essential. Only download apps from official stores and inform your children about the importance of not installing anything from unfamiliar sources. Look up the company behind the app and check whether they have a website and legitimate business presence. Teach your kids to limit their app’s permissions and do not give access to data unless it’s necessary for the apps to work.
Staying involved and informed
A basic understanding of the range of problems your child is willing to entrust to AI is already significant. By asking simple questions like “What did you ask AI today? Did it give you the right answer?” you’ll be teaching your children to openly discuss with you the use of AI and problems they might face. When they mention using ChatGPT for homework, ask them to show you what they’ve learned. When they talk about their favourite voice assistant, ask about the topics they like to discuss and funny particularities they noted.
“When you actively participate in your child’s AI journey, you transform from a concerned parent into a trusted guide. They’ll seek your input because they know you’re interested in their digital experiences, not just trying to control them. But while allowing children some AI freedom, you must always remain vigilant about their online safety and healthy growth,” comments Andrey Sidenko, Cyber Literacy Projects Lead at Kaspersky.
News
NITDA Supports CAC AI Driven Transformation

By Oluwole Alao
Kashifu Inuwa CCIE, the Director General of the National Information Technology Development Agency (NITDA), has pledged the Agency’s full support for the Corporate Affairs Commission’s (CAC) artificial intelligence–driven transformation as the Commission marked its 35th anniversary in Abuja.

Delivering a goodwill message at the celebration, which was held at the Ladi Kwali hall of the Abuja Continental Hotel, Inuwa commended CAC for its uncommon consistency and resilience, noting that while many organisations rise and fall after initial success, CAC has continued on a steady growth trajectory.
“We know organisations go up and come down, but some will keep thriving, thriving, and thriving, and today, this is what we are witnessing for CAC,” he said.
Reflecting on his early engagement with the Commission, the NITDA boss recalled that the Registrar General made organisational transformation a priority from the very start of his leadership, particularly in embracing digital innovation.
According to Inuwa, the current era demands more than basic digitisation, stressing that meaningful transformation can only be achieved through the integration of artificial intelligence into core operations.
“We are in the AI era, and the only way to transform today is to embrace and integrate AI into your operations. This is exactly what the Registrar General is doing,” he stated.
He assured CAC of NITDA’s commitment to working closely with the Commission to embed AI across its numerous processes, explaining that the technology would infuse intelligence into workflows, simplify company registration and business management, and strengthen cybersecurity.
“We will make sure you integrate AI into CAC processes. With AI, it will infuse intelligence in everything you do and make things easy for Nigerians to register companies and manage businesses,” Inuwa averred.
The NITDA DG added that deploying advanced AI tools would help CAC staff stay ahead of fraudsters and curb hacking and fraudulent alterations of company records, while also safeguarding the system through responsible deployment.
“At NITDA, we will make sure you deploy ethical and responsible AI in your operations, with the right guardrails in place,” he assured.
He further described CAC’s digital reforms as bold and impactful, noting that the Commission has reduced company registration timelines from several months to as little as 24 hours. He added that further integration of AI would enhance name search and reservation, automate filings, improve corporate governance, and significantly reduce fraud.
He also highlighted NITDA’s ongoing role in reviewing CAC’s digital and AI transformation roadmaps, providing guidelines, standards, training support, and safeguards to ensure sustainable, people-centred, and secure digital services.
The NITDA DG congratulated CAC management, staff, and members of the National Assembly for their support, expressing confidence that the partnership would further strengthen Nigeria’s digital business environment in the years ahead.
Telecom
Sophos Expands AI Capabilities with Arco Cyber Acquisition

Sophos, a global leader of innovative security solutions for defeating cyberattacks, today announced it has acquired UK-based Arco Cyber, a cybersecurity assurance company dedicated to helping organizations improve their security posture while staying ahead of compliance requirements and emerging threats.

Sophos
The acquisition is an important step in Sophos’ strategy to help organizations strengthen cybersecurity strategy and governance across all levels of maturity, delivered through the company’s global partner ecosystem.
Sophos refers to this as Sophos CISO Advantage, a set of capabilities designed to scale the knowledge, judgment, and operating discipline of a world-class CISO to organizations with or without dedicated security leadership, combining agentic AI, integrated platforms, and trusted human expertise delivered in partnership with managed service providers (MSPs) and managed security service providers (MSSPs).
Advances in agentic and AI-assisted systems now make it possible to deliver real-time insight into control performance, while remaining grounded in human oversight and judgment.
Arco Cyber accelerates this vision by adding capabilities that help organizations continuously validate whether security controls are effective, map controls to risk and compliance frameworks, and present clear, executive-ready insight that supports better decision-making.
“There is no shortage of exemplary security technology in the market,” said Joe Levy, CEO of Sophos. “What’s missing for most organizations is the ability to govern those tools, understand whether controls are actually working, and make informed decisions about risk. Arco has built a platform and a team that offers clarity, accountability, and proof.
“That work directly supports our strategy, and it gives customers a stronger foundation for simplifying compliance and managing cyber risk with confidence.”
A critical element of Sophos CISO Advantage is the role of MSPs and MSSPs in delivering these capabilities at scale. Most organizations rely on trusted partners to translate insight into action, provide context, and guide day-to-day decision-making.
Sophos CISO Advantage is designed to strengthen that relationship by equipping partners with AI-driven governance, continuous assurance, and clear risk insight, enabling them to deliver CISO-level leadership as a service.
This approach allows MSPs and MSSPs to elevate their role from technology operators to strategic security advisors, while giving customers greater clarity, control, and confidence in how cyber risk is managed.
Addressing a Leadership Gap in Cybersecurity
There are an estimated 359 million organizations worldwide, yet fewer than 32,000 have a Chief Information Security Officer (CISO).
Those with CISOs or other dedicated security leadership also require clear risk assessments, governance, prioritization, and demonstrability of security effectiveness to boards, regulators, and insurers.
“As cybersecurity matures beyond alerts and point solutions, organizations are increasingly focused on proving impact, not just activity,” said Phil Harris, Research Director, Governance, Risk and Compliance Solutions at IDC. “Boards, regulators, and insurers want clear evidence that security investments are reducing risk and strengthening governance. Platforms that integrate detection and response with assurance, advisory, and risk-based measurement are better aligned with how organizations actually operate.
“The Sophos and Arco Cyber combination represents a new category of platform-led cybersecurity that connects operations, assurance, and risk-based outcomes.”
For organizations with a CISO or similar leadership, Sophos CISO Advantage will provide a more efficient, integrated way to manage risk, track progress, and communicate outcomes. For organizations without one, it will deliver practical, CISO-level guidance that helps them take control of their security posture and decisions.
“Arco was founded to help organizations move from assumption to proof in cybersecurity,” said Matt Helling, CEO and co-founder of Arco Cyber. “By joining Sophos, we can deliver against that mission and reach far more customers who are struggling to demonstrate control effectiveness, prioritize risk, and justify security decisions.
“Sophos shares our belief that cybersecurity should deliver clarity, confidence, and control, not just data. Together, we can help organizations of all sizes turn security into a managed, defensible business discipline.”
Arco Cyber will join Sophos as a dedicated team to advance Sophos CISO Advantage. Its technology and expertise will be integrated into Sophos Central, the platform which delivers Sophos’ broader ecosystem including advisory services, managed detection and response (MDR), and partner-delivered services that enable MSPs and MSSPs to scale cybersecurity strategy for their customers.
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