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Cisco Security Report Documents Unprecedented Growth of Malicious Traffic

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The Cisco 2014 Annual Security Report, reveals that threats designed to take advantage of users’ trust in systems, applications and personal networks have reached startling levels.

The report indicates a shortage of more than a million security professionals across the globe in 2014.

The sophistication of the technology and tactics used by online criminals—and their nonstop attempts to breach networks and steal data—have outpaced the ability of IT and security professionals to address these threats.

Most organizations do not have the people or the systems to continuously monitor extended networks and detect infiltrations, and then apply protections, in a timely and effective manner.

The report’s findings offer a vivid picture of rapidly evolving security challenges facing businesses, IT departments and individuals.

Attacker methods include socially engineered theft of passwords and credentials, hide-in-plain-sight infiltrations, and exploitation of the trust required for economic transactions, government services and social interactions.

Speaking on the report, Mr. Dare Ogunlade, general manager, Cisco Nigeria, Ghana, Liberia and Sierra-Leone said, “Organizations across Africa must realize that it is no longer if they will targeted by cyber-attacks, but rather when,” “Chief Information Security Officers face growing pressure to protect terabytes of data on an increasingly porous network, manage information safely especially on the cloud, and evaluate the risks of working with third-party vendors for specialized solutions – all in the wake of shrinking budgets and leaner IT teams.”

Highlights of the report include that there are increased sophistication and proliferation of the threat landscape.

Simple attacks that caused containable damage have given way to organized cybercrime operations that are sophisticated, well-funded, and capable of significant economic and reputational damage to public and private sector victims.

Also, increased complexity of threats and solutions due to rapid growth in intelligent mobile device adoption and cloud computing provide a greater attack surface than ever before.

New classes of devices and new infrastructure architectures offer attackers opportunities to exploit unanticipated weaknesses and inadequately defended assets.

Ogunlade added that cybercriminals have learned that harnessing the power of Internet infrastructure yields far more benefits than simply gaining access to individual computers or devices.

These infrastructure-scale attacks seek to gain access to strategically positioned web hosting servers, nameservers and data centers—with the goal of proliferating attacks across legions of individual assets served by these resources.

By targeting Internet infrastructure, attackers undermine trust in everything connected to or enabled by it.

He said that Sourcefire acquisition now gives Cisco complete security portfolio.

By combining Sourcefire’s deep knowledge of advanced threats and analytics expertise with Cisco’s industry leading Email and Web Security solutions, customers benefit from unmatched visibility and control combined with the most cost-effective, seamless approach to addressing advanced malware problems.

Cisco has added its Advanced Malware Protection (AMP), originally developed by Sourcefire, into its Content Security Portfolio of products, including Web and Email Security Appliances and Cloud Web Security Service

“Although the Cisco Annual Security Report paints a grim picture of the current state of cyber security, there is hope for restoring trust in people, institutions and technologies – and that starts with empowering defenders with real-world knowledge about expanding attack surfaces. To truly protect against all of these possible attacks, defenders must understand the attackers, their motivations and their methods – before, during and after an attack.

“Today’s advanced threats that can attack hosts through a combination of different vectors require a continuous security response versus point in time solutions. Web and Email gateways do a large amount of heavy lifting in the threat defense ecosystem, blocking the delivery of malicious content. With the Sourcefire acquisition Cisco is now able to provide customers in East Africa with the best advanced malware protection from the cloud to the network to the endpoint”, Mr. Ogunlade added.

Key Findings

•           Overall vulnerabilities and threats reached the highest level since initial tracking began in May 2000. As of Oct. 2013, cumulative annual alert totals increased 14 percent year-over-year from 2012.

•           One-hundred percent of a sample of 30 of the world’s largest Fortune 500 company networks generated visitor traffic to Web sites that host malware. Ninety-six percent of networks reviewed communicated traffic to hijacked servers. Similarly 92 percent transmitted traffic to Web pages without content, which typically host malicious activity.

•           Java continues to be the most frequently exploited programming language targeted by online criminals. Data from Sourcefire, now a part of Cisco, also shows that Java exploits make up the vast majority (91 percent) of indicators of compromise (IOCs).

•           Specific business sectors, such as the pharmaceutical and chemical industry and the electronics manufacturing industry, historically have had high malware encounter rates. In 2012 and 2013, there was remarkable growth in malware encounters for the agriculture and mining industry—formerly a relatively low-risk sector. Malware encounters also continued to rise in the energy, oil and gas sectors.
Cisco is the worldwide leader in IT that helps companies seize the opportunities of tomorrow by proving that amazing things can happen when you connect the previously unconnected.


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Nigeria Ranks Second as Africa Domain Name Registrations Hit 4.33m

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In the latest study commissioned by the Internet Corporation for Assigned Names and Numbers (ICANN) in collaboration with PowerSoft Africa, Nigeria moved up to second place in the Africa Domain Name Industry.


L-R:Dr. Bosun Tijani, minister of Communications, Innovation and Digital Economy; Kashifu Inuwa, director general, National Information Technology Development Agency (NITDA), and Adesola Akinsanya, president, Nigeria Internet Registration Association (NiRA)

Similarly, African country code Top-level Domains report shows 4.33million registrations as of November 2023 and additional 1.4 million generic top level domain registrations from African entities.

Covering 54 countries in Africa, the ICANN report released by the Coalition for Digital Africa at ICANN80 in Kigali, Rwanda, shows that high Internet access costs continue to limit widespread usage, with the average African spending about 4% of their monthly income on 1GB of data – twice the global affordability target.

Also, the projected average annual overall growth in the number of domain names across the continent is 12.4%, suggesting significant opportunities for local providers in individual country.

On infrastructure, the report indicates Over 1.1 million kilometres of terrestrial and submarine fiber cables interconnect the continent, enhancing cross-border communications and internet access, and a significant concentration of web content and domain hosting remains within only a few countries, underscoring the need for more localized Internet service.

For Nigeria, the report shows that “as with South Africa and Kenya, Nigeria has multiple undersea cables. The ccTLD is well run as there are now six IXPs and multiple Data Centres.

“Nigeria’s biggest advantage is its huge population and large economy. Nigeria has the highest number of Internet users on the continent. Coming in just after Kenya on the number of ccTLD domains but ahead on gTLD domains, Nigeria also has a high score from its six IXPs.

Speaking at the unveiling of the report, Sally Costerton, ICANN’s Interim President & CEO, said that report that sheds light on the growth, challenges, and opportunities within the Domain Name System (DNS) across Africa.

“Building on the initial study conducted in 2016, this study provides critical insights into how the landscape has evolved and where it is headed.

The study is an integral part of ICANN’s commitment to support the growth and development of the Internet’s infrastructure, namely the DNS infrastructure, in a highly dynamic region.

It was also created in response to a request from the African community within the context of the implementation of the ICANN Africa Regional Plan for Fiscal Years 2021-2025”.

She said that the recommendations focus on key areas such as infrastructure development, regulatory adjustments, and capacity building, which are crucial for harnessing the full potential of the DNS industry in Africa.

According to recent NiRA report, the .ng domain name, Nigeria’s Internet country code top-level domain (ccTLD), has crossed 215,000 registrations.

Commenting on the report, Mr. Adesola Akinsanya, President of the Nigeria Internet Registration Association (NiRA), expressed delight on Nigeria’s domain name growth trajectory.

According to him, the report is a reflection of NiRA and other stakeholders’ efforts, particularly, the registrars, towards deepening the country’s DNS industry.

In his words, “the study that was done regarding the DNS industry in Africa and I am privy to the first edition in which Nigeria was not even in the top three. Today, we are number two in Africa. It shows that the efforts of NiRA, both past and present EBoD and the secretariat staff, alongside the registrars, our efforts are making impacts.

“The study also shows the commitment of the registry in making sure that the best practices in the DNS industry are followed.

“Secondly, this is a continental rating; we are not the ones praising ourselves. The message we (NiRA) has for the DNS community in Nigeria is that we do not have any other country. So, .NG is our collective passport in the digital space. From businesses, web developer community, registrars, businesses and individuals adopting .NG, we salute your efforts.

“We can do more, because we are not the first yet. There are lots of grounds to cover. So, let’s push for more adoption of the .NG while we tackle all necessary challenges on the way”, Akinsanya said.

Murtala Abdullahi, the CEO of Smartweb Nigeria Limited, one of the NiRA registrars, said the report shows increased acceptability of the .NG brand.

He added that the country is privileged to have huge population with a lot of individuals and businesses showing interest in the .NG domain name.

“Two years back, we have people adopting more of .com.ng, but today they are converting to .NG. We register more of the .ng than even the .com.

“So, people are now beginning to understand the value of the .ng in terms of the optimization, SEO and other things.

“And another factor is the exchange rate. So, it helps to boost the adoption of .ng, because in terms of price competitiveness, .com is around N20,000 while .ng is below N15,000.

On his part, Sir Remmy Nweke, the Lead Consulting Strategist, DigitalSENSE Africa Media, and a leading voice in .NG advocacies, said he was glad that efforts of both NiRA BOT and the EBoD is paying-off, stressing the need for more vanguards for the .NG adoption in the country.

He said, “I’m excited in the sense that despite that, we’re not there yet, we’re making steady progress. So, it is a way of encouragement that the study came out positively for us. And I’m sure we will continue to collaborate to make sure that whatever is being done is on progressive line to make sure that even if it is next year, or in the next few years that we’re going to conduct this exercise again, there must be improvements on our internet adoption, local hosting and other variables.

“In general, .ng is our brand. So, every Nigerian is expected to buy into this dream. Get at least one domain for yourself. And then when you use it, always make time to share the stories of how you are using it. If you have issues, please report back to us (NiRA) so that it will be resolved”.

According to the report, Google indexes a total of 44.3 million web pages under the .NG domain, significantly up from 16 million, in the year under review.

 


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Sterling Bank Adopts Blockchain Technology to Revolutionise Credential Verification

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Sterling Bank, has partnered with the School of Politics, Policy, and Governance (SPPG) to revolutionise credential verification through blockchain technology.

The bank in a statement noted that this collaboration marks a significant milestone in enhancing the efficiency, security, and accessibility of academic credentials in Nigeria.

Commenting on the collaboration, the Chief Growth Officer Sterling Bank, Obinna Ukachukwu, stated: “We are thrilled to partner with VX Technologies and SPPG to introduce this game-changing initiative.

“We believe in the power of innovation to drive progress and transform lives at Sterling Bank. By supporting the adoption of blockchain technology in education, we are not only revolutionizing credential verification but also advancing our H.E.A.R.T strategy for Education, which prioritizes Access and Equity.”

On his part, Ryan Hawkos, Director of Operations, VX Technologies, added: “We are pleased to acknowledge the impactful generosity of Sterling Bank, who has provided the funding necessary for the initial phase of this project. This support ensures that thousands of SPPG alumni can access their digital certificates, with the first one thousand certificates being provided at no cost.”

According to the Chief Executive Officer of SPPG, Alero Ayida-Otobo, “Sterling Bank’s commitment to quality and positive educational experiences for people is yet again demonstrated here in their commitment to supporting the adoption of innovative technology across the educational ecosystem.

“We are one of the first institutions in Nigeria to embrace blockchain for academic credential management, and we look forward to a near future where this is the norm across Nigeria,” he added.


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NDPC Slams N400m Fine on Four Banks, Three Firms for Data Violation

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Nigeria Data Protection Commission (NDPC), has fined four banks and three companies N400 million for breaching data of Nigerians.

NDPC Slams N400m Fine on Four Banks, Three Firms for Data Violation

Vincent Olatunji, national commissioner, NDPC,

The NDPC also said that over the past year, more than 1000 financial institutions, schools, insurance companies, and consultancy firms have undergone investigations for breaches of citizens’ data.

Vincent Olatunji, national commissioner, NDPC, disclosed this while speaking of the implementation of the NDPC Act, since June 14 when the nation’s data protection law was enacted.

He added that there are ongoing investigations concerning data infractions.

According to Olatunji the activities of the NDPC have led to increased levels of compliance with the Nigeria Data Protection Act in both the private and public sectors.

He said: “When we started, the level of compliance within the private sector was about 49 percent while the public sector was 4 percent. But today, private sector compliance is above 55, while the public sector has reached 15 percent,” Olatunji said.

“The nation’s data ecosystem is now worth over N10 billion and the commission considers it imperative to ensure that citizens’ data are safe, secure and protected in line with global best standards and practices.”

He further said Nigeria is now at the forefront of the activities of the global data assembly due to the Data Protection Act 2023 and the impact of the data ecosystem on the national economy as nations like Kenya, Ghana, China, Singapore, and Malaysia, among others now share experiences with Nigeria.

“The Data Protection Act 2023 is a major milestone for Nigeria. Mr President laid our apprehension to rest when he signed the Act on June 12, 2023,” he said.

“It was a major turnaround for the industry. Now the data ecosystem is beyond everybody because it is a global phenomenon due to the impact of technology.

“In terms of jobs and wealth creation, promotion of tourism, perception and attraction of foreign direct investments into Nigeria, we have taken a leapfrog and even overtaken some countries.

“And that’s why Nigeria was given the hosting right for 2024 All African Data Protection Commission’s and Institutions. About 30 countries will be here next year for the event.”

Olatunji said the NDPC now collaborates with the Central Bank of Nigeria (CBN), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), and other regulatory organisations to make sure stakeholders under their supervision abide by the Data Protection Act.

According to Olatunji, capacity building, awareness raising, and stakeholder engagement have raised the bar for compliance within the ecosystem.

He also said to check the activities of digital loan platforms, the commission collaborated with CBN, the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Economic and Financial Crimes Commission (EFCC) and other regulatory authorities.

The national commissioner, however, said awareness would continue to be created for vulnerable Nigerians who become victims of the loan sharks due to ignorance.

Olatunji also said the country’s population and landmass are a challenge to a total clampdown on the digital loan sharks as most of them operate from isolated or remote areas without known addresses.

 

 

 


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