E-Business
Cybercrime Profits Estimated at $1.5 trillion

New criminal platforms and a booming cybercrime economy have resulted in $1.5 trillion in illicit profits being acquired, laundered, spent and reinvested by attackers.
This was one of the findings of a study commissioned by Bromium, a virtualisation-based endpoint security company.
Called ‘Into the Web of Profit’, the study was conducted by Dr Mike McGuire, senior lecturer in criminology at Surrey University, and draws from first-hand interviews with convicted cybercriminals, data from international law enforcement agencies, financial institutions, and covert observations conducted across the dark Web.
The Web of profit
According to Bromium, the study is one of the first studies to examine the dynamics of cybercrime by scrutinising revenue flow and profit distribution, instead of the mechanisms of cybercrime alone.
It looks at the cybercrime-based economy and the professionalisation of cybercrime. “This economy has become a self-sustaining system, an interconnected Web of profit that blurs the lines between the legitimate and illegitimate.”
Conservative estimates
The research shows cybercriminal revenues worldwide of at least $1.5 trillion, the same as the GDP of Russia, a number Bromium calls a ‘conservative estimate’. “If cybercrime was a country, it would have the 13th highest GDP in the world.”
This figure includes $860 billion made from illicit or illegal online markets, $500 billion from theft of trade secrets and intellectual property, $160 billion in data trading, $1.6 billion for Crimeware-as-a-Service, and $1 billion from ransomware.
According to the report, the dark economy is made up of a variety of operations, from large ‘multinational’ operations that rake in profits of over $1 billion, to SME-style entities where profits of between $300 00 and $50 000 are expected.
Platform criminality
In addition, the research revealed an emergence of ‘platform criminality’, mirroring the platform capitalism model employed by businesses such as Uber and Amazon, where data itself is the commodity. New criminality models are enabled by these platforms, which, in turn, fund broader scourges such as human trafficking, drugs and terrorism.
Gregory Webb, CEO of Bromium, says the report delivered ‘shocking insight’ into how profitable and widespread cybercrime really is.
“The platform criminality model is productising malware and making cybercrime as easy as shopping online. Not only is it easy to access cybercriminal tools, services and expertise, it means enterprises and governments alike are going to see more sophisticated, costly and disruptive attacks.”
A range of agents
The report also suggests that cybercrime shouldn’t be strictly compared to business, as by nature it is more like an economy, with a ‘hyper-connected range of economic agents, economic relationships and other factors’ that work together to generate, support and maintain criminal revenues at an ‘unprecedented scale’, says McGuire.
Because legitimate businesses and nation states are now profiting from cybercrime, the study believes there is now an interdependence between the legitimate and illegitimate economies. Organisations are acquiring data and competitive advantage from the dark economy, and using it as a tool for strategy, global advancement and social control, says Bromium.
“There is a range of ways in which many leading and respectable online platforms are now implicated in enabling or supporting crime (albeit unwittingly, in most cases),” says McGuire.
No hope of control
Ilia Kolochenko, CEO of web security company High-Tech Bridge, says the report is 100% right in saying that cybercrime has become a highly profitable and sustainable business that no government can hope to control.
However, he suggests that it may have missed some figures, because the most serious cybercrimes, such as nation-state attacks or offensive operations from large conglomerates against competitors, are rarely detected, yet alone exposed.
“Publicly accessible platforms in the dark Web have a lot of scam and fake ads intertwined with law enforcement honeypots, too,” adds Kolochenko.
And he says the fight against cybercrime isn’t getting easier. “Professional Black Hats usually have inconspicuous private platforms, lawfully hosted in AWS or Azure, with full encryption of all data. You cannot get access unless you are a long-standing and verified partner.
“Nothing is less certain than global cybercrime size and volume,” concludes Kolochenko.
E-Business
NITDA Introduces Cloud Certification Boost Data Localisation Compliance

National Information Technology Development Agency (NITDA) has introduced so-called Nigeria’s Certified Cloud Register, regulatory framework developed under the agency’s National Sovereign Cloud Initiative to determine which cloud providers are authorized to handle sensitive data, such as banking records.

In effect, from October, NITDA requires banks, fintech companies and other regulated organisations to source cloud infrastructure providers from a national register of certified firms approved to host sensitive financial and government data.
The Certified Cloud Register, is expected to strengthen data sovereignty, improve regulatory oversight and support the implementation of the Central Bank of Nigeria’s (CBN) data localisation policy, which takes effect on January 1, 2027.
Under the framework, banks, fintechs, government institutions and other regulated entities will be able to verify whether cloud service providers, data centre operators, managed service providers and Artificial Intelligence (AI) infrastructure companies have met NITDA’s certification requirements before entrusting them with critical digital workloads.
The initiative is expected to provide regulated institutions with a standardised process for selecting cloud infrastructure providers that satisfy Nigeria’s technical, security and regulatory requirements.
According to NITDA, the framework establishes “a common national standard, an independent assessment process and a public register of approved providers that banks, fintechs and government institutions can rely on when selecting cloud infrastructure partners.”
The register is expected to become a key compliance tool ahead of the CBN’s directive, which requires all payment transaction data generated within Nigeria to be stored and processed locally, effective from January 1, 2027.
The policy applies to deposit money banks, microfinance banks, mobile money operators, payment service providers, switching companies and other financial institutions.
The certification regime is also expected to reshape Nigeria’s cloud computing ecosystem, making regulatory approval a major requirement for cloud providers seeking to handle sensitive data for regulated industries.
Figures cited by NITDA showed that Nigeria’s 10 largest banks spent about N177.91 billion on information technology in the first quarter of 2026, representing a 31 per cent increase over the corresponding period last year.
A sizeable portion of the investment currently supports cloud infrastructure hosted outside Nigeria, a trend the new certification framework is expected to address by encouraging greater utilisation of compliant local infrastructure.
NITDA said the certification programme will apply the same technical and regulatory standards to indigenous cloud providers and international hyperscale operators, creating a level playing field for all companies seeking to provide cloud services to regulated sectors.
The agency also disclosed that more than 85 per cent of Nigerian businesses currently rely on cloud services, with the majority using infrastructure hosted outside the country.
It said the new framework is aimed at improving confidence in Nigeria’s digital infrastructure while promoting local capacity and enhancing oversight of critical national data.
Speaking on the objective of the initiative, Kashifu Inuwa Abdullahi, director-general of NITDA, said the programme is designed to strengthen Nigeria’s position in the global digital economy rather than exclude foreign technology companies.
According to him, the initiative is intended “to redefine the terms under which Nigeria participates in the global digital economy rather than isolate the country from international technology providers.”
The Certified Cloud Register forms part of broader efforts by the Federal Government to deepen digital trust, strengthen cybersecurity and ensure that critical financial and public sector data are managed in line with Nigeria’s evolving data governance and sovereignty objectives.
E-Business
Firm Advocates Healthy IT Habits to Strengthen Cyber Resilience

At the recent Cyber Security Weekend 2026 conference, Kaspersky shared the findings from its survey titled “Cybersecurity in the workplace: Employee knowledge and behaviour” which was conducted among employees from the Middle East, Turkiye and Africa (META) region.

The study highlights that everyday IT habits, including decluttering computers and reducing digital fatigue, can have a direct and often underestimated impact on an organisation’s cyber resilience.
The Kaspersky survey points to a growing challenge of digital fatigue in the workplace. 13.5% of employees surveyed in the META region confirmed that they made IT-related mistakes due to a lack of cybersecurity knowledge – a figure that shows the critical importance of continuous cybersecurity training and awareness programmes.
Among other reasons behind IT mistakes, respondents cited being in a hurry (30%), oversight (14%), being tired or stressed (12.9%) and having too many notifications (10%). The constant barrage of alerts, messages, and on-screen clutter is becoming an acute problem that can lead to costly IT errors, overlooked social engineering attacks, and even to cyber breaches.
The survey also examined employees’ digital workspace habits. An overwhelming 44.5% of respondents in the META region reported having between 10 and 20 icons on their desktop, while 30% admitted to having even more – with half to a full screen covered in them.
Meanwhile, 33% of respondents also keep more than 10 tabs open in their browser at any given time. Excessive icons and open tabs do more than distract attention and fuel procrastination – they can slow device performance and, in the case of unused applications, quietly collect data.
Interestingly, most employees regularly disinfect their keyboards and phone surfaces (21.5% have adopted this habit since the COVID pandemic). However, digital cleanliness has not kept pace: 55% of respondents remove needless files once a month or more often; the rest perform digital clean-ups far less frequently – once a quarter, or even once a year.
Managing digital noise is key to staying alert: only essential notifications should remain active, especially during periods of deep focus on critical project deliverables. Regular breaks are just as vital for maintaining both well-being and cyber vigilance.
According to the survey, 78% of respondents spend their work breaks eating or drinking, while 58% chat with friends and colleagues. However, stretching and physical exercise is a more effective way to relieve stress and recharge focus – a habit adopted by only 14% of employees.
“It is important to recognise that digital fatigue is a real and growing stress factor: the constant stream of notifications, cluttered screens, and information overload gradually erode focus and make employees far more susceptible to mistakes and social engineering attacks. Simplifying your digital environment is not just a productivity tip, it is a cybersecurity measure”, says Brandon Muller, senior security consultant for the META region at Kaspersky.
E-Business
Extremist Groups Are Using Social Media to Recruit African Youth, New Report Warns

Pan-African digital rights organisation Paradigm Initiative (PIN) has warned that violent extremist groups are increasingly exploiting digital platforms to recruit, radicalise and manipulate young people across the Sahel region.

The organisation raised the concern in a new policy brief titled “Digital Frontlines: Countering Online Radicalisation and Violent Extremist Narratives in the Sahel.”
According to the publication, extremist groups are shifting from traditional recruitment methods to digital platforms, including social media, encrypted messaging applications, short-form video platforms and online financial incentives, to target vulnerable populations.
PIN noted that unemployed youths and people facing insecurity and limited economic opportunities are particularly susceptible to online recruitment campaigns.
The organisation said that although governments have intensified efforts to combat violent extremism, responses to the digital dimension of the threat have failed to keep pace with rapidly evolving online tactics.
It argued that addressing online radicalisation requires more than surveillance and restrictive measures, recommending investments in digital literacy, stronger community resilience, improved early-warning systems and credible counter-narratives.
PIN also urged governments to work closely with technology companies and civil society organisations to disrupt extremist recruitment while protecting citizens’ digital rights.
The report further highlighted the growing convergence between organised crime and violent extremist groups, noting that online propaganda increasingly promises financial rewards, belonging and purpose to vulnerable young people.
According to the organisation, this trend underscores the need for policymakers to prioritise prevention alongside conventional security responses.
Speaking on the findings, Moussa Waly SENE, Programmes Officer for Francophone Africa at Paradigm Initiative, described the digital space as a new frontline in the fight against violent extremism.
“As more young Africans come online, stakeholders must ensure that digital platforms remain spaces for opportunity, innovation and civic participation, not recruitment grounds for violent extremist groups. Protecting digital rights and protecting vulnerable communities should be mutually reinforcing objectives,” he said.
Among its recommendations, the policy brief called for stronger regional cooperation to tackle cross-border online extremist networks, rights-respecting content moderation and greater accountability by digital platforms.
It also advocated expanded digital literacy programmes to strengthen resilience against online manipulation and community-led initiatives that empower young people to identify and reject extremist narratives.
The organisation further urged policymakers to develop security measures that balance national security objectives with the protection of privacy, freedom of expression and access to information.
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