Connect with us

E-Business

Curbing N127bn Cybersecurity Annual Losses via Tardigrade’s ERA Roadmap

Published

on

Kindly share this post

With cyber attacks on the rise, organisations across the globe are contending with loss of reputation, loss of customers, potential financial liabilities, regulatory notification requirements and sometimes, litigation.

To address this menace, however, Tardigrade, a Nollysoft’s Enterprise Risk Assessment (ERA) solution, has been identified by experts as a veritable roadmap that would provide a better understanding of the cybersecurity space and a good grasp of the internal control mechanisms to organisations towards cyber threats.

The greatest war that countries in the 21st Century currently face and which they must prepare to win headlong to actively participate in the global economy largely driven by the Internet is cyber warfare.

As such, the need for organisations to deploy a security solution that helps to identify factors contributing to and determining the organisation’s overall cyber risk; assess the organisation’s cybersecurity preparedness; evaluate whether the organisation’s cybersecurity preparedness is aligned with its risks; determine risk management practices and controls that are needed or need enhancement and actions to be taken to achieve the desired state and offers informed risk management strategies to organisations cannot be under-estimated.

Indeed, local and regional authorities, professional IT associations and various reports home and abroad have raised the sentiments around the danger posed by cyber threats and the need for each organisation to get its IT infrastructure weaponised through effective internal controls and security solutions.

Rising wave of concerns

For instance, the telecoms industry regulator in Nigeria, the Nigerian Communications Commission, has noted that cybersecurity has become an essential component of the human activity. This was the position of the Executive Vice Chairman of the Commission, Prof. Umar Danbatta, at a cybersecurity forum in Lagos,where he noted that cyber attacks’ high level of complexity requires action at different levels (both virtual and physical) and by different actors, including governments, private sector, civil society, intergovernmental organisations, among others.

According to him, the current scale and growth of ICT applications transcend all spheres of social and economic boundaries worldwide. “Whether it is broadcasting (digital TV) or social networking, e-Commerce (mobile banking and financial services), e-Governance (government services management, e-education, e-health, e-taxation, e-commerce), governments, institutions and the society, in general, are increasingly embracing these technologies and at the same time becoming exposed to vulnerabilities of cyber-attacks,” he said.

He, therefore, strongly advocated that technical measures such as theNollysoft’s Enterprise Risk Assessment (ERA) solution and appropriate legal instruments must be put in place to enhance the resilience of cybersecurity infrastructure and safeguard cyber technologies users.

In the same vein, Secretary-General of the Commonwealth Telecommunications Organisation (CTO), Mr. Shola Taylor, has also raised serious concerns about the dangers of cyber attacks and the need for a synergy by stakeholders to mitigate and, if possible, prevent their potential risks on organisations IT infrastructure.

According to Taylor, “Cyberspace contributes significantly to achieving countries’ national development goals, and so international organisations, national security services, operators, intelligence and data protection agencies, as well as citizens all, have a role to play in making cyberspace safer and more resilient,” he said, while sharing the CTO’s experience in developing national cybersecurity strategies for Commonwealth member countries as well as other countries, including Senegal last year.

Potential risks, exposures and losses

In Nigeria, over N127 billion is lost annually by mostly business organisations and ministries, departments and agencies (MDAs) of government, translating to 0.08 per cent loss in the `country’s annual Gross Domestic Product (GDP), according to the country’s Minister of Communications, Adebayo Shittu.

Also,62 per cent of firms are being attacked weekly, according to a 2017 International Data Corporation (IDC) InfoBriefsponsored by Splunk. In the report, it was noted that with malware becoming more advanced with encrypted ransomware, the security breach impacts on organisations may include loss of reputation, loss of customers, potential financial liabilities, regulatory notification requirements and sometimes litigation instigated by victim customers.

President, Cyber Secure Conference organised by the Cyber Security Experts Association of Nigeria (CSEAN), Mr. Remi Afon quoted another statistics, which puts the cost of cyber-crime globally at $700 billion per year.He said the loss is projected to rise to about $2 trillion by 2019, due to the rapid digitisation of consumer lives and company records. Breaches like these have steadily been on the rise as according to reports, the number of incidents has increased by more 38 per cent annually since 2015.

According to U.S. State of Cybercrime survey, Ponemon Institute, and Juniper research, cybersecurity events and costs are increasing, data breaches are expected to reach $2.1 trillion globally by 2019.

Thus, Afon argues that there is a need for Nigeria to implement the National Cyber Security Strategy and Policy and ensure effective implementation of the Cybercrime Act 2015 as well making organisations embrace the newest solution. One of such security solutions ready to tackle cyber attacks on organisations in the country is Tardigrade, a Nollysoft’s Enterprise Risk Assessment (ERA) solution.

This is instructive as industry experts have said organisations in Nigeria are in dire need of cyber experts that could help secure the cyberspace and one of the ways to boost protection is to embrace and deploy innovative solutions offered by security company/experts.

Tardigrade – an Enterprise Risk Assessment (ERA) solution to the rescue

In the industry today, Tardigrade, an Enterprise Risk Assessment (ERA) solution, introduced into Nigeria by Nollysoft, towers among other Risk assessment solutions present robust impact assessments and strategic security solutions to organisation by helping them to have in place processes that ensure they understand their gaps and state of preparedness to respond to cyber breaches.  Senior Management and Board of organisations are often faced with the following key concerns among several: How protected is their organisation from internal and external threats, is the organisation a direct target for attacks?, who is accountable for assessing and managing the risks posed by changes to the business strategy or technology?

Others are how effective is their system of internal control and being applied? how do they compare to competitions and how do we compare with our peers in the industry?

Tardigrade solution effectively addresses these concerns.

According to industry experts, organisations need a good handle on the cyber threats and risks their organisation may face. They also need to have a grasp of whether their system of internal control is effective, or basically, need to implement specific security controls from standards such NIST 800-53 or ISO 27001.

The Tardigrade assessment solution helps organisations to understand their cybersecurity and internal control risks so that they can implement appropriate mitigation controls to achieve a desired state of preparedness.

“Tardigrade Cybersecurity Assessment helps organisations identify their risks and determine their cybersecurity preparedness.  The assessment solution provides businesses with repeatable and measurable processes to inform senior management of their organisations’ cybersecurity preparedness over time,” said Sola Koleowo, Chief Executive Officer of Nollysoft Limited on behalf of the company.

The ERA solution, Koleowo, said is based on best practice frameworks set by Federal Financial Institution Examination Council (FFIEC), Information Technology Examination Handbook (ITEH), National Institute of Standards and Technology (NIST), Cybersecurity Framework (CF)and International Standard Organisation (ISO 27001) and regulatory guidance.

According to him, the Tardigrade Internal Control solution enables organizations to understand deficiencies in their system of internal control to allow the creation of effective mitigating control to help achieve business objectives. It is based on industry standard and best practices framework – Committee of Sponsoring Organisations of the Treadway Commission (COSO).

On the security requirement traceability matrix, Koleowo said, “Tardigrade Security Requirement Traceability Matrix solution allows organisations to effectively select security controls from standards and regulations for implementation either as a part of a Secure Software Development Lifecycle (SSDLC) or regulatory mandate,” stressing that the solution currently supports 2 industry standards: NIST 800-53 R4 and ISO 27001-2013, and two regulations: Sarbanes-Oxley (SOX) and Monetary Association of Singapore (MAS).

The total cost of ownership (TCO) of Tardigrade solution is low.  No CAPEX  needed to acquire the solution.  It is a Cloud-based solution and being offered as a service.

Last Line

Leveraging innovative enterprise risk assessment solution such as Tardigrade by organisations from private to public sectors of the economy will not only guarantee effective protection for user organisations but also help curb losses to the national economy. This is just as industry analysts say the arrival of Tardigrade will raise the bar of organisations’ protection against potential cyber threats and associated losses.

 


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Continue Reading
Advertisement
Comments

E-Business

Kaspersky Reports 15% Growth in Malicious email Attacks in 2025

Published

on

Kindly share this post

According to Kaspersky telemetry, almost every second email – 44.99% of global traffic – was spam in 2025. Spam consists not only of unsolicited emails, but can also include various email threats such as scam, phishing and malware.

In 2025, individuals and corporate users encountered over 144 million malicious and potentially unwanted email attachments, representing a 15% increase compared to the previous year figures.

In 2025, APAC had the largest share of email antivirus detections: it reached 30%, followed by Europe with 21%. Next came Latin America (16%) and the Middle East (15%), Russia and CIS (12%) and Africa (6%). As for individual countries, China had the highest rate of malicious and potentially unwanted email attachments, with the share of email antivirus detections of 14%. Russia ranked second (11%), followed by Mexico (8%), Spain (8%) and Turkey (5%).

Email antivirus detections peaked moderately in June, July and November.

Key trends in email spam and phishing

Kaspersky’s annual analysis has also identified several persistent trends in the email spam and phishing threat landscape that are expected to continue into 2026:

  • Combination of various communication channels. Attackers lure email users into switching to messengers or calling fraudulent phone numbers. For instance, scam investment mailings may redirect victims to fake websites, where they are asked to provide their contact information, and then cybercriminals will follow up with a phone call.
  • Usage of diverse evasion techniques in phishing and malicious emails. Threat actors frequently try to disguise phishing URLs, for example, with the help of link protection services and QR codes. These QR codes are often embedded directly in email bodies or within PDF attachments, which not only conceals phishing links but also encourages users to scan them on mobile devices, potentially exploiting weaker security measures than corporate PCs.
  • Mailings exploiting diverse legitimate platforms. For example, Kaspersky experts discovered a fraudulent tactic that abuses OpenAI’s organisation creation and team invitation features to send spam emails from legitimate OpenAI addresses, potentially tricking users into clicking scam links or dialing fraudulent phone numbers. Additionally, a calendar-based phishing scheme, which originated in the late 2010s, resurfaced last year with a focus on corporate users.
  • Refining tactics in business email compromise (BEC) attacks. In 2025 attackers attempted to become even more persuasive by incorporating fake forwarded emails into their correspondence. These emails lacked thread-index headers or other headers, making it difficult to verify their legitimacy within an email conversation. 

“Email phishing shouldn’t be underestimated. Our report reveals that one in ten business attacks starts with phishing, with a significant proportion being Advanced Persistent Threats (APTs). In 2025, we saw an increase in the sophistication of targeted email attacks. Even the smallest details are meticulously crafted in these malicious campaigns, including the composition of sender addresses and the tailoring of content to real corporate events and processes.

“The commodification of generative AI has significantly amplified this threat, enabling attackers to craft convincing, personalised phishing messages at scale with minimal effort, automatically adapting tone, language and context to specific targets,” comments Roman Dedenok, anti-spam expert at Kaspersky.

 


Kindly share this post
Continue Reading

E-Business

Cybersafe Foundation Partners Google to Strengthen Cybersecurity Among CCIs in Africa

Published

on

Kindly share this post

The Cybersafe Foundation has collaborated with Google in strengthening cybersecurity resilience among Critical Community Institutions across Nigeria, Kenya, Ghana and South Africa with the launch of Resilio Africa.

 

Speaking at the event in Lagos, Confidence Staveley, Executive Director of the Cybersafe Foundation, noted that while many organizations recognize the risks posed by cyber threats, conversations often stall when it comes to implementation.

“Across Africa, Critical Community Institutions are facing an increase in cyberattacks often without the capacity to defend themselves. Sub-Saharan Africa is now experiencing some of the most aggressive cyber activity globally. According to a threat report by Kaspersky, the region recorded over 42 million web attacks and 95 million malware-based, on-device attacks in just the first half of 2025.

“What’s especially concerning is the nature of these attacks: spyware, password stealers, and backdoor tools dominate, with password-stealing malware increasing by more than 60%.

“In East Africa, the scale is even more stark. Kenya alone recorded 2.5 billion cyber-threat events in Q1 2025, driven largely by phishing, mobile money fraud, and misconfigured cloud services,” she stated.

According to her, the primary barrier is not a lack of willingness but limited financial capacity to fund adequate cybersecurity measures.

“The conversation drops off at the point of taking action,” she said, explaining that many institutions lack the budgets required to implement robust security systems.

She disclosed that the programme’s provision of 10,000 hours of expert cybersecurity consultation—offered at no cost to participating institutions would ordinarily represent services valued at over one million dollars. The support, funded through a grant from Google.org, will be delivered by specialists across four participating countries.

Staveley reaffirmed that the Cybersafe Foundation remains a non-profit organization focused on supporting vulnerable communities and institutions, and described Resilio Africa as a strategic intervention aimed at strengthening digital trust across the continent, ensuring that commerce and essential public services can operate securely in an increasingly digital society.

Although the programme currently covers Nigeria, Kenya, Ghana and South Africa, Staveley acknowledged that the cybersecurity challenges extend far beyond those countries, and expressed hope that demonstrated impact from the initial phase would attract additional funding to scale the initiative to more than the 200 critical community institutions currently targeted, including underserved Francophone nations.

“This work is free to the organizations we serve, but it is not free to deliver,” she noted, underscoring the need for sustainable funding.

Explaining her personal motivation, Staveley said she views Africa’s cybersecurity challenges as opportunities for impact. Despite her engagements on global platforms, she emphasized her commitment to Nigeria and the broader African continent, describing the region as both home and a priority.

She pointed to a growing mismatch between rising cyber threats and limited investment in cybersecurity infrastructure, arguing that bridging this gap is central to the Foundation’s mission.

Staveley also clarified that Resilio Africa will not collect or own user data from participating institutions. Instead, the programme will focus on strengthening internal controls, building capacity and guiding organizations toward improved data protection practices.

With Resilio Africa now underway, the Cybersafe Foundation aims to demonstrate how targeted support for critical community institutions can enhance digital security and build long-term resilience across Africa’s rapidly expanding digital economy.


Kindly share this post
Continue Reading

E-Business

Kaspersky Brings more Transparency to Threat Detection with New Hunt Hub

Published

on

Kindly share this post

Kaspersky has announced a major update to its Threat Intelligence Portal (TIP), introducing a new Hunt Hub section alongside an enhanced MITRE ATT&CK coverage map and a significantly expanded vulnerabilities database.

The update strengthens organisations’ ability to investigate threats, understand adversary behaviour, and proactively monitor the most relevant risks across their environments.

According to the Kaspersky Security Bulletin 2025 report, Kaspersky’s detection systems discovered an average of 500,000 malicious files per day in 2025, marking a 7% increase compared to the previous year. As cyberattacks become more sophisticated and frequent, security teams need more than alerts – they need clarity.

The newly launched Hunt Hub is designed to address growing market demand for greater transparency and deeper insight into how modern detection technologies work. Integrated into the Threat Landscape section of the Threat Intelligence Portal, Hunt Hub provides centralised access to Kaspersky’s threat hunting expertise and detection knowledge.

Hunt Hub includes Kaspersky Next EDR Expert hunts, also known as indicators of attack (IoA) or detection rules. All portal users can explore the catalogue of hunts and their descriptions, while Kaspersky Next EDR Expert customers gain extended access to detailed recommendations and detection logic presented in a convenient, SIGMA-like format. Each hunt is mapped to relevant MITRE ATT&CK tactics and techniques and linked to known threat actors, giving analysts clear context behind every detection.

By making detection logic visible and structured, Hunt Hub effectively removes the “black box” from threat detection. It allows security teams not only to respond to alerts, but also to understand why a detection was triggered and which threat it is designed to uncover – improving trust in security technologies and increasing the efficiency of threat investigation processes.

As part of the update, the MITRE ATT&CK coverage map within the Threat Landscape has been significantly enhanced. The portal now brings together product coverage across SIEM, EDR, NDR and Sandbox solutions, MITRE ATT&CK techniques with scoring, coverage percentages, and related Kaspersky Next EDR Expert hunts in a single, unified view. This enables organisations to assess how well their security stack covers relevant attack techniques and identify potential gaps in protection.

The Vulnerabilities section has also been expanded, with the CVE database now covering nearly 300,000 vulnerabilities. In addition, the portal provides more detailed information on vulnerabilities that have been exploited in real-world attacks, helping organisations prioritise remediation efforts based on actual threat activity.

“With the launch of Hunt Hub in the Kaspersky Threat Intelligence Portal, we are opening up our detection expertise and giving analysts clear visibility into how and why threats are detected. This transparency helps organisations move from reactive alert handling to informed threat hunting and proactive risk management,” comments Nikita Nazarov, Head of Threat Exploration at Kaspersky.

 


Kindly share this post
Continue Reading

Trending