E-Business
Delegate Responsibility not Accountability- Keele
Allen Keele is a certified fraud examiner, information security manager, information systems auditor and information systems security professional, among 20 other professional and technical accreditations. He shares over 17 years of experience in information security and risk management, including nine years of conducting professional advanced business lectures and seminars across the globe. Keele spoke to hilary okeke on a range of issues.
Training on Fraud Detection and Management
In information security, one of the most important things we have is not always having information security itself but having the internal control to be sure that we have information security. I wrote the text that most people use to prepare for Certified Information Systems Auditors (CISA) exams around the world. In that context, a lot of the controls that the internal auditors monitor have to do with controlling internal breaches and abuse. So, it would make logical sense to extend my auditors knowledge and expertise and interest into internal fraud detection and management. I was shocked to find in my younger days that 90 percent of frauds can be detected through the books. So many organizations tell you that they have no fraud problem but when you take a careful look, you find that there actually is a problem. People device all kinds of means to get money out their organizations without doing anything on the book. That was very concerning to me as an auditor. Fraud in itself is a disaster for an organization. It could lead to loss of market share if made public. Organizations need to be prepared for that kind of disaster just the same way they prepare for fire. So that is why we extended our training to business continuity, disaster recovery, as well as a new perspective on fraud. There are lots of folks out there who offer training on business continuity and disaster recovery, but what we are doing that is unique in the market is that we are not trying to project our best practices; we are teaching according to the new British standard – BS 25999. It is a new international standard designed to keep your business going during the most challenging and unexpected circumstances. It provides a basis for understanding, developing, implementing and managing business continuity within your organization and gives you confidence when dealing with stakeholders both within and outside your organization. BS 25999 has been developed by a group of experts representing a cross-section of industry sectors and governmental organizations which is reflected in its applicability. The standard is suitable for any organization, large or small, from any sector. It is particularly relevant for those that operate in a high risk environment such as the finance, telecommunications, transport, utilities and public sectors, where there is need for continuity. I have had a lot of organizations tell me they went for training a couple of years ago – the British standard may have existed a couple of years ago for training, but it just got ratified recently. There was no standard prior to BS 25999. So, this is a whole new world in terms of getting the certification to prove that your organization has the ability to manage fraud and disaster. Often times, organizations do things because regulators make them. Now more than ever, you have financial regulators requiring you to prove that you have strong control against fraud but you do not even have a fraud policy.
Best Security Strategy for an Organization
The best security strategy is first, to have one. Whether it is fraud, business continuity or information security; organizations have this odd tendency to casually appoint people within the organization to handle those areas. They point to the IT or compliance person – somebody who does not understand that area, and that person has to go and figure out what controls to put in place to get things working. So the problem is that currently, there is no strategy. Nobody has stopped to think “we need to be at 95 percent for fraud capacity at all times, no matter what.” They leave it up to the discretion of people who are not actually accountable for the business. That is wrong! Maybe you have an inexpensive web server that manages your brand new e-commerce that supports 90 percent of your business but because it was not expensive, your IT manager complains that it goes down all the time and that he is going to have it replaced in two weeks. Two weeks for e-commerce? That is why we said that the most important strategy is to have one. It is not just my idea, it is ISO 27001 standard for information security, which instructs that you get a strategy in place. I have always recommended that organizations should first have the right people that are actually accountable for that decision and have them make the decisions for a change. You can delegate responsibility but you cannot delegate accountability.
Networking and Telecommunication in Auditing, Internal Control
ICT has a very important role to play in internal control because auditors control access to information which IT does too. Auditors also control how information is used and how transactions are processed. Over the years, automated control organizes business functions and that has reduced loss of money. So, IT is able to put controls in place but then again, depending on how well it is managed, there might also be some vulnerability. In detecting and managing fraud, you need asset combination. I have often asked people in my classes if their organizations are committed to preventing, detecting and minimizing fraud. And they say yes, absolutely! I ask them to show me a policy that says: “Our organization does not want fraud, and this is what we are going to do to stop it.” They have no fraud policy! Shockingly, a policy is nothing more than a statement of management that states the way things are done within an organization. If you say that controlling fraud is a good objective, where is the policy that not only says it is wrong but also says here is who should be looking for it; here is who should be investigating it and here is what we do if we find it. A fraud policy is where senior managers say “not only am I going to accept responsibility, but I will accept accountability for something going wrong.”
Legal and Ethical Issues Facing IT Auditors
The legal and ethical issues are similar for IT auditors as they are for financial auditors. As an IT auditor, it is possible that you would be dealing with irregular or illegal acts. Towards that end, you have to be careful whom you release information to – there is always tendency for you to be exposed to sensitive information about an organization that you have to protect. As you are investigating issues, you have to be sure that you do not breach privacy laws. For instance, there are laws now that protect account information for people who have bank accounts. Imagine if during the course of an IT audit, the auditor compromised your account, and your account number and access code was made public. That auditor could be in for a lot of legal hassle.
E-Business
Nigeria Targeted with 4,622 Cyber-attacks Per Week in December 2025

In December 2025, organisations globally faced sustained cyber pressure, as the average number of cyber-attacks per organisation per week reached 2 027, a 1% increase from the previous month and a 9% increase from December 2024.

This is according to December 2025 Global Cyber Attack Statistics by Check Point Research, the threat intelligence arm of Check Point Software Technologies.
According to the statistics, Latin America was the hardest hit, with companies experiencing an average of 3 065 cyber-attacks per week, a 26% year-over-year increase.
In contrast, Africa saw a decline in attacks, with Nigeria (4 622 attacks per week) and Angola (4 002 attacks per week) being the most targeted countries on the continent.
The report’s findings highlight the evolving cyber threat landscape, with ransomware and GenAI-driven data risks posing significant challenges to companies worldwide.
Ransomware attacks jumped 60% year over year, with 945 publicly reported incidents in December. Qilin was the most active ransomware operator, responsible for 18% of publicly disclosed attacks.
“Ransomware continues to scale through industrialised operations, while unmanaged GenAI usage is creating widespread data exposure at enterprise level,” said Omer Dembinsky, data research manager at Check Point Research.
The report noted the education sector was the most targeted industry globally, with 4 349 cyber attacks per week; followed by government (2 666 attacks per week); and associations and non-profits (2 509 attacks per week).
The widespread adoption of GenAI tools has introduced new cyber security risks, with one in 27 GenAI prompts posing a high risk of sensitive data leakage.
Experts warn that companies must prioritise prevention-first security, real-time AI threat intelligence and strong governance over AI tools to mitigate these risks.
Hendrik de Bruin, head of security consulting at Check Point Software, added: “Strengthening ransomware resilience, deploying AI-powered prevention and enforcing clear GenAI governance will be critical to reducing cyber risk in the year ahead.”
E-Business
Half of Global Companies Build SOCs to Enhance Cybersecurity, with a Focus on Human Expertise

Among the primary reasons for establishing a Security Operations Center (SOC) are strengthening cybersecurity posture, enabling faster detection and response and gaining a competitive edge.

Interestingly, despite the increasing demand for automated cybersecurity solutions, businesses rely on skilled security professionals to make key decisions, as human expertise remains essential for effective security management.
A Security Operations Center (SOC) is a dedicated organisational unit responsible for continuous monitoring and safeguarding of a company’s IT infrastructure. Its core mission is to proactively detect, analyse and respond to cybersecurity threats.
To identify the main drivers, strategic priorities, and potential challenges in SOC planning and implementation, Kaspersky has conducted a comprehensive global study involving senior IT security specialists, managers and directors from companies with 500 or more employees.
All participants operate without a SOC but have plans to establish one in the near future. The study spans 16 countries across APAC, META, LATAM, Europe, and Russia, providing valuable insights into the emerging trends and best practices in SOC development worldwide.
The findings of the research reveal that 50% of companies intend to establish SOCs to strengthen their cybersecurity posture, and 45% are motivated by the need to address increasingly sophisticated and dangerous threats.
Other drivers include budget optimisation, the necessity for faster detection and response, and the expansion of software, endpoints and user devices – factors that demand more comprehensive and layered security measures.
These are cited by 41% of organisations. Additionally, 40% seek better protection of confidential information, 39% aim to meet regulatory requirements and one-third (33%) expect SOC capabilities to provide a competitive edge. Larger enterprises tend to cite each of these reasons more often, reflecting the broader operational and regulatory pressures they experience.
Continuous monitoring becomes the leading SOC requirement
Among the key functions organisations plan to delegate, 24/7 security monitoring leads at 54%. This around-the-clock vigilance enables early detection of anomalies, prevents escalation and sustains cyber resilience in real-time. This demand highlights a strategic requirement for proactive risk management, as organisations aim to defend against persistent threats that can strike at any moment.
Companies intending to fully outsource SOC operations show a stronger interest in applying “lessons learned” methodologies, whereas those developing internal SOCs focus more on access management to maintain tighter control.
Human expertise drives SOC technology choices
While SOCs use advanced technology, the choices made by organisations show that human analysts are very important. Among the solutions that organisations plan to include in SOC are – Threat Intelligence Platforms (48%), Endpoint Detection and Response (42%) and Security Information and Event Management systems (40%) – sophisticated solutions that automate data collection and reduce operational load, however, they depend heavily on skilled security professionals who provide critical context, interpret complex findings and make final decisions when guiding appropriate responses.
Other solutions chosen include Extended Detection and Response (38%), Network Detection and Response (37%) and Managed Detection and Response (33%). Large enterprises tend to adopt more technologies (5.5 per SOC on average), while smaller ones integrate fewer (3.8).
“To successfully build a SOC, companies must prioritise not only the right mix of technology but also the careful planning of processes, clear goal-setting and effective resource distribution.
“Well-defined workflows and continuous improvement are essential to ensure that human analysts can focus on critical tasks, making the SOC a proactive and adaptable component of their cybersecurity strategy,” comments Roman Nazarov, Head of SOC Consulting at Kaspersky.
E-Business
Nigerian Terra Industries Secures $11.8m for Expansion

Terra Industries, a Nigerian defence technology startup, has raised $11.75 million to expand its development of defensive systems that protect critical facilities across Africa.

The fundraising round was led by Silicon Valley venture firm 8VC, which was founded by Palantir co-founder Joe Lonsdale.
Other investors in the round include Valour Equity Partners, Lux Capital, SV Angel, and Nova Global, as well as African-focused funds Tofino Capital, Kaleo Ventures, and DFS Lab.
Terra Industries, founded in Abuja by Nathan Nwachuku and Maxwell Maduka, provides multi-domain security solutions for both air and land. Its solutions are intended to detect and respond to threats including terrorism, sabotage, and armed attacks on infrastructure.
The company’s product portfolio includes surveillance drones, ground-based robotic systems, and fixed monitoring towers deployed around sensitive locations.
Co-founder and CEO Nathan Nwachuku said the company has now fully embraced its identity as a defence-focused startup, citing the growing urgency of security challenges across Africa.
He said safeguarding critical infrastructure from terrorist threats has become unavoidable.
Nwachuku argues that protecting Africa’s infrastructure requires a different approach, one that combines local manufacturing, end-to-end system control, and software capable of independently identifying and responding to threats over large areas.
The company aims to position itself as a defence prime, similar to the role played by firms such as Anduril Industries and Palantir in the United States.
Nwachuku also disclosed that the company had earlier raised $800,000 in pre-seed funding.
With the new funding, Terra plans to increase manufacturing capacity within Africa, establish additional defence production facilities, and expand its artificial intelligence and software teams.
While software offices are planned for San Francisco and London, the company said manufacturing operations will remain on the continent.
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