E-Financial
Digital “Pickpockets” Compromise Over a Million Banking Accounts – Kaspersky
More than one million online banking accounts were compromised by infostealers last year, as financial cyberthreats shifted toward credential theft and data reuse.
Pic credit…cybelangel.com
Attackers are moving away from traditional PC banking malware and increasingly relying on social engineering and dark web marketplaces, while mobile financial malware continues to grow.
Detailed information on current financial cyberthreat trends is available in Kaspersky’s new report.
These digital “pickpockets” often exfiltrate data and remove themselves within seconds, making them difficult to detect.
They are a primary source of initial access for ransomware and identity theft
Traditional financial phishing has not gone away. Pages that mimicked e-shops dominated the financial phishing landscape (48.5% in 2025, up 10.3% from 2024), followed by banks (26.1% in 2025, down by 16.5% from 2024) and payment systems (25.5% in 2025, up by 6.2% from 2024). The decline in bank phishing may suggest that these services are becoming increasingly difficult to successfully impersonate, and fraudsters are turning to easier ways to access users’ finances.
Attackers are adapting campaigns to regional digital habits. In the Middle East, financial phishing is overwhelmingly concentrated on e-commerce (85.8%), indicating a heavy reliance on online retail lures, whereas in Africa bank-related phishing leads (53.75%), which may indicate that user account security there is still insufficient. Latin America shows a more balanced distribution but with a higher share of e-commerce and bank targeting, while APAC and Europe display a more even spread across all three categories, pointing to diversified attack strategies.
In 2025, the decline in users affected by financial PC malware continued as users increasingly rely on mobile devices to manage their finances. Contrary to PC banking malware, mobile banker attacks grew by 1.5 times in 2025 compared to the previous year.
Complementing traditional financial malware, infostealers played a significant role in enabling financial crime both on PCs and mobile devices by harvesting login credentials, cookies, bank card numbers, crypto wallet seed phrases, and autofill data from browsers and applications, which attackers then used for account takeovers or direct banking fraud. Kaspersky data pointed to a surge in infostealer detections (up by 59% globally, 53% in Africa and 26% in the Middle East, on PCs from 2024 to 2025), fueling credential-based attacks.
According to Kaspersky Digital Footprint Intelligence (DFI), in 2025 over one million online banking accounts served by the world’s 100 largest banks fell victim to infostealers: credentials for these accounts were being freely shared on the dark web. The countries with the highest median number of compromised accounts per bank were India, Spain, and Brazil.
74% of payment cards that were compromised by infostealer malware, published on dark web resources and identified by Kaspersky DFI team in 2025, remained valid as of March 2026. This means that attackers could still use cards that had been stolen months or even years prior.
“The dark web has become a central hub for financial cybercrime. Stolen credentials and bank cards that have been harvested by infostealers are aggregated, repackaged, and sold there, while phishing kits targeted at users of financial products are offered as ready-to-use services.
This creates a self-sustaining ecosystem where data theft and fraud operations reinforce each other, making attacks scalable and easy to carry out by fraudsters with minimal experience. Breaking this cycle requires proactive threat intelligence on the part of organisations, and increased awareness and scrutiny from individual users,” comments Polina Tretyak, Kaspersky Digital Footprint Intelligence analyst.
E-Financial
First Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
First Securities Brokers, one of Nigeria’s leading stockbroking firms and a subsidiary of FirstHoldCo Plc, is pleased to announce the official launch of the FirstInvest App, an innovative mobile investment platform designed to make stock market investing simpler, faster, and more accessible for Nigerians.
The FirstInvest App offers investors a seamless digital experience, enabling them to open and manage their investment accounts, monitor their portfolios, and trade equities listed on the Nigerian Exchange (NGX) directly from their mobile devices.
Designed with both new and experienced investors in mind, the platform combines convenience, security, and ease of use to help users make informed investment decisions anytime and anywhere.
As Nigeria continues to embrace digital financial services, the FirstInvest App reinforces First Securities Brokers’ commitment to driving financial inclusion and expanding access to wealth creation opportunities through technology.
Speaking on the launch, Fiona Ahmed Ahimie, Managing Director of First Securities Brokers, said: “The launch of the FirstInvest App represents another significant milestone in our digital transformation journey and our commitment to delivering innovative investment solutions to our clients.
“We understand that today’s investors value convenience, speed, and accessibility. FirstInvest has been developed to provide exactly that: a secure and intuitive platform that empowers individuals to participate confidently in the capital market from wherever they are.”
She added: “Our goal is to remove the traditional barriers associated with investing by placing the power of timely investment and decision making in the stock market directly in the hands of Nigerians. Whether you are taking your first investment step, actively managing your portfolio or just evaluating your investment, FirstInvest provides the tools and flexibility needed to support your financial aspirations.”
The app delivers a range of features designed to enhance your investing experience, including: Secure digital account opening and onboarding, Real-time access to investment portfolios, Buy and sell Nigerian equities with ease, User-friendly trading interface, Secure transaction processing, Convenient access to market information and investment opportunities.
The launch of FirstInvest aligns with First Securities Brokers’ broader strategy of leveraging technology to improve customer experience while supporting the growth of retail participation in Nigeria’s capital market.
First Securities Brokers remains committed to providing trusted investment advisory services, innovative financial solutions, and exceptional customer service, helping clients build and preserve wealth across generations. The FirstInvest App is now available for download on the Google Play Store and the Apple App Store.
The next currency crisis could accelerate the shift of the roughly $315 billion global stablecoin market into a digital-dollar alternative for citizens in emerging economies, notably in regions like sub-Saharan Africa and Latin America.
As local fiat currencies face devaluation and high inflation, citizens and businesses are increasingly utilizing smartphone-based stablecoins (such as USDT and USDC) as hedges and primary mediums of exchange.
According to the International Monetary Fund (IMF), the rapid adoption of dollar-linked digital assets—particularly in countries heavily affected by inflation like Nigeria—poses significant risks to monetary sovereignty.
With up to 95% of surveyed individuals in some African markets preferring to receive payments in stablecoins over local fiat, the rising volume of these decentralized, cross-border channels weakens domestic currency demand and dilutes the effectiveness of local monetary policy.
IMF observed in a report titled “Stablecoins in Nigeria: A Growing Cross-Border Channel” noted that the widespread use of stablecoins poses risks to monetary sovereignty, particularly as more individuals and businesses turn to digital dollar-linked assets for savings and transactions.
Nodding in agreement is Future Investment Initiative Institute (FII Institute), a non-profit organisation run by the Public Investment Fund, Saudi Arabia’s main sovereign wealth fund.
FII Institute said that central banks face structural challenges.
And according to the institute, when citizens move savings out of national banks and into private digital wallets, conventional capital controls lose their grip.
Institutions like the Bank for International Settlements warn that interest-bearing stablecoins compete directly with domestic-currency deposits, complicating financial oversight and making smartphone-based transfers incredibly difficult for authorities to monitor.
In Nigeria, Naira depreciation has pushed users toward dollar-stablecoins, according to report by Gino Matos in cryptoslate.com.
A stablecoin is a type of cryptocurrency designed to maintain a steady value by pegging its price to a reserve asset, such as a fiat currency (e.g., the U.S. dollar) or a commodity (e.g., gold).
They act as a bridge between traditional money and the digital asset world, providing the speed of crypto without the extreme price swings of assets like Bitcoin.
Federal government has reopened three federal government of Nigeria (FGN) bond issues valued at N1.2 trillion for subscription as part of efforts to raise long-term funds from the domestic debt market.
The Debt Management Office (DMO), which announced the offer on Tuesday, said the three reopened bond issues are each valued at N400 billion.
According to the DMO, the first offer is the January 2035 FGN Bond, a 10-year reopening, carrying an interest rate of 22.60 per cent per annum.
The second is the May 2028 FGN Bond, a 15-year reopening, with a coupon rate of 15.45 per cent per annum, while the third is the June 2037 FGN Bond, a 20-year reopening, also valued at N400 billion.
The office said the bond auction is scheduled for July 20, while successful subscriptions will be settled on July 22.
It explained that the bonds are offered at N1,000 per unit, with a minimum subscription of N50 million and additional investments in multiples of N1,000.
For the reopened bonds, the DMO said successful bidders would pay a price based on the yield-to-maturity that clears the auction, in addition to any accrued interest on the instruments.
Interest on the bonds will be paid every six months, while the principal will be repaid in full on the respective maturity dates.
The DMO reaffirmed that FGN bonds are backed by the full faith and credit of the Federal Government and constitute obligations chargeable on the general assets of the federation.
It added that the bonds qualify as trustee investment securities under the Trustee Investment Act and enjoy tax exemptions for eligible investors, including pension funds, under the Company Income Tax Act and Personal Income Tax Act.
The bonds are listed on the Nigerian Exchange (NGX) and FMDQ Securities Exchange and also qualify as liquid assets for banks in computing their liquidity ratios.
FGN bonds are long-term debt instruments through which investors lend money to the Federal Government in exchange for periodic interest payments and repayment of the principal at maturity.
NBC Scraps Annual Digital Access Fee on DSO
Surge in Fibre Cuts Hobbles Service Provisioning
Why Bandits, Kidnappers are Hard to Trace despite NIN-SIM Linkage – FG
First Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
Quest Merchant Bank Hosts Great Place to Work® Nigeria Study Mission
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
Nigeria Launches FreeTV Nationwide
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
Telecom3 days agoMTN Nigeria Slashes Cost of Broadband Internet Router, Unwraps New Data Bundles for Low-Budget Users
E-Financial3 days agoNigerians Accumulate $59Bn in Cryptocurrency Assets —FDC
E-Financial3 days agoFlutterwave Partners Xoom on Transfers into Nigeria
General News3 days agoNearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
News3 days agoDataPro Upgrades Dangote Cement’s Credit Rating to AA+
E-Business3 days agoTinubu Orders NIMC to Enrol Every Nigerian by End of this Year – DG
Telecom3 days agoNokia’s 14 Years of Mobile-Phone Supremacy Ended in an Afternoon
E-Business2 days agoTD Africa Sponsors Check Point Secure 360 Summit to Boost Cybersecurity in Nigeria