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Insurers Worry over Cybercrime, Climate Change

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Risks associated with cybercrimes topped the list of peril incidences that may likely hit the corporate world in 2020 and beyond.

Insurers Worry over Cybercrime, Climate Change

But Nigerian insurance underwriters have said what they fear most this year is risk from climatic change especially flood risk and other natural disaster related risks.

Allianz global, disclosed this in its 2020 Risk Barometer publication.

The publication is an annual report that identifies top corporate risks for the next 12 months and beyond, based on the insight of more than 2,700 risk management experts from 102 countries and territories.

The report highlighted three major risks incidence that could befall corporate business and noted cybercrime incident as risk that have become more damaging and expensive for companies – and often result in lawsuits and litigation after the event.

It also stated that business interruption ranked second, but remains a key challenge with digitalisation and civil unrest creating new causes of disruption and loss of income

It further stated that said climate change rises to its highest-ever position, adding that companies are most concerned about physical losses from extreme weather events.

In terms of cybercrime, the report noted that it ranked top in the survey, for the first time after receiving 39 per cent of responses from more than 2,700 risk management experts in over 100 countries and territories.

“Seven years ago, cyber risk ranked only 15th with just six percent of responses. Awareness of the cyber threat has grown rapidly in recent years, driven by companies’ increasing reliance on their data and IT systems and a number of high-profile incidents.

“Businesses face a growing number of cyber challenges including larger and more expensive data breaches, an increase in ransom ware and business email compromise (spoofing) incidents, as well as the prospect of litigation after an event. “Political differences between nation states being played out in cyber space brings added risk complexity, while even a successful merger or acquisition (M&A) can result in systems problems,” the report stated.

While responding to what may likely be the top risks for 2020, the Chief Executive Officer of AGCS, Joachim Müller, was quoted in the report to have said: “The Allianz Risk Barometer 2020 highlights that cyber risk and climate change are two significant challenges that companies need to watch closely in the new decade.

“The risk of cyber incidents have become more damaging and expensive for companies and often result in lawsuits and litigation after the even

“In addition to being the top risk globally, cyber incidents are among the top three risks in many of the countries surveyed. In Austria, Belgium, France, India, South Africa, South Korea, Spain, Sweden, Switzerland, the UK and the US it also ranks as the top business risk.”

“Businesses face the challenge of larger and more expensive data breaches, an increase in ransomware and spoofing incidents, as well as the prospect of privacy-driven fines or litigation after any event.

“A mega data breach, involving more than one million compromised records now costs on average $42 million, up eight per cent per cent year-on-year.

“Incidents are becoming more damaging, increasingly targeting large companies with sophisticated attacks and hefty extortion demands. Five years ago, a typical ransomware demand would have been in the tens of thousands of dollars. Now they can be in the millions,”  Marek Stanislawski, deputy global head of Cyber, AGCS, said

He said extortion demands were just one part of the picture, adding that companies could suffer major losses due to the unavailability of critical data, systems or technology, either through a technical glitch or cyber-attack.

He attributed many of the incidents to human error, but said it coul be mitigated by staff awareness training which are not yet a routine practice across companies.

 


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Kaspersky Gives Advice on How to Make AI for Children Safer @ Safer Internet Day

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Born between 2010 and 2025, Gen Alpha aren’t just growing up with technology – they’re actively living it. These digital natives are already wielding smartphones, tablets, and AI-powered tools with the confidence of seasoned users, navigating everything from gaming and social media to online learning platforms with remarkable ease.

 

But the question that concerns parents and security experts is whether we are giving our children too powerful technology, too soon. On Safer Internet Day, Kaspersky security experts are sharing practical tips to help parents turn AI from a potential threat into a trusted ally for the younger generation.

 

The first line of defence is building AI awareness

Children have already discovered that ChatGPT, DeepSeek and other neural networks can answer questions faster than you can find the right answer in Google, and Alexa can play music without pressing a single button.

 

So, the only solution is to become children’s AI support. Begin by explaining that these digital assistants aren’t friends, pets, or even real people. They’re sophisticated tools that can be helpful, but also potentially misleading, biased, or simply wrong. Then teach them to cross-check information with multiple sources, just like they’d verify facts in a school project.

 

When discussing AI with children, emphasise that they should never fully trust AI answers, especially for sensitive topics like health, mental wellbeing, or safety concerns. Always encourage them to verify information and never share personal details or documents with AI systems.

 

Enabling safety filters 

Most AI platforms and smart devices come with built-in safety features that are often overlooked or misunderstood. Spend some time checking the privacy settings and content filters and, if possible, tailor them to match your family’s values and your child’s maturity level. This is a basic protection against inappropriate content, privacy breaches, and potentially harmful interactions.

 

However, not all services and platforms provide an opportunity to set up content filters and fully control children’s online activity. To create a safer digital environment for your children consider using parental control tools like Kaspersky Safe Kids. It allows parents to not only hide inappropriate content and prevent specific apps and websites from being opened but also helps balance children’s time spent online with screen time management. 

 

Checking the AI-powered apps authenticity 

In a world where AI apps are popping up faster than you can say “chatbot,” verifying app authenticity is essential. Only download apps from official stores and inform your children about the importance of not installing anything from unfamiliar sources. Look up the company behind the app and check whether they have a website and legitimate business presence.  Teach your kids to limit their app’s permissions and do not give access to data unless it’s necessary for the apps to work. 

 

Staying involved and informed 

A basic understanding of the range of problems your child is willing to entrust to AI is already significant. By asking simple questions like “What did you ask AI today? Did it give you the right answer?” you’ll be teaching your children to openly discuss with you the use of AI and problems they might face. When they mention using ChatGPT for homework, ask them to show you what they’ve learned. When they talk about their favourite voice assistant, ask about the topics they like to discuss and funny particularities they noted.

 

“When you actively participate in your child’s AI journey, you transform from a concerned parent into a trusted guide. They’ll seek your input because they know you’re interested in their digital experiences, not just trying to control them. But while allowing children some AI freedom, you must always remain vigilant about their online safety and healthy growth,” comments Andrey Sidenko, Cyber Literacy Projects Lead at Kaspersky. 


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PwC Reveals AI Scaling Gap Slows Africa’s Digital Transformation

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African CEOs continue to trail their global counterparts in deploying artificial intelligence (AI) across business functions, as they remain stuck in experimental AI phases, finding it difficult to scale initiatives into enterprise-wide deployments.

This is one of the key findings of PwC’s 29th Global CEO Survey: Africa perspective. It found that more than 150 CEOs in Africa who participated in the survey demonstrate strong operational resilience and reinvention as they navigate currency fluctuations, political uncertainty, infrastructure constraints and supply chain disruptions.

It highlights a slower pace of digital transformation that could limit long-term competitiveness in Africa. While awareness and early adoption of AI are growing, enterprise-wide deployment remains limited, according to the survey.

The survey was conducted from 30 September to 10 November 2025 and surveyed 4 454 CEOs across 95 countries, including Africa.

Skills shortages, fragmented data governance, underdeveloped cloud infrastructure and risk-averse investment strategies are preventing African organisations from moving beyond pilot projects into full-scale AI-driven transformation, it finds.

“AI adoption in Africa is real, but scaling it across the enterprise remains a challenge,” says Christiaan Nel, AI Africa leader at PwC South Africa. “Caution must be balanced with urgency − those investing modestly today risk falling behind competitors scaling rapidly.”

 Finding their way

Despite these challenges, African CEOs demonstrate strong operational resilience. The survey shows that 81% are optimistic about improving economic conditions, well above the global average of 65%, while 47% are confident about revenue growth over the next year.

The survey underscores that AI adoption highlights a broader reinvention gap. Only 41% of CEOs have clear AI roadmaps, and 37% formalised responsible AI processes. Skills availability remains a major barrier, with just 37% confident in sourcing and retaining talent for AI initiatives.

PwC research shows that when AI is implemented effectively, African companies experience tangible benefits: 56% report increased employee productivity, 53% gain executive time, 23% see revenue growth, and 25% achieve cost reductions. This confirms that AI can drive efficiency and transformation, but only if infrastructure, governance and investment keep pace, notes the study.

Vikas Sharma, Africa cyber leader at PwC Mauritius, explains: “The challenge is structural. Fragmented cloud environments, unclear data governance and underdeveloped cyber security make scaling AI difficult. Without these foundations, AI initiatives remain tactical rather than transformational.”

Beyond AI, CEOs are using technology to reinvent products, reach new customers and modernise operations. PwC highlights that cloud, analytics and digital frameworks are essential enablers for enterprise-wide AI, helping leaders move from experimentation to transformation.

Importantly, African organisations are using technology to augment rather than replace employees, maintaining workforce stability while improving productivity, it states.

Ambition versus execution

Although 55% of African CEOs consider innovation critical to strategy, only 13% are willing to take high risks in innovation projects.

Underlying capabilities reveal the challenge: just 16% operate dedicated innovation centres, 25% have processes to stop underperforming research and development, and 29% rapidly test ideas with customers.

Lullu Krugel, chief economist and ESG leader at PwC South Africa, adds: “The leaders who build enduring businesses protect their core while creating the future. Operational strength alone is not enough; transformation must be bolder.”

Investment restraint is evident: 59% of respondents report little to no change in IT spending, and only 8% are willing to make large investments despite geopolitical uncertainty. Confidence in acquisitions is lower than the global average, with 40% planning growth through acquisition, compared to 46% globally.

Yet diversification offers a competitive-edge. Nearly half of African CEOs have entered new sectors through services and product offerings in the past five years, generating 24% of revenue from these ventures. Technology leads planned expansion efforts at 17%, followed by real estate, retail and transport/logistics.

PwC concludes that Africa’s CEOs have the ambition and resilience but must move from operational excellence to strategic reinvention. This requires embracing risk as a catalyst for transformation, strengthening digital infrastructure, investing in change leadership and aligning AI adoption with enterprise-wide strategy.

Hannelie Gilmour, consulting and transformation platform leader at PwC South Africa, concludes: “Africa is uniquely positioned to leapfrog global peers. Tomorrow’s stability comes from today’s innovation. CEOs who act decisively will shape the continent’s next chapter.”

 


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Firm Reviews the Evolution of Phishing Threats in 2025

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A new Kaspersky review reveals how cybercriminals revived and refined phishing techniques to target individuals and businesses in 2025, including calendar-based attacks, voice message deceptions and sophisticated multi-factor authentication (MFA) bypass schemes.

The findings emphasise the critical need for user vigilance, employee training and advanced email protection solutions to counter these persistent threats moving forward.

Calendar-based phishing targets office workers

A tactic originally from the late 2010s, calendar-based phishing, has reemerged with a focus on B2B environments. Attackers send emails with calendar event invitations, often containing no body text, hiding malicious links in the event description.

When opened, the event auto-adds to the user’s calendar, with reminders urging them to click links leading to fake login pages, such as those mimicking Microsoft.

Previously aimed at Google Calendar users in mass campaigns, this method now targets office employees. Organisations should conduct regular phishing awareness training, such as simulated attack workshops, to teach employees to verify unexpected calendar invites.

Voice message phishing with CAPTCHA evasion

Phishers are deploying minimalist emails posing as voice message notifications, containing sparse text and a link to a basic landing page. Clicking the link triggers a chain of CAPTCHA verifications to bypass security bots, ultimately directing users to a fraudulent Google login page that validates email addresses and captures credentials.

This multi-layered deception highlights the need for employee training programmes, such as interactive modules on recognising suspicious links and advanced email server protection solutions like Kaspersky SecureMail, which detect and block such covert tactics.

MFA bypass via fake cloud service logins

These sophisticated phishing campaigns are targeting multi-factor authentication (MFA) by mimicking services like pCloud (a cloud storage provider that offers encrypted file storage, sharing and backup services).

These emails, disguised as neutral support follow-ups, lead to fake login pages on lookalike domains (e.g., pcloud.online). The pages interact with the real pCloud service via API, validating emails and prompting for OTP codes and passwords, granting attackers account access upon successful login.

To counter this, organisations should implement mandatory cybersecurity training and deploy email security solutions like Kaspersky Security for Mail Servers, which flags fraudulent domains and API-driven attacks.

“With phishing schemes growing more deceptive, Kaspersky urges users to treat unusual email attachments, like password-protected PDFs or QR codes, with caution and verify website URLs before entering any credentials.

“Organisations should adopt comprehensive training programmes, which includes real-world simulations and best practices for spotting phishing attempts. Additionally, deploying robust email server protection solutions ensures real-time detection and blocking of advanced phishing tactics,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.

 


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