E-Business
Mobile Advertising Trojans Account for 16 of Top 20 Malware- Report
A latest report by Kaspersky Lab shows that mobile advertising Trojans exploiting super-user rights became the top mobile malware threat last year.
According to the report obtained by Nigeria CommunicationsWeek, 2016 saw a near-threefold rise in mobile malware detections compared to 2015 – with a total of 8.5 million malicious installations identified.
By implication, in the space of just one year, a volume equivalent to 50% of all the malware detected in the previous 11 years (15.77 million in 2004 – 2015) was released.
Leading the way were mobile advertising Trojans which now make up 16 of the top 20 malicious programmes, up from 12 in 2015.
These are the findings of Kaspersky Lab’s annual Mobile Virusology report, which also highlights the evolution of mobile banking Trojans.
Specialist officers from INTERPOL’s Global Complex for Innovation have contributed an analysis of mobile malware on the Dark Web to the report.
In 2016, Kaspersky Lab mobile security products reported that nearly 40 million attacks attempts by mobile malware, with over 4 million users of Android-based devices protected (vs 2.6 million in 2015); over 260,000 detections of installation packages for mobile ransomware Trojans (an increase of almost 8.5 times, year-on-year) and more than 153,000 unique users targeted by mobile ransomware (an increase of 1.6 times compared with 2015).
Also in the report, it was found that over 128,000 mobile banking Trojans detected (nearly 1.6 times more than in 2015).
The most widespread type of Trojan in 2016 was the advertising variety, accounting for 16 of the top 20 malware programmes, the report revealed.
These Trojans are capable of seizing rooting rights, allowing the malware to not only aggressively display ads on the infected device, often making it impossible to use, but also to secretly install other applications.
These Trojans can also buy apps on Google Play. In many cases, the Trojans were able to exploit previously patched vulnerabilities because the user had not installed the latest update.
Further, this malware simultaneously installs its modules in the system directory, which makes the treatment of the infected device very difficult.
Roman Unuchek, Senior Malware Analyst at Kaspersky Lab, who commented on the report confirmed that some advertising Trojans are even able to infect the recovery image, making it impossible to solve the problem by restoring the device to factory settings.
Representatives of this class of malicious software have been repeatedly found in the official Google Play app store, for example, masquerading as a guide for Pokemon GO.
Mobile Banking Trojan: A Skyrocketing Threat
In 2016, over 305,000 users in 164 countries were attacked by mobile banking Trojans, compared with over 56,000 users in 137 countries the previous year.
Russia, Australia and Ukraine are the top 3 countries affected in terms of the percentage of users attacked by mobile banking Trojans relative to all users hit by mobile malware.
Mobile banking Trojans continued to evolve through the year. Many of them gained tools to bypass the new Android security mechanisms and were able to continue stealing user information from the most recent versions of the OS.
At the same time, the developers of mobile banking Trojans repeatedly enhanced their creations with new capabilities. For instance, the Marcher family, in addition to implementing the usual banking applications’ overlay, redirected users from financial institutions’ websites to phishing pages.
The Dark Web Delusion
According to specialist officers from INTERPOL’s Global Complex for Innovation, who have also contributed to the report, the Dark Web remains an attractive medium for conducting illicit businesses and activities.
Given its robust anonymity, low prices and client-oriented strategy, the Dark Web provides a means for criminal actors to communicate and engage in commercial transactions, buying and selling various products and services, including mobile malware kits. Mobile malware is offered for sale as software packages (e.g. remote access Trojans – RATs), individual solutions and sophisticated tools, like those developed by professional firms or, on a smaller scale, as part of a ‘Bot as a Service’ model. Mobile malware is also a ‘subject of interest’ on vendor shops, forums and social media.
“In 2016, the growth in the number of advertising Trojans capable of exploiting super-user rights continued. Throughout the year, it was the top threat and we see no sign of this trend changing. Cybercriminals are taking advantage of the fact that most devices do not receive OS updates (or receive them late), and are thus vulnerable to old, well-known and readily available exploits. Moreover, we see that the mobile landscape is getting a little crowded for cybercriminals, and they are beginning to interact more with the world beyond smartphones. Perhaps in 2017 we will see major attacks on IoT components launched from mobile devices,” said Unuchek.
Mallam Kashifu Abdullahi, director-general, National Information Technology Development Agency (NITDA), has reaffirmed the importance of collaboration in advancing Nigeria’s digital transformation agenda.
L-R: Mallam Kashifu Abdullahi, director-general, National Information Technology Development Agency, with Brig. Gen., Abdulrahman Idris, team lead of the Senior Executive Course 46 2024, National Institute for Policy and Strategic Studies, Kuru, Jos during a strategic tour visit to the agency headquarters in Abuja.
Abdullahi disclosed this during a strategic engagement with participants of the 2024 Senior Executive Course 46 from the National Institute for Policy and Strategic Studies (NIPSS), a delegation led by Brigadier General Abdulrahman Idris.
Abdullahi emphasised that no organisation can achieve its goals in isolation, stressing the need for collaborative efforts to harness ideas, experiences and insights for national development. He highlighted the potential of collaboration between NITDA and NIPSS to leverage technology and digital innovation for driving economic growth, creating job opportunities and attracting foreign direct investment (FDI).
“At NITDA, we have re-imagined our social contract with Nigerians, focusing on improving service delivery and fostering the swift growth of the ICT sector,” said Abdullahi. He emphasised the agency’s commitment to serving Nigerians and outlined the strategic direction outlined in NITDA’s Strategic Roadmap and Action Plan (SRAP 2024-2027) 2.0. The SRAP is structured around eight pillars aimed at fostering digital literacy, building a robust technology research ecosystem, strengthening policy implementation, promoting inclusive access to digital infrastructure, enhancing cybersecurity, nurturing innovation and entrepreneurship, forging partnerships and cultivating a vibrant organisational culture.
The brigadier-general provided insights into NIPSS’s role as Nigeria’s foremost policy think-tank, tasked with developing top-class technocrats to drive national development initiatives. He highlighted NIPSS’s contributions to policy formulation and implementation over the years, emphasising the institution’s mandate to address issues of national interest, particularly in the digital economy sector.
The collaboration between NITDA and NIPSS underscores the importance of synergistic efforts in harnessing technology and innovation for national development. By leveraging each other’s expertise and resources, both organisations aim to drive economic growth, foster job creation, and position Nigeria as a leading player in the global digital economy.
Through strategic partnerships and collaborative initiatives, NITDA and NIPSS are poised to chart a path towards sustainable development, leveraging digital innovation as a catalyst for socioeconomic transformation and inclusive growth.
Ivorypay, a blockchain-based payment and remittance firm, has teamed with Tether, the stablecoin pioneer, to improve crypto-based transactions across Africa.
Tether is the business that developed the stablecoin, USDT, and with this agreement, it will mint and issue USDT straight to IvoryPay.
According to the partners, this agreement would provide more dependable and economical digital transaction choices to businesses and consumers across Africa.
Ivorypay will leverage Tether’s widespread acceptance to provide a buffer against the typically unpredictable nature of crypto-currencies, increasing user confidence in using digital currencies for daily transactions as well as cross-border transfers.
“Partnering with Tether is a strategic move that aligns perfectly with our vision of simplifying and securing crypto transactions across Africa,” said Oluwatobi Ajayi, CEO, IvoryPay.
He added: “It gives us easy access to the liquidity we need to cater to more businesses and individuals across the continent and to do that cheaper and faster than anybody else, which we believe will significantly enhance user trust and increase adoption rates across our platforms.”
“This strategic partnership between Ivorypay and Tether represents a transformative step for digital transactions across Africa,” said Aly Madhavji, managing partner of Blockchain Founders Fund.
“By incorporating USDT into their payment systems, IvoryPay aims to increase financial inclusion and streamline cross-border remittances, establishing a new standard for stability and efficiency in the region’s financial services We are thrilled to assist Ivorypay as they endeavour to create new opportunities for businesses and consumers across Africa.”
The Corporate Affairs Commission (CAC) has revoked the certificates of incorporation of NIPOST Properties and Development Company and NIPOST Transport and Logistics Services Limited.
This revocation followed the discovery of an illegal transfer of N10 billion in restructuring funds released by the Federal Ministry of Finance to the agency’s subsidiaries.
The CAC, in a statement on Monday, said, “The General Public is hereby informed that the Commission, sequel to its powers contained in Section 41 (7) of the Companies and Allied Matters Act No. 3 of 2020, revoked the Certificates of incorporation of the below-mentioned companies because the same was improperly procured. These companies are:
“1. NIPOST Transport and Logistics Services Company Ltd RC 1673881 and 2. NIPOST Properties & Development Company Ltd RC 1673971.
“By virtue of these revocations, the Companies are deemed to be dissolved and their Assets and Liabilities transferred to the Nigeria Postal Services established under the Nigerian Postal Services Act Cap N127 LFN 2004.”
It was gathered that CAC records confirm that as of November 8, 2023, some top officials of BPE control significant shares in the subsidiaries.
Responding to these discoveries, the Senate passed a resolution on December 30, 2023, for a probe into the matter.
The resolution declared the NIPOST subsidiaries in question “irregular and illegal” and recommended their immediate winding-up and deregistration.
The Senate resolution goes beyond immediate action; it demanded a thorough investigation into the N10 billion voted by the Ministry of Finance for NIPOST’s restructuring and recapitalisation.
Should evidence of “injudicious utilisation” surface, the Senate said the committee responsible must recover the full amount.
In its resolution of December 30, 2023, the Red Chamber said it uncovered an alleged illegal transfer of Federal Government shares in two NIPOST subsidiaries to private individuals.
The discovered infractions sparked outrage, prompting the lawmakers to call for immediate action.
Some individuals in key positions within the Bureau of Public Enterprises (BPE) and NIPOST were listed as shareholders of the two NIPOST subsidiaries.
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