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Nigerian Hackers Steal $3Bn Worldwide- Reports

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Nigerian hackers and cyber criminals are being accused of masterminding a grand theft of information and money running into billions of dollars, worldwide.

According to experts, the Nigerians are able to carry out the heist by sending phishing emails to commercial organizations and industrial enterprises, which they later steal dry.

The FBI estimates that these phishing attacks have cost companies over $3 billion.

The number of affected companies exceeds 22,143. Kaspersky Labs, an internet security company said it has found over 500 companies that are under attack in at least 50 countries.

Those under attack are mostly industrial enterprises and large transportation and logistics corporations, based in Germany, UAE, Russia and India.

In a blog post, Kaspersky said the cyber-criminals managed to steal technical drawings, floor plans and diagrams showing the structure of electrical and information networks.

Researchers said that all indications are that these were business email compromise (BEC) attacks that have come to be associated with Nigerian cyber-criminals. Emails received by victims looked authentic enough to fool people.

Some had attachments with names such as “Energy & Industrial Solutions W.L.L_pdf”, “Woodeck Specifications best Prices Quote.uue” and “Saudi Aramco Quotation Request for October 2016”.

These are well crafted emails that look legitimate and are crafted to make the victim open the malicious attachment.

The emails ask the recipients to check information as soon as possible, clarify product pricing or receive goods specified in the delivery note attached. The malicious attachments contain RTF files with an exploit for the CVE-2015-1641 vulnerability.

They may also contain archives of different formats containing malicious executable files or macros and OLE objects designed to download malicious executable files. Kaspersky discovered that the malicious files are intended to steal confidential data and install stealthy remote administration tools on infected systems.

Using Whois services, Kaspersky found that the domains used to host the malware were registered to residents of Nigeria.

Once in, the hackers compromise a legitimate email and change the banking account details. The malware used in these attacks belonged to families that are popular among cyber-criminals, such as ZeuS, Pony/FareIT, LokiBot, Luminosity RAT, NetWire RAT, HawkEye, ISR Stealer and iSpy keylogger.

”The phishers selected a toolset that included the functionality they needed, choosing from malware available on cyber-criminal forums. At the same time, the malware was packed using VB and .NET packers – a distinct feature of this campaign. To evade detection by security tools, the malicious files were regularly repacked using new modifications of the same packers,” said the researchers.

At least eight different Trojan-Spy and Backdoor families were used in the attacks. Further research found that the domain names of some of the malware command-and-control servers used by the attackers mimicked domain names used by industrial companies – “more proof that the attacks were primarily targeting industrial companies,” said researchers.

They added that most domains used for malware C&C servers were registered to residents of Nigeria. Researchers warned that it would be very dangerous if, because of an infection, cyber-criminals were able to gain access to computers that are part of an industrial control system (ICS).

“In such cases, they can gain remote access to the ICS and unauthorised control over industrial processes,” said researchers. Owen Connolly, vice president services (EMEA) at IOActive, told SC Media UK that this attack is not actually targeting industrial control systems or operational technology.

“It’s just targeting users that work for large companies. The fact that those companies may also have OT systems could just be coincidence, not correlation,” he said. Mark James, security specialist at ESET, told SC Media UK that scammers are opportunistic.

They understand they need to adapt and will change their tactics to get the best result. “With the 419 scams being so synonymous with the public, the scope for business users being victims is massive. We also need to consider the scope for larger, single successful attacks reaping the benefits much quicker than the smaller, and often much harder, sells through the public,” he said. Javvad Malik, security advocate at AlienVault, told SC that organisations dealing with industrial control systems may not be as savvy to scams as financial services, so it could be that the success rate of targeted emails is higher.

“Allowing criminals to make quick money. On the other hand, it could allow criminals to implant malware on industrial control systems, or at least on systems that support the ICS. This can then be allowed for further nefarious purposes such as deploying ransomware – or selling on the access to other criminals or ever nation states,” he said


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Kaspersky Discovers New Phishing Campaign Exploiting Google Tasks Notifications to Steal Corporate Credentials

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Kaspersky has uncovered a new phishing scheme that abuses legitimate Google Tasks notifications to trick corporate users into revealing corporate login credentials.

By leveraging Google’s trusted @google.com email domain and notification system, attackers bypass traditional email security filters and exploit users’ trust in familiar services.

In this campaign, victims receive an authentic-looking notification from Google Tasks with the subject line “You have a new task.” The message creates the illusion that the recipient’s company has adopted Google’s task management tool, pressuring them to act quickly. The notification often includes elements of urgency, such as a high-priority flag and a tight deadline, to prompt the victim’s immediate response.

Upon clicking the embedded link, users are directed to a fraudulent form disguised as an “employee verification” page, where they are asked to enter their corporate credentials under the pretense of confirming their status. These stolen credentials can then be used for unauthorised access to company systems, data theft, or further attacks.

“Google’s vast ecosystem of services gets exploited by scammers. The scheme with Google Tasks is part of a broader trend observed before and continuing into 2026, where cybercriminals misuse legitimate platforms to distribute scams and phishing.

Notifications originating from legitimate domains naturally evade many spam and phishing filters, while the social engineering aspect – making it seem like an internal company process – lowers the victim’s guard,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.

 


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esentry 2025 Report Shows Healthcare, Financial Services and Telecoms as Staging Grounds for Increased Cyberattacks in Africa

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Cyber adversaries targeting African organisations are increasingly shifting away from opportunistic attacks toward deliberate, sector-specific campaigns aimed at the continent’s most critical digital infrastructures, according to the esentry 2025 Annual Report released by esentry, Lagos-based Africa’s leading indigenous Managed Security Service Provider (MSSP).

The report identifies healthcare, financial services, and telecommunications as the primary staging grounds for high-velocity cyberattacks, reflecting a growing focus on sectors that underpin economic stability, public welfare, and digital connectivity across Africa.

The findings are drawn from one of the largest cybersecurity datasets analysed in the region. Over the course of 2025, esentry processed more than 31 billion security events, generating 3.5 million alerts and successfully blocking over 15,000 malicious attempts. This monitoring scale shows that, while traditional financial institutions remain a core target, the threat landscape has expanded to include digital lending platforms, healthcare systems that store sensitive personal data, and telecom operators responsible for national and regional connectivity.

Within the healthcare sector, the report highlights ransomware as the most acute risk, with attackers frequently exploiting exposed Remote Desktop Protocol (RDP) services to compromise patient data and disrupt essential medical operations. In financial services, organisations are facing a surge in credential abuse, insider-related threats, and info-stealer malware designed to enable fraud and unauthorised access. Telecommunications providers are increasingly targeted by highly tailored phishing campaigns and attacks on exposed web services, which aim to harvest credentials and compromise customer data.

Commenting on the findings, Gbolabo Awelewa, Chief Business Officer at esentry, said the nature of cyber threats across Africa has evolved significantly. “The threats we are seeing today are deliberate, informed, and carefully tailored to local enterprises. Attackers are exploiting trusted access and moving quietly within networks, which makes early detection critical. Our coordinated cybersecurity model, spanning Defence, Intelligence, Offence, and Security Engineering, allows us to combine scale, speed, and deep contextual insight to detect and neutralise threats before they escalate,” Awelewa said.

A defining trend identified in the report is the shift from overt system exploitation to the abuse of legitimate access. By leveraging compromised credentials and ‘living-off-the-land’ techniques, attackers can blend into routine enterprise operations and significantly delay detection. This approach has compressed the attack lifecycle, enabling adversaries to move from initial access to full operational impact in fewer than 15 days.

To counter this acceleration, the report emphasises the importance of early detection and automated response. esentry says it currently contains low-complexity incidents in under 90 seconds, using a combination of structured threat hunting and centralised telemetry to anticipate and absorb attacker pressure rather than reacting after damage has occurred.

As African organisations continue to digitise, the esentry 2025 Annual Report positions itself as a critical reference point for understanding the continent’s evolving cyber threat environment. The report concludes that protecting Africa’s digital trust will require a shift away from fragmented security tools toward disciplined, coordinated defence frameworks, what esentry describes as a unified Phalanx formation.


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AfDB, UNDP Launch $10Bn AI Initiative for Africa

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The African Development Bank Group (AfDB) and the United Nations Development Programme (UNDP) have launched an ambitious $10 billion project to support the adoption of Artificial Intelligence (AI) across the continent.

The 10 Billion Initiative intends to accelerate ethical AI adoption and inclusive digital economic growth in Africa.

The initiative follows the Nairobi AI Forum, which took place earlier this month in Kenya and brought together governments, private sector leaders, development partners, and tech innovators to define pathways for impactful AI adoption.

According to the organisations, the strategy is a co-designed collaboration between the Bank Group, UNDP, and commercial partners that aims to raise up to $10 billion by 2035.

The resources will be used to create up to 40 million new jobs across the continent by 2035, through targeted investments that provide the groundwork for AI and accelerate widespread adoption in everything from entrepreneurship and regional data infrastructure to policy frameworks and skill development.

Nicholas Williams, AfDB Group ICT operations division manager, commented: “As a leading multilateral development institution, the bank is leveraging its comparative advantage to ensure Africa is not left behind in the AI era.

“The AI 10 Billion Initiative paves the way for expanded partnerships and sustained investments that will accelerate AI entrepreneurship, strengthen data and infrastructure ecosystems, and support inclusive growth across the continent.”

 


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