Telecom
Ransomware Persisted Despite Improved Detection in 2022 – IBM Report
IBM Security released its annualX-Force Threat Intelligence Index finding that although ransomware’s share of incidents in the Middle East and Africa (MEA) held steady at 18%, globally defenders were more successful detecting and preventing ransomware.
Despite this, attackers continued to innovate, with the report showing that globally the average time to complete a ransomware attack dropped from two months down to less than 4 days.
According to the 2023 report, the deployment of backdoors, which allow remote access to systems, emerged as the top action by attackers in the MEA region last year. Backdoor deployments were detected in 27% of the cases X-Force responded to in this region in 2022. Ransomware and worms tied for the second-most common attack type in the region at 18% each. The uptick in backdoor deployments can be partially attributed to their high market value. X-Force observed threat actors selling existing backdoor access for as much as $10,000, compare this to stolen credit card data, which sells for less than $10 per card today.
As organizations across the MEA region try to address the ever-evolving cyber threats landscape, Frida Kleimert Knibbs, Security Leader at IBM MEA, stressed the critical role of threat intelligence in safeguarding against these threats. She commented: “Proactively managing security risks and evolving cybercrime tactics is a critical priority for organizations across MEA. The X-Force Threat Intelligence Index findings demonstrate the continued threat of ransomware and the increasing use of thread hijacking tactics.”
She added: “To safeguard against these threats, it’s imperative that companies remain vigilant and focus on effective incident response planning. As the security landscape evolves, it is crucial to prioritize threat intelligence and strengthen defenses”.
The IBM Security X-Force Threat Intelligence Index tracks new and existing trends and attack patterns – pulling from billions of datapoints from network and endpoint devices, incident response engagements and other sources.
Some of the key findings in the 2023 report include:
- Extortion: Threat Actors Go-to Method. The most common impact from cyberattacks in 2022 was extortion, which was primarily achieved through ransomware or business email compromise attacks. Extortion and financial loss each accounted for half of identified impacts in incidents across the MEA region in 2021. Manufacturing was the most extorted industry globally in 2022, and it was again the most attacked industry for the second consecutive year. Manufacturing organizations are an attractive target for extortion, given the extremely low tolerance for down time.
- Cybercriminals Weaponize Email Conversations. Thread hijacking saw a significant rise in 2022, with attackers using compromised email accounts to reply within ongoing conversations posing as the original participant. X-Force observed the rate of monthly attempts increase by 100% globally compared to 2021 data. Over the year, X-Force found that attackers used this tactic to deliver Emotet, Qakbot, and IcedID, malicious software that often results in ransomware infections.
- Legacy Exploits Still Doing the Job. The proportion of known exploits relative to vulnerabilities declined 10 percentage points globally from 2018 to 2022, due to the fact that the number of vulnerabilities hit another all-time high. The findings indicate that legacy exploits enabled older malware infections such as WannaCry and Conficker to continue to exist and spread.
- Phishers “Give Up” on Credit Card Data. The number of cybercriminals targeting credit card information in phishing kits dropped 52% globally in one year, indicating that attackers are prioritizing personally identifiable information such as names, emails, and home addresses, which can be sold for a higher price on the dark web or used to conduct further operations.
- Finance and Insurance Remain Prime Targets for Cyberattacks in MEA: In the Middle East and Africa, Finance and insurance was the most-targeted industry in 2022, accounting for 44% of incidents and down slightly from 2021 at 48%. Professional, business and consumer services accounted for 22% of attacks, with manufacturing and energy tying for third place at 11%.
The report features data IBM collected globally in 2022 to deliver insightful information about the global threat landscape and inform the security community about the threats most relevant to their organizations. You can download a copy of the 2023 IBM Security X-Force Threat Intelligence Report here.
Additional sources
- Read more about the report’s top findings in this IBM Security Intelligence blog.
- Sign up for the 2023 IBM Security X-Force Threat Intelligence Index webinar on Thursday, March 2, 2022, at 11:00 a.m. ET here
- Schedule a consult with IBM Security X-Force
Nigeria’s telecom sector is at risk of shutdown as workers under the aegis of Private Telecommunications and Communications Senior Staff Association (PTECSSAN) have embarked on strike over sack, and poor working conditions among others.
Gbenga Adebayo, chairman, ALTON
This was as the union on Monday threatened to cripple telecommunications services nationwide.
Okonu Abdullahi, secretary-general, made this known in a statement on Monday while announcing the commencement of the strike.
Gbenga Adebayo, chairman, Association of Licensed Telecom Operators of Nigeria (ALTON), reacting to the development, said that the group is unknown to its members which include MTN, Globacom, Airtel, 9-mobile and other telcos in the country.
But Abdullahi, said that the action of his union “ has become inevitable because of the prevalent precarious working conditions our members are enduring in the sector, the refusal of the employers to recognise and respect the constitutional right of these workers to freely associate with the union, and the unjust sack of three members of the union,”
He noted that its members are over 800 working at various Nigeria telecoms company facilities, network centers and other critical telecommunications, including IHS and Huawei.
The union, among other things, is demanding the reinstatement of some of its sacked workers, recognition of the union, improved working conditions, and remittance of membership dues.
“The implications of the strike will be massive because we have told all our members not to respond to any service outage from our employers.
“The fact remains that there are outages every day, and if our engineers do not respond to those outages, subscribers in those areas will be affected,” he said.
However, Adebayo of ALTON, said that “This group is not known to us in ALTON, and the companies mentioned are not members of ALTON”,
Nigerian Communications Commission (NCC) has announced the introduction of a Device Management System (DMS) aimed at bolstering security and protecting consumers in the country’s mobile device market.
It said the DMS will serve as a comprehensive Central Equipment Identity Register, creating a unified database for tracking and monitoring mobile devices across all network operators in Nigeria.
The new regulation, outlined in the ‘Type Approval Business Rule 2024’, aims to prevent phone theft, curb the use of counterfeit devices, and ensure compliance with established standards.
All mobile network operators are required to connect to the DMS and mirror network-related policies configured by the NCC, ensuring a uniform approach to device regulation.
This move is expected to significantly improve the security and integrity of Nigeria’s communication networks, protecting consumers and promoting a safer mobile ecosystem.
“NCC-DMS shall acquire the International Mobile Equipment Identity of all devices latching to the communication network and synchronize with international databases of IMEI repositories.
“NCC-DMS shall maintain a registry of all communication devices available in the Federal Republic of Nigeria,” the commission noted in the new rule.
A device registration fee was also introduced by the NCC for the NCC-DMS, separate from existing type approval fees. This fee will be mandatory for all registered devices.
The commission’s objective, first announced in 2021, is to enhance transparency, accountability, and national security in the telecommunications sector while ensuring the safe and efficient utilization of Nigeria’s communication infrastructure.
“To curtail the counterfeit mobile phone market, discourage mobile phone theft, enhance national security, protect consumer interest, increase revenue generation for the government, and reduce the rate of kidnapping.
“To mitigate the use of stolen phones for crime, and facilitate blocking or tracing of stolen mobile phones and other smart devices, one of the means to achieve this is through the deployment of Device Management System,” the commission said in a statement.
Workers in the nation’s telecommunications industry under the aegis of the Private Telecommunications and Communications Senior Staff Association (PTECSSAN) will today (Monday) begin an indefinite nationwide strike over sack, and poor working conditions among others.
Among the employees going on strike include field maintenance engineers, transmission engineers, customer service engineers, fibre engineers, and other critical staff.
There are fears that strike could disrupt telecommunications services nationwide if not resolved quickly.
PTECSSAN had given notice of the strike in a statement signed by Mr Okonu Abdullahi, its general secretary.
Abdullahi said the strike had become necessary following alleged anti-labour practices including the refusal of the employers to recognise and respect the workers’ constitutional rights to freely associate with the union.
He alleged also that three members of the union were unjustly sacked. He said: “We shall not be suspending the planned indefinite strike action until our demands, which are as follows, are met:
“Immediate reinstatement of the three unjustly sacked workers: Sotola Sunday Kolawole, Ulu Ikechukwu Christopher and Alex Franklin C.”
“Immediate recognition of the fundamental right of the employees to freely associate with the union, “ he said.
According to the general secretary, other demands include immediate recognition of the union as the negotiating body for the employees on workers welfare.
He said also that the union was demanding the immediate remittance of membership dues into its account as earlier provided among others.
“We hope that these companies will utilise the seven-day window of this notice to meet our demands and avert the indefinite strike action,” Abdullahi said
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