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E-Business

SAS, Resourcery Proffer Fraud Prevention Solutions

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Tani Fafunwa. Managing Director, Resourcery Plc
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The changing trends and technologies in the fight against financial crime as well as Data Management and Governance framework were the key discussions during the breakfast session organized for technology executives of financial institutions by SAS Institute and Resourcery and Lagos recently.

At the well-attended event, Antionette Van Zyl, Senior Solution Manager for Data Management & Data Quality at SAS, gave a presentation on Data Management and Data Governance framework. Van Zyl, noted that Data Management has three major key drivers namely; Business and revenue optimization, Risk, governance and compliance as well as cost control.

Starting with the business and revenue optimization, she said quality management by financial institutions would adequately address customer acquisition, satisfaction and loyalty worries as well as enhance their revenue drive.

On cost control, she noted that modernized cost control process driven by I.T. efficiency would see an increase in productivity. All of these would be aided by Data governance, risk mitigation as well as adequate compliance.

Van Zyl was quoted stating “Better and faster business decisions depend on getting data in the right place by effectively moving data between systems. This must be done at the right time by supporting all data delivery latencies and architectures. This data must also be in the right form and should be available to the right people.”

“That is why SAS Institute in partnership with Resourcery here in Nigeria is determined to change the data management equation from 80% spent on problem solving preparation and only 20% spent on solving the problem to 20% spent on problem solving preparation and 80% spent on actually solving the problem. With SAS data management solutions, the Nigerian financial sector would see a significant reduction in fraud related case.”

Speaking on the changing trends and technologies in the fight against financial crimes, William Lawrence who is the Regional Practice lead for fraud and financial crimes at SAS Institute noted that it’s  common knowledge today that just one layer of protection is not enough to keep determined fraudsters out of enterprise systems.

This means it would take a multi-layer approach to be successful. The multi-layer approach is what SAS fraud management solution is offering to customers. 

He said: “with the deployment of SAS framework, organizations would see improvement in fraud detection efficiency and coverage. These would include previously undetected fraudulent networks and extinctions to already identified fraud. It would also reduce false positive rates which mean a significant improvement in “quality” of suspicious cases that would previously have not been investigated.”

“With an improved investigation efficiency of less than half the time it takes with link analysis visualization and an improved real-time ability process, which allows fraudulent transactions to be routed appropriately, the SAS anti-fraud framework clearly delivers financial benefits to business organizations.”


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

E-Business

NIMC Says NIN Services Back Online

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National Identity Management Commission (NIMC) has announced the restoration of its National Identification Number (NIN) verification services nationwide.

NIMC Says NIN Services Back Online

This, according to the commission, follows the completion of a system maintenance exercise.

In a statement issued on Friday, the NIMC confirmed that all previously disrupted services have resumed.

“NIMC wishes to inform the general public that the recent technical maintenance has been completed and all services have been restored,” the statement read.

The NIMC urged Nigerians seeking to enroll for NIN to visit the its official website to locate the nearest enrollment centers.

The agency also encouraged individuals to make use of its self-service portal for tasks such as data modification, including name changes.

To further ease the verification process, the Commission recommended downloading the NIMC NameAuth app (oath.app) from the Google Play Store or Apple App Store for quick and secure NIN authentication.

NIMC expressed appreciation for the public’s patience during the service disruption, which had impacted banks, telecom providers, and government agencies that rely on NIN verification for their operations.

 


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Report Reveals African Organizations Dangerously Overestimating Cyber defences

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Many businesses are overestimating their defence against cyber attacks, which creates a significant human risk blind spot. A new KnowBe4 report exposes a worrying disconnect between what leaders think about their cyber security readiness and what employees experience.

According to the KnowBe4 Africa Human Risk Management Report 2025, based on insights from cyber security decision-makers across 30 African countries, despite high awareness, a critical gap exists in turning that awareness into actual readiness and resilient behaviour.

Key findings from the KnowBe4 Africa Human Risk Management Report 2025:

Confidence vs awareness: While cyber security awareness is high, leaders express uncertainty about their workforce’s ability to act on that awareness. Many feel employees may overestimate their capabilities in recognising, reporting and mitigating threats.

The need for adaptive and personalised security awareness training: Many companies fail to personalise security awareness training to specific roles or risk exposures.

Widespread BYOD usage: A large percentage of employees (between 41% and 80%) use their personal devices for work.

AI policy development is lagging: Many companies (46%) are still in the process of developing policies for using AI tools in the workplace.

Regional variation: Southern Africa trains more, East Africa governs AI better and West/Central Africa sees the most human-related security incidents.

This gap is significant because Africa has become an attractive target to cyber criminals, especially those that launch AI-powered attacks. A LexisNexis Risk Solutions study found 60% of South African organisations have seen an increase in AI-facilitated financial crime – above the 56% global average.

Kehinde Popoola, regional manager and key representative for West and East Africa at Rubrik, said digital transformation is gaining momentum in Africa and companies are more exposed to cyber risk. The Rubrik executive adds that amid an increase in threats, it is crucial that organisations adopt an assumed breach mindset.

The KnowBe4 research shows that cyber security preparedness and the actual structures required to support secure behaviour seem misaligned.

The report highlights that just 10% of cyber security leaders are fully confident that staff would report a phishing attack or other cyber threat, despite rating employee security awareness of cyber threats at four out of five or higher.

There is also a significant perception gap between decision-makers and general employees in Africa regarding security awareness training, with 68% of leaders believing that training is tailored to roles, compared to only a third of employees feeling adequately trained.

KnowBe4 asserts that many organisations only conduct annual or biannual training that is too generic to effectively change behaviour, contributing to uncertainty about its effectiveness.

According to another report, the KnowBe4 African Cybersecurity and Awareness Report 2025, which focuses on end-user based responses, only 43% of African respondents felt confident in their ability to recognise a cyber threat, and just one in three believed their security awareness training was adequately tailored to their role. This comparison suggests the development of a dangerous perception gap in many organisations.

“There’s a disconnect here – between what leaders think is happening and what employees are actually experiencing,” says Anna Collard, SVP content strategy and evangelist at KnowBe4 Africa. “The data shows that without procedural and cultural follow-through, awareness simply doesn’t translate into readiness.”

“The continent’s cyber security posture may be more confident than it is truly resilient,” Collard adds.

 


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Domain of Deception as Attackers Deploy Spyware Under Guise of Legal Threats

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Kaspersky has detected a rapidly escalating malicious campaign that has targeted over 1,100 corporate users since June 2025. The attackers pose as a legal firm and in their emails threaten recipients with lawsuits over alleged domain name patent violations, aiming to deploy malware.

Victims who opened and launched the attached files – that mimicked legal documents – had a Trojan installed on their devices, and the attackers could spy on the content of their screens. Organisations across healthcare, finance, and education sectors have been targeted.

The campaign began with 95 emails on June 11 and has since continued to escalate. Apart from claiming that the recipient’s domain name violates patented combinations of a major brand and threatening litigation, in the email the fake legal bureau also expresses the patent holders’ interest in acquiring the domain and offers getting acquainted with the details of the alleged violations by opening the attached archive with “documents”.

It is worth noting that the attackers, likely to avoid detection, attach an archive that is not password protected, and inside it includes another archive that is password protected and a file containing the password along with it.

After the user entered the archive password and clicked on the alleged legal document inside, a Trojan was installed on the device. The user saw a message displayed that read, “This document cannot be opened on this device. Try opening it on another windows device,” and simultaneously the Tor Browser was covertly downloaded and installed in the background.

Through it, the malware regularly sent snapshots of the user’s screen to the attackers over the Tor network. The malware also autostarts whenever the computer is restarted.

“This campaign is a sophisticated blend of psychological manipulation and technical deception, leveraging fear of legal action to coerce businesses into executing harmful files hidden in attached archives. Its rapid growth since June 11 underscores the urgency for organisations to bolster defenses.

Victims face the risk of losing their private data. Robust email security, employee training, and swift incident reporting are essential to counter this evolving threat,” comments Anna Lazaricheva, spam analyst at Kaspersky.

 


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