Telecom
Telecoms, eCommerce among 7 Industries Vulnerable to Cyber Threats
Sophisticated persistent threats have befallen major 21st Century organizations that depend on digital technology to thrive.
Georgia Tech Information Security Center (GTISC), Emerging Cyber Threats Report 2015 notes that cybercriminals continue to successfully abuse the trust of users, while the Internet of Things poses problems for the current systems of trust between machines.
While, Kaspersky Lab Report 2014 released in February 2015 shows that financial phishing attacks, including phishing against banks, payment systems and e-shops accounted for 28.73% of all phishing attacks detected during the year under review.
Thus, today’s C-suite must deploy a cyber-defense that is secure, vigilant, and resilient, according to a report released by Deloitte Touche Tohmatsu Limited (Deloitte Global) recently.
In the report, seven industries including online media, high technology, telecommunications, e-commerce, insurance, manufacturing, and retail, were identified as the most vulnerable to the ‘spanners on the wheels’ of cyber traitors.
The report, Global Cyber Executive Briefing, finds that virtually all organizations will be attacked so C-level executives need to better understand their biggest threats and which assets, typically those at the heart of their business’s mission, are at the greatest risk.
In the study, Deloitte outlined potential for attacks, reasons and possible scenarios, and potential impact to business.
Speaking on the study, Ted DeZabala, Cyber Risk Services Leader, Deloitte Global, said, “People think cyber-attacks are confined to specific sectors. In reality though, any organization that has valuable data is at risk”.
According to the report, being secure starts with tackling weaknesses in applications and reinforcing the digital infrastructure.
Organizations that are vigilant should subsequently be alert and identify any attacks as early as possible.
Being resilient involves early-stage identification of the direction of a threat, the reason for such threat and how it will manifest itself.
Rapidly detecting an attack can spur an organization into action so it isolates and removes the threat.
Deloitte in the report highlighted threats by sector thus, high Tech: Consistently a target for attacks with the biggest threats being loss of intellectual property (IP) and hacktivism. Threats are also used as a stepping stone to attack and infect others.
Online Media: Has the greatest exposure to cyber-threats with ones that cause reputational damage topping the list. Threats are also used as a stepping stone to attack and infect others.
Telecommunications: Facing increased, sophisticated attacks, including by Government agencies using Advanced Persistent Threats (APT) to establish covert surveillance for long periods of time. Another critical threat unique to the telecommunications sector is the attack of leased infrastructure equipment, such as home routers from Internet Service Providers (ISPs).
eCommerce: Database breach (i.e. loss of customer data, including names, physical addresses, phone) and online payment systems are vulnerable areas often attacked.
Denial-of-service attacks also top the list, particularly by hacktivists that want to disrupt an organization in a highly visible way.
Insurance: The sector typically has a lot of sensitive data to protect. Cyber-attacks are growing exponentially as insurance companies migrate toward digital channels with sophisticated attacks combing advanced malware with other techniques such as social engineering. While current attacks appear short-term, the report predicts the number of long-term attacks may be silently growing.
Manufacturing: Increasing in the amount of attacks by hackers and cyber-criminals as well as through corporate espionage. Types of cyber-attacks in manufacturing vary widely from Phishing to Advanced Malware, targeting not only IT but also connected Industrial Control Systems.
Retail: Credit card data is the new currency for hackers and criminals. Insider threats in retail are is increasing, giving rise to a new breed of criminals that focus on stealing information — especially the valuable cardholder data that flows between consumers and retailers.
DeZabala also warned that “Not a single sector is immune to this. Knowing the value of your data, the value of that data over time, knowing the potential attacker, their resources and motivation, are some of the first steps in making business decisions about adequate protection.”
In a recent revelation from the Nigerian Communications Commission (NCC), Airtel Nigeria has emerged as a standout performer in the country’s telecommunications sector, marking significant gains in market share over the past year.
According to the NCC data, by the end of March 2024, Airtel Nigeria has grown its market share over the last year into a remarkable 29%, solidifying its position as a leading telecom provider in the region.
In stark contrast, other mobile network operators such as MTN and 9mobile have faced considerable setbacks, with MTN witnessing a notable 3.19% decline in market share and 9mobile experiencing a 0.5% decrease.
Even Glo, a prominent player in the market, saw a decline, albeit less pronounced, with a 0.58% drop in its share of internet subscribers.
Airtel Nigeria’s success story goes beyond market share gains. The company has also witnessed a substantial surge in its share of internet subscribers, boasting an impressive 165% basis points increase.
This surge correlates with the launch of Airtel 5G, which the company began rolling out in June 2023 and underscores the telco’s continued push to grow its customer base nationwide.
Airtel Nigeria’s ascendancy in the telecom market comes at a pivotal moment when mobile network operators face challenges of rising operations cost and exchange rates volatility. The company’s recent results solidify its position as a frontrunner in Nigeria’s telecom landscape.
Google Developer Groups Lagos (GDGLagos) has announced a regional edition of the global #BuildWithAI hackathon, in partnership with SeerBit, Africa’s most trusted payment solutions provider and GOMYCODE.
This hackathon, taking place on Saturday, April 27th and Wednesday, May 1st, 2024, will empower participants to explore Google’s AI tools, Gemini and Vertex AI and develop innovative solutions for real-world challenges.
“We are excited to partner with Seerbit and GoMyCode to bring the #BuildWithAI hackathon to Lagos,” says Co-Organizer, GDGLagos, Femi Taiwo. “This event fosters innovation and empowers individuals to use AI to solve real-world problems. We encourage everyone interested in AI to join us for this inspiring event.”
Founder & CEO of SeerBit, Omoniyi Kolade articulated the profound impact of this collaboration, stating, “At SeerBit, we are committed to pioneering innovative solutions that enhance financial security and foster trust in digital transactions. Collaborating with GDG Lagos amplifies our quest to combat fraud effectively. Together, we aim to empower developers to harness the power of technology for the greater good, ultimately benefiting society as a whole.”
“At GOMYCODE, we are committed to unlocking the potential of innovators across Nigeria and beyond through accessible technology education. The ‘Build With AI’ hackathon with Google Developer Groups Lagos offers a hands-on chance for innovators to use AI for real-world solutions. We’re excited to create a space where technology meets creativity, empowering participants to actively shape the future,” Country Head, GOMYCODE Nigeria, Babatunde Olaifa said.
The #BuildWithAI hackathon aligns with Google’s global initiative to democratize access to AI technology. This regional event in Lagos offers a unique opportunity for developers, data scientists, designers, students, and anyone curious about AI to:
- Gain hands-on experience with Google’s cutting-edge AI tools, Gemini and Vertex AI.
- Tackle real-world challenges across various sectors like sustainability, finance, education, healthcare, and social good.
- Leverage SeerBit’s expertise in digital payments to create solutions with tangible applications.
- Develop in-demand skills with the support of GoMyCode’s training resources.
- Collaborate in teams and network with fellow AI enthusiasts.
- Compete for a chance to win a cash prize of NGN 1,000,000, office space to further develop their winning solution, and the opportunity to partner with SeerBit, with NGN 500,000 and NGN 250,000 for second and third place respectively.
The GDGLagos #BuildWithAI hackathon serves as a springboard for the global Google AI Hackathon, taking place online. This international event focuses on pushing the boundaries of what Generative AI apps can do with Gemini. Participants in the Lagos event are highly encouraged to consider entering the global competition as well.
GDGLagos will provide ongoing support and guidance to the regional winner as they prepare to compete on the global stage. This includes access to mentorship, resources and technical expertise to help them refine their solution and showcase their talent to a worldwide audience.
Startup founders, experienced developers, data scientists and expert resources and designated mentors will be available during the hackathon to provide guidance, refine ideas, answer questions and offer technical support to participants. This ensures they receive the necessary guidance to tackle the challenges and bring their innovative ideas to life.
Telecommunications service provider, Airtel Nigeria has collaborated with the Nigeria Institute of Public Relations (NIPR) to provide with unlimited internet access at the institute’s inaugural edition of the Nigeria Public Relations Week.
The trailblazing event themed ‘Leveraging Public Relations as a Critical Asset for Nigeria’s Economic and Reputation Renaissance’ is set to run from Monday, April 22nd to Friday, April 26th, 2024, and will welcome thousands of delegates across Nigeria to the prestigious June 12 Cultural Centre, nestled in the heart of Abeokuta, the Ogun State capital.
Speaking on the strategic collaboration, Femi Adeniran, Director, Corporate Communications and CSR, Airtel Nigeria, expressed enthusiasm about the partnership, stating, “Airtel is proud to support the Nigeria Institute of Public Relations in its endeavor to advance the field of public relations.
“The relevance of public relations practice in Nigeria cannot be overstated, as it plays a vital role in shaping perceptions, managing reputations, and influencing public opinion. Hence, our support is a demonstration of our commitment to empowering individuals and organizations with innovative solutions that drive progress and create an enabling society.”
According to NIPR, through the PRWeek Organizing \Committee Chairman, Mr Yomi Badejo Okusanya, the NPRW will gather over 2,000 experts in the fields of economics, PR, and nation-building to discuss strategies for effectively communicating government policies and initiatives to the public.
Other activities at the NPRW will include conferences, the annual general meeting, workshops, induction of new members, breakout sessions with students as well as traditional rulers and a tour of some legacy projects in Ogun state.
With Airtel’s provision of onsite unlimited data connection, attendees and participants can enjoy unparalleled access to online resources, real-time updates, and interactive engagements throughout the duration of the event. This will significantly support the exchange of ideas, foster networking opportunities, and elevate the overall experience for all stakeholders involved.
Airtel Nigeria remains committed to offering unwavering support for initiatives aimed at driving innovation, collaboration, and nation-building.
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
CBN Licenses Unified Payments as Second Provider for PTSA Services for Nigeria
FG to Fnalise National Intellectual Property Policy Soon– NCC Boss
NITDA, ICF Train 100 Schoolgirls in ICT Skills
See Full List of Fake Loan Apps Blacklisted By CBN
CBN Sacks another 50 Staff, 117 Disengaged in 20 Days
New CAMON Device Set to Redefine Mobile Content Creation
AfDB, AGF Partner on Female Entrepreneurs’ Access to Finance
Detained Binance executive drags EFCC, NSA to court
News3 days ago60 Hearty Cheers to Chioma Ekeh, Africa’s Leading Unusual Female Tech
Telecom3 days agoQualcomm Shortlists Startups for Qualcomm Make in Africa 2024 and Awards 2023 Wireless Reach Social Impact Fund
Telecom3 days agoALTON, ATCON Urge FG to Address Telecoms Industry Challenges
News3 days ago9mobile Partners Microsoft to Host Impactful Training Session for Journalists
News3 days agoAcademic Technologists Propose N350,000 Minimum Wage
Telecom2 days agoWorld Earth Day: Kuda Partners with Wecyclers to Clean up Communities in Lagos
Telecom2 days agoAirtel Boosts NIPR Public Relations Week with Onsite Unlimited Data Connection
E-Financial3 days agoConfusion as CBN Deletes, Reinstates Tweet Calling Crypto-Related Directive Fake