E-Business
Visa Warns against Cyberattacks

Visa, a digital payment company has stated that online transactions, despite its benefits, comes with its attendant risks, which it said must be guarded against.

Aribidesi Lawal, risk manager, Visa West Africa, who highlighted the online risks, said: “Consumers have fully embraced digital payments in the COVID-19 era. In fact, a staggering 78 per cent of consumers have now completely adapted their payment methods due to safety concerns and 48 per cent will no longer shop at a store which doesn’t offer contactless payment. While this new consumer behavior presents enormous opportunity for digital-first retailers, these new behaviors are not without risks.”
According to Lawal, with consumer’s shift online, fraudsters have sought opportunities to exploit changes in how people pay for goods and services. Global businesses reported an average of 4,000 cyberattacks on average per day since COVID-19, representing a 400 per cent increase from what was reported pre-pandemic. In turn, we were seeing organisations adopting new security procedures to ensure transactions remain trusted and secure.
Addressing how COVID-19 presents fraudsters with new opportunities, Lawal said the new era of fraud was marked by more sophisticated attempts to trick people into sharing sensitive information.
“For example, across Central Europe, Middle East and Africa, we have seen an increase in social engineering attacks, including phishing, where fraudsters are exploiting the gaps which existed pre-pandemic and have intensified during the crisis. Phishing, specifically, has grown much more complex throughout the pandemic, and now includes a number of variants, such as spear phishing – attacks targeting a specific victim with personalised communication and vishing, which includes voice phishing scams, as well as spoofed websites.”
In the likelihood of implementation, Lawal said: “Friendly fraud is another type of attack on the rise, where individuals’ card and passcodes are used without permission by friends, family or other close associates.
“For merchants it can be a cost of doing business because it’s difficult to track, and most of time refunds are issued without investigating the matter further. Friendly fraud is said to reduce legitimate sales by 1 per cent and profits by 20 per cent.
He, however, said that despite this, the commerce ecosystem has recognised the challenges and responded well, taking a technology-led approach to address emerging threats.
While most businesses were already investing in technology-led security systems, the pandemic kicked this into overdrive, as businesses fought to better combat fraudsters and navigate the new, digital world. As businesses accelerated the use of secure technologies, including tokenisation, contactless and EMV ‘smart card’ chips, the secure nature and performance of digital transactions also improved.
Speaking about security in the post-COVID world, Lawal said with COVID-driven uncertainty set to remain in the near future, the next 12 to 18 months may bring even more disruption and transformation. “However, I believe that the dramatic shift we have seen towards digital payment will continue as consumers and merchants show increasing preference for eCommerce and contactless payments,” Lawal added.
As fraudsters become increasingly sophisticated in a digital world, organisations must innovate and invest in technology to, not only meet evolving demands, but to ensure the safety and security of digital transactions for customers. Investing in new, innovative ways of onboarding customers and new ways to pay, such as online, in-app, contactless, and IoT, will make or break a business in a post-COVID-19 world, Lawal further said.
E-Business
CBN Affirms Alpha Morgan Bank’s Capitalisation

The Central Bank of Nigeria (CBN) has affirmed the capitalisation of Alpha Morgan Bank, marking an important milestone in the bank’s growth journey and reinforcing its commitment to building a strong, resilient, and future-ready financial institution.

This affirmation reflects the bank’s adherence to regulatory requirements and its strategic focus on strengthening its capital base to support sustainable growth, innovation and improved service delivery to customers.
With this milestone, Alpha Morgan Bank is well positioned to continue expanding its footprint with its 14 approved branches across different states, while deepening inclusivity and enhancing the range of banking solutions available to individuals, businesses, and institutional clients nationwide.
Commenting on the development, the Managing Director of Alpha Morgan Bank, Mr. Ade Buraimo, expressed the readiness of the bank in ensuring compliance with regulatory requirement, good governance framework while delivering satisfying banking along the long-term vision of the bank to become the best bank to work and strong financial institution to reckon with.
He said: “Capitalisation is more than a regulatory requirement; it is an opportunity to strengthen the institution for the future. The affirmation of Alpha Morgan Bank capitalisation reflects the work we have done to build a solid capital foundation that allows us to support businesses more effectively, expand financial access and continue delivering the level of service our customers expect.’’
According to him, Alpha Morgan Bank remains committed to maintaining strong corporate governance standards, sound risk management practices, and prudent financial management as it continues to support economic development and create long-term value for stakeholders.
“As Alpha Morgan Bank enters the next phase of its journey, the institution will continue to scale its operation, invest in technology, expand its branch network and digital banking presence, whilst delivering reliable and satisfying banking experiences to its growing customer base,” Buraimo added.
E-Business
Police Says Victims Enable Cyber Attacks Out of Ignorance

Mr Uche Ifeanyi, commissioner of Police in charge of the Nigeria Police Force National Cyber Crime Centre (NPF-NCCC), said on Friday that most cyber attacks occur because victims act out of ignorance.

He spoke in Abuja at the opening of an online cybercrime awareness campaign themed “Odogwu No Dey Hide Him Face,” organised to educate and empower communities about online safety and cyber hygiene.
“Studies reveal that the majority of cyber attacks are initiated or enabled by victims due to lack of knowledge.
“Personal information is invaluable and must be protected at all times.
“Just as we maintain physical health, we must also maintain a healthy digital lifestyle,” he added, stressing that simple cyber hygiene practices could greatly reduce the risk of becoming a victim.
He urged the public not to disclose confidential information to unauthorised persons and to use strong, unique passwords, enable multi-factor authentication, and apply security safeguards on digital devices.
“Keep personal information private, avoid suspicious links, and regularly update software or system patches,” he said, adding that antivirus programmes and firewalls were essential for online safety.
Ifeanyi warned against falling for “free gifts” online.
“If it sounds too good to be true, it most likely is fraud,” he said, advising caution with urgent or suspicious messages.
He also urged internet users to verify information before sharing to avoid spreading fake news, emphasising that cybercriminals could exploit everyone regardless of age, occupation, or social class.
Vincent Olatunji, director-general, National Data Protection Commission (NDPC), commended NPF-NCCC for its efforts and said the campaign theme was commendable.
He noted the importance of educating people on legitimate wealth and safe internet use.
Olatunji said that the fight against cybercrime required collective effort, warning that the risks were increasing daily as more people connected to the internet across Nigeria.
E-Business
Firm Enhances its Security Awareness Platform with SCORM and PDF Support

Kaspersky has introduced an update to its Automated Security Awareness Platform, adding full support for PDF and SCORM (Sharable Content Object Reference Model) – the industry-standard protocol for deploying and managing e-learning content.

The enhancement enables organisations to build fully customised cybersecurity training programmes that reflect their infrastructure, risk profile, and internal policies, while continuing to benefit from Kaspersky’s expert-driven security content and phishing simulations.
According to the Kaspersky report titled “Redefining the Human Factor in Cybersecurity”, employees responding to phishing attacks was one of the main causes of cyber incidents in companies worldwide, accounting for 21% of cases among other reasons.
At the same time, additional Kaspersky research reveals that social engineering attacks are predicted to increase more than any other type in the nearest future, with 87% of respondents believing that social engineering attacks will become even more effective due to the use of AI tools.
The new Kaspersky Automated Security Awareness Platform (Kaspersky ASAP) update directly addresses several persistent challenges such as reducing the number of human-related incidents, cutting time spent on managing training programmes, decreasing regulatory and compliance risks, and minimising potential legal or reputational damage stemming from cybersecurity breaches.
With the new SCORM support, the platform becomes even more flexible: companies can now upload, track, and manage their own SCORM-based learning materials directly within the system. In addition, companies can accelerate their programmes by using easier-to-create PDF-formats.
This allows organisations to tailor training to their specific technology stacks and emerging threats targeting their industry or region. Businesses that have already invested in third-party SCORM courses or internal learning development can now seamlessly reuse their existing modules, protecting their prior investments while strengthening their cybersecurity posture.
The combination of Kaspersky’s embedded content built on real cases uncovered by the company’s world-class experts with customers’ PDF materials or SCORM modules enables a true best-of-breed approach to human risk management.
Organisations can supplement Kaspersky’s up-to-date cyberattack scenarios with internal policies, unique workflows, and industry-specific lessons, ensuring training resonates with employees and reflects real operational challenges.
“Human behaviour remains one of the most unpredictable elements in cybersecurity and also one of the easiest for attackers to exploit. By adding SCORM support to Kaspersky Automated Security Awareness Platform, we’re giving organisations the flexibility to build training programmes that truly match their internal realities.
“Combined with Kaspersky’s expert-driven content and real-world attack data, this update empowers companies to create more adaptive, relevant, and impactful awareness programmes than ever before,” comments Svetlana Kalashnikova, Security Awareness expert at Kaspersky.
Telecom1 day agoFirst Batch of Nigerian Undergraduates Emerged in Airtel Africa Foundation Scholarships Programme
Telecom1 day agoDimension Data Nigeria Seals N20bn Bond Deal to Bridge Digital Infrastructure Gap
E-Business1 day agoCBN Affirms Alpha Morgan Bank’s Capitalisation
E-Financial1 day agoPolaris Bank Marks IWD2026 with Renewed Pledge to Women’s Empowerment
General News1 day agoMojisola Sayo-Kazeem Reflects on Leadership, Opportunity, Women in Tech @ IWD
General News1 day agoExperts Weigh Blockchain Option for Nigeria’s Elections Process
News1 day agoEFCC Seals Anti-Corruption Alliance with Anambra Security Chiefs, Traditional Rulers
General News8 hours agoZedvance Hits ₦96bn Lending Milestone, Eyes ₦250bn Target in 2026


















