E-Business
Why & How We Engaged MasterCard in eID Card- NIMC
National Identity Management Commission (NIMC), has explained MasterCard’s involvement in the national identity registration programme, while refuting claims, in several quarters, of adequacies regarding the card’s payment components.
President Goodluck Jonathan had on August 28, 2014, heralded the official launch of the eID card pilot scheme.
As part of the pilot phase, NIMC has started to issue identify cards with MasterCard’s electronic payments functionality, which raised eyebrows among stakeholders in the IT and financial sectors of the economy.
Speaking in Lagos during a media roundtable, Chris Onyemenam, director general of NIMC, said that MasterCard was engaged to only provide the payments technology on the eID, in accordance with international standards.
He said, “MasterCard is providing the payments technology for 13million National eID Cards as part of the pilot programme. On completion of the pilot programme, NIMC will announce which payment partner will be brought on board, in addition to MasterCard, for the mass rollout of the National eID Cards”.
On how MasterCard was selected for the programme, the DG said, “MasterCard presented it’s payments solution and business proposal to NIMC for the National eID Card business together with other card schemes and companies. The three popular schemes, approved and licenced by the Central Bank to operate in Nigeria and with significant business relationship with the Nigerian deposit money banks, we’re invited to submit proposals to NIMC. The most responsive and willing vendors was MasterCard”.
NIMC announced its selection of MasterCard as the payments technology provider for the Nigerian National eID pilot programme in May 2013 at the World Economic Forum on Africa held in South Africa.
Explains why MasterCard was selected to the expense of Local companies, Onyemenam, said that, “Let’s get it very clear, all existing payment platforms have been licenced and approved to operate in the local market by the CBN, which ‘opened up’ the market as it were. Secondly, there is really no local company except if you are referring to the former locally-owned company in Nigeria, which also has significant foreign partners in the US.
“The reason why NIMC selected MasterCard is due to its deep experience with similar large-scale government programs around the world, its commitment to advancing financial inclusion in Nigeria and importantly, MasterCard’s ability to meet all the functional, technological and economic requirements of the project.
“MasterCard is also the world’s most-accepted payment brand, meaning that Nigerians can use their cards to pay at millions of MasterCard locations in Nigeria and across the border. MasterCard was also able to quickly develop a mutually-beneficial business roadmap that met all the requirements of the NIMC project plan and timelines. Others are just responding and will be considered accordingly”.
The NIMC DG refuted claims that MasterCard can access personal information and biometric data of the National eID cardholder, thus, “MasterCard’s prepaid technology is just one of the card’s 13 different applications, five of which are currently live. MasterCard payments technology is stored securely and separately from other applets, including the card’s identification applets. In fact, there is a firewall between the payment applets and all the other applets so not even a Point of Sale terminal or ATM can access the secured data that is protected on certain parts of the card.
Also speaking, Daniel Monehin, division president, Sub-Saharan Africa, MasterCard, explained that the Corporation is not involved in the identification component of the program and cannot access the national identification database, any citizen’s personal or biometric information.
He said, “MasterCard never collects personal information of cardholders. All payments account specific information is managed by MasterCard’s issuing financial institutions, they are the banks. All personal identification data including biometric and demographic information is collected, managed and secured by NIMC”.
Expatiating on the payments technology deployed by Mastercard under the program, Monehin said the eID card is a chip and pin card certified according to the EuroPay, Mastercard and Visa (EMV) standard for globally interoperable, secure payments, which is mandated by the Federal Government, and it is approved and licenced by the CBN.
The key element of the EMV involves dynamic digital data in every transaction.
“This makes these types of transactions extremely secure and reduces the risk of fraud. When a customer uses an EMV-enabled card to pay at an EMV terminal, it can be instantly identified as an authentic, approved payment instrument belonging to that consumer through a process called dynamic authentication. When used with a personal identification number (PIN), the chip verifies that the consumer is indeed holding his or her own payment card,” he said.
According to him, about 70% of adults in Nigeria who are financial excluded can be integrated into the system through the eID card program, while eliminating the need to carry large amount of cash, among other benefits.
E-Business
Cybercriminals Using “Joker: Folie à Deux” Release to Scam Fans
Kaspersky has uncovered cybercriminals exploiting the hype surrounding “Joker: Folie à Deux” ahead of its worldwide cinema premiere, for online phishing scams. Fans eager to watch the new movie online are at risk of being duped into giving away their sensitive data and money.
Kaspersky experts have identified phishing scams related to the new movie. The first example involves a fake offer to subscribe to watch the film for free.
On the fake website, users are asked to enter their credit card information to sign up, while the promised film is never accessible. The scammers gain access to the victim’s card details and can use them for fraudulent transactions or to sell on the dark web.
The second type of scam exploits the Joker movie brand to lure victims into fraudulent investment schemes, giveaways, or similar traps. Cybercriminals create phishing websites claiming to offer free access to the movie.
When users attempt to play the video, they are redirected to other pages – often promoting quick, easy money-making schemes, offering the chance to participate in a giveaway, or possibly other profits.
In the cases uncovered by Kaspersky, users are prompted to provide either personal information – so perpetrators can contact them with faux investment opportunities – or credit card details, for example, to pay for the delivery of the giveaway prize.
“As the premiere approaches, more people are looking for more ways to gain early access to the film and, as such, the risk of falling for such scams increases. We strongly recommend users carefully verify where they enter sensitive information and install reliable antivirus software that can warn against suspicious or malicious websites,” says Olga Svistunova, a security expert at Kaspersky.
To protect themselves from phishing-related risks, Joker movie fans should take precautions when navigating online content related to the premiere. Kaspersky experts recommend the following:
Be cautious. Beware of suspicious emails, messages, or websites offering exclusive deals or freebies. Always verify the source before sharing personal or financial information.
Safeguard personal data. Be mindful when providing sensitive information online, such as your address, phone number, or financial details, and only use secure platforms.
Verify website security. Ensure websites have secure connections by looking for “https://” in the URL and a padlock symbol in the address bar.
Use security solutions. Rely on trusted security solutions like award-winning Kaspersky Premium, that identifies malicious and phishing sites.
Trust reliable sources. Stick to official websites, authorised retailers, and reputable sources for any content to avoid scams.
E-Business
NDPC Extends Deadline for DCPMIS Registration, Warns Against Engaging Unregistered Data Processors
Dr. Vincent Olatunji, CEO/ National Commissioner of Nigeria Data Protection Commission has approved the extension of deadline for the registration of Data Controllers and Data Processors of Major Importance (DCPMIs).
The commission in a statement issued on Friday by Babatunde Bamigboye, Head, Legal, Enforcement & Regulations, said that the new deadline for registration without penalty is the 31st of October, 2024.
The statement reads, “In order to ensure accountability and in line with sections 24(3), 29(1)(a) and 44 of the Nigeria Data Protection Act, 2024 (NDP Act), DCPMIs shall only engage agents and contractors who are duly registered with the Commission (as at 15th October, 2024) for the processing of personal data”.
For ease of reference, section 29(1)(a) of the NDP Act provides: “Where a data controller engages the services of a data processor, or a data processor engages the services of another data processor, the data controller or data processor engaging another shall ensure that the engaged data processor —
(a) complies with the principles and obligations set out in this Act as applicable to the data controller;
“Furthermore, Section 65 of the NDP Act defines a data processor “as an individual, private entity, public authority, or any other body, who processes personal data on behalf of or at the direction of a data controller or another data processor.”
The Commission enjoins data controllers and data processors of major importance to immediately ensure that those who process personal data on their behalf fulfill the obligation to register as required by law. Engaging an agent or contractor who does not comply with the principles and obligations (set out in the NDP Act) that are applicable to the data controller is a contravention of the NDP Act.
E-Business
Kaspersky Reveals Half of Dark Web Exploit Listings Target Zero-day Vulnerabilities
Between January 2023 and September 2024, Kaspersky Digital Footprint Intelligence experts identified 547 listings to buy and sell exploits targeting software vulnerabilities.
These advertisements are posted on various dark web forums and shadow Telegram channels, with half involving zero-day and one-day vulnerabilities.
However, it is difficult to confirm whether these exploits are functional, as the dark market is rife with scams. Additionally, Kaspersky found that, on average, the cost of exploits for remote code execution vulnerabilities amounted to $100,000.
Exploits are tools used by cybercriminals to take advantage of vulnerabilities in various software programs, like those from Microsoft, to commit illegal activities, such as gaining unauthorised access or stealing data.
More than half of the dark web posts (51%) offered or sought to purchase exploits for zero-day or one-day vulnerabilities. Zero-day exploits target undiscovered vulnerabilities that software vendors have not identified and patched yet, while one-day exploits focus on systems that do not have the patch installed.
“Exploits can target any program, but the most desirable and expensive ones often focus on enterprise-level software. These tools enable cybercriminals to carry out attacks, which equate to substantial gains for them, such as stealing corporate information or spying on an organisation undetected.
However, some exploit offers on the dark web may be fake or incomplete, meaning they don’t function as advertised. Additionally, a significant portion of transactions are likely to occur in private.
These two factors complicate the assessment of the actual market volume for functional exploits,” explains Anna Pavlovskaya, Senior Analyst at Kaspersky Digital Footprint Intelligence.
The dark web market offers a wide array of different types of exploits. Two of the most widespread are those for RCE (Remote Code Execution) and LPE (Local Privilege Escalation) vulnerabilities.
According to an analysis of over 20 listings, the average price for RCE exploits is around $100,000, while LPE exploits typically cost about $60,000. RCE vulnerabilities are considered more dangerous, as they allow attackers to take control of a system or its components, or confidential data.
Dark web listings for buying and selling exploits, 2023-2024, where some offers can be repetitive. Source: Kaspersky Digital Footprint Intelligence
This year, the peak level in exploit sales and purchases occurred in May, with 50 relevant posts, compared to an average of about 26 per month in the period surrounding the surge. “Peaks in the exploit market’s activity are unpredictable and hard to link to specific events.
“Interestingly, in May, the dark web witnessed the sale of one of the most expensive exploits during the analysed period – allegedly, for a Microsoft Outlook zero-day vulnerability priced at nearly two million US dollars,” elaborates Anna Pavlovskaya.
“Overall, the exploit market remains stable; while activity fluctuates, the threat is always present. This highlights the need for cybersecurity hygiene practices, such as the regular patching and monitoring of digital assets on the dark web.”
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