Cyber Warfare – Increased Connectivity Leaves Businesses Open to Attacks
KEY POINTS
In today’s fully connected workplace, every device that connects to the network is a potential entry point for criminals.
Recent technologies have attracted rapid digital transformation across various industries with increased connectivity being among the top. This means that today, more than ever, information has never been more valuable and available.
But with increased connectivity comes myriads of security challenges. This was among the topics discussed by the July Africa Frontiers of Innovation.
The forum was hosted by Kenyas broadcast journalist Victoria Rubidari, and among the panelists were Confidence Staveley, award-winning founder of the Cybersafe Foundation, Nigeria; Catherine Muraga, Head of Engineering at Stanbic Kenya, and Quentyn Taylor, Director of Information Security at Canon for Europe, Middle East, and Africa.
The panelists noted with concern how data insecurity has become rampant with increasing digitization. In fact, according to a 2020 report, cybercrime costs the global economy USD 2.9 million every minute.
Banks and financial services are a popular target, but individuals, businesses of all sizes, and governments are also at risk.
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Increased connectivity – the Internet-of-Things – creates more entry points for attack. Remote and hybrid working, where people work from home and public spaces, means operating outside usual company structures and controls.
“The consequences of cybercrime and breaches can be devastating. We can’t over-emphasize the importance of data and information security; the connection between our virtual and physical lives is closer than ever,” said Staveley.
Everyone is at risk of getting hacked. With digitization, we are part of a global village. What happens in one region can affect people all over the world.
Types of Attacks
These types of threats range from malware, ransomware, and social engineering. According to an IBM report, 51 percent of attacks are attributed to malicious or criminal actions.
These vary from opportunists looking for an ‘open window’ to giant syndicates like Nigeria-based SilverTerrier, which has implemented more than 2.1 million attacks.
“It’s not one type of person,” said Taylor. “A few are motivated by the challenge. Most are doing it for the money and exploit any opportunity.”
“Criminals generally chose easy targets,” said Staveley. “In Africa, many businesses are not just low-hanging fruit; they are literally on the ground, without the most basic security measures in place.”
Staveley said manipulating people to divulge sensitive information, aka social engineering, is the top attack vector in Nigeria.
“Phishing, using email ‘bait’ to catch people, mobile vishing, and smishing via SMS are all used. COVID-19 brought a wave of attacks around relief efforts and vaccines. Opportunity scams take advantage of this instability and people’s desperation for jobs, scholarships, and new opportunities,” he added.
Being part of the Cloud brings a shared responsibility, and guarding data in the Cloud is up to both the provider and the customers. If SMEs and other businesses are not configuring the Cloud correctly, it can have massive implications for other users.
Challenges
Regulation is inconsistent across the continent. “I come from a financial services perspective which is strongly regulated, but many industries are not, from a compliance or regulation perspective,” said Muraga.
Staveley agreed regulations and compliance are at different levels of maturity across Africa. An African Union Commission survey found that only 8 of 55 African states surveyed had a national strategy on cybersecurity, and only 14 had personal data protection laws.
“There needs to be more accountability and openness. Most regulations in this part of Africa do not mandate to report a breach. This stops us from learning or making people more responsible. If we don’t step up, our global partners will demand it,” Staveley commented.
Businesses and countries that don’t comply may lose access to participating in the global economy.
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“In a global village, you are forced to comply with international regulations or be left behind,” said Muraga.