Tech

Report: AI manipulation to increase cybercrime in Nigeria

Published

4 months ago

January 23, 2024

An increase in cyber security threats has been predicted for 2024, according to the Cyber Security Experts Association of Nigeria.

The group warned that as artificial intelligence was used more often for malevolent intent, citizens should anticipate an increase in insider threats.

The digital landscape in Africa is changing quickly, but there are more cyberthreats because of inadequate safeguards in place, a weak legal framework for information security, and a public that is not adequately informed on the issues.

AI, according to reports, is the capacity of a digital computer or a robot under computer control to carry out tasks that are typically performed by intelligent individuals through computer-enhanced observation, learning, and reasoning. In addition, the group predicted in its National Cyber Threat Forecast report that job and benefit scams—which have been common in 2023—would have rise, mostly through digital platforms.

It linked the nation’s difficult economic circumstances, which it said would lead more people to look for cash possibilities online, to the predicted rise in these scams.

The report also stated that more impersonation scams using fictitious websites and social media profiles that use the names and images of well-known people to trick the public are expected to continue, contributing to an increase in the severity and frequency of web defacement incidents that affect a wide range of industries.

The report partly read, “In 2024, Nigeria is poised to continue facing the challenge of impersonation scams. These scams involve creating fake websites and social media profiles, using the names and images of well-known figures to deceive the public. Public awareness campaigns and educating people on reporting such scams are crucial to combating impersonation scams.

Social media platforms and websites must enforce stricter verification processes for profiles claiming organisational or individual identities. The high incidence of attacks on academic institutions highlights the urgent need for all sectors, especially education, to reassess and bolster their cybersecurity measures.

“Nigeria can be expected to witness a surge in employment and benefit scams, a trend that has been prevalent in 2023. These scams often lure victims with promises of financial inducements and part-time job offers, primarily disseminated through various digital platforms.

“Attackers will leverage the capabilities of AI to enhance the efficiency and effectiveness of their cyber-criminal activities. This will manifest in more personalised phishing attacks, personalised malware, automated large-scale attacks, and sophisticated social engineering attacks.

These forecasts point to a continued surge in misinformation, ransomware attacks, attacks against vulnerable government’s online assets, crypto scams, benefit and employment scams, information and credential theft, AI-enabled threats, impersonation scams, insider threats, cyber hacktivism, and web defacement.”

According to a study by ptsecurity, countries in Africa lost 10% of their GDP on average due to their inadequate readiness to combat cyberattacks.

Ransomware continues to be one of the biggest hazards in the area. A primary delivery vector is the combination of servers, network equipment, and PCs (74%).

Related Topics:AI manipulation Cybersecurity Featured

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Tech

Latin America’s biggest payment processor PayRetailers expands into Africa

Published

20 hours ago

May 15, 2024

Akanimoh Etim

Latin America’s biggest payment processor, PayRetailers, has announced its expansion into Africa with coverage across four countries, Rwanda, Zambia, Uganda, and Tanzania.

A statement by its Chief Operating & Digital Officer, Lorenzo Pellegrino, said by expanding into Africa will offer customers a unified payment solution that will be a game changer for cross-border online merchants looking at Africa as their next move for strategic growth.

He said to strengthen its presence in the continent, PayRetailers is activating its payment processing functions that will “offer a simple, user-friendly, and scalable experience to businesses looking to grow their regional operations and give them access to major local methods like SPENN, Airtel, and MTN.”

“This market is increasingly connected and mobile and destined for strong growth, which is why PayRetailers, in its mission to increase financial inclusion and continue supporting business growth in emerging markets, has decided to activate its networks in the region and drive this exciting era of prosperity,” Pellegrino said.

“As a part of our strategic expansion, we are extending our coverage to four markets in Africa, at least to start with. Over the coming months, we plan to steadily expand our operation in the continent, which is experiencing incredible growth in the payments industry and has massive potential for merchants looking to diversify and broaden their consumer base.

“Using the stellar and continuous growth we have experienced in LATAM as our guide, we are well-poised to help businesses thrive faster and more sustainably.

“We recognize the immense potential and significance of venturing into these dynamic markets.

“Each new addition to our market coverage is a gateway into untapped opportunities and strengthened partnerships, ensuring our sustained growth and global relevance.

“Our imminent expansion into additional countries across West, North, and Southern Africa underscores our commitment to empowering our clients and connecting them with diverse consumer bases across the continent.

“From May onward, businesses will be able to operate in the region using PayRetailers for their online users, representing a major milestone for its client portfolio and its innovation strategy for 2024,” the statement said.

Tech

Nigeria: Govt approves SPV for 90,000km fibre optic cable

Published

1 day ago

May 15, 2024

Ifeoluwa Dada

To facilitate the delivery of an additional 90,000 kilometres of fiber optic cable for universal internet access throughout Nigeria, the Federal Government has approved a special-purpose vehicle.

An SPV is a distinct legal entity established for a particular purpose or undertaking. In this case, the SPV will oversee the execution, budget, and day-to-day operations of the fiber optics project.

In a statement released on Tuesday, Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, said that the project will maximize the utilization of eight underwater cables that have already touched down in Nigeria and boost the country’s internet access infrastructure.

According to him, the project is anticipated to boost Nigeria’s fibre optic cable capacity from 35,000 km to 125,000 km, placing it third in length among terrestrial fibre optic backbones in Africa, after Egypt and South Africa.

Tijani stated that for the past few months, the ministry had started laying the foundation for the SPV, which would be modelled after some of the best public-private partnership setups in Nigeria, like NIBSS and NLNG, in terms of administration and operations.

The minister explained, “This extensive coverage will enable us to optimise the unique benefit of having eight submarine cables already landed in Nigeria and, therefore, drive uptake of the data capacity that the cables offer beyond the current usage level of 10 per cent.

“Building on our existing work with the Broadband Alliance, this increased connectivity will help plug the current non-consumption gap by connecting over 200,000 educational, healthcare and social institutions across Nigeria, ensuring that a larger section of our society can be included in the benefits of internet connectivity.”

Approximately 71% of Nigerians do not regularly have access to mobile internet, according to a research released last week by the Groupe Special Mobile Association.

With the correct policies in place, Nigeria may gain 15 million Internet users by 2028. It was also stated that without universal access to digital connection, a more comprehensive digital transformation of the Nigerian economy would not be feasible.

The report stated, “While 29 per cent of Nigerians are regularly using mobile internet, there remains untapped potential; 71 per cent are not accessing these services regularly.

“An improved policy environment has the potential to help the industry boost coverage and adoption, resulting in 15 million additional internet users by 2028. However, the sector faces challenges to infrastructure deployment”.