MainOne, West Africa’s connectivity and data centre says it is joining forces with Radware, a global cyber-security provider, to offer services that let businesses counter cyberattacks.
[quote font=”georgia” font_size=”22″ font_style=”italic” align=”left” arrow=”yes”]MainOne and its partner, Radware, cite figures from the UK Centre for Strategic and International Studies in 2014 that estimate the annual cost of cybercrime to Nigeria at N127 billion annually or 0.08 per cent of GDP.[/quote]According to the companies, the solution specially designed to enable enterprises counter Distributed Denial of Service (DDoS), a vraiant of cyberattacks that cripple online services with massive traffic.
”This specialized DDoS attack solution is an always-on service that is easily deployed to help organizations assure the mitigation of DDoS attacks and service assurance of their networks and data centers as well as provide optimal protection to meet the unique needs of enterprise networks and applications”, the companies said in a joint statement to announce their partnership.
The companies say the new DDoS attack solution will address the issue of cyber-attacks which is estimated to have cost world businesses some $400 billion in 2015.
MainOne and its partner, Radware, cite figures from the UK Centre for Strategic and International Studies in 2014 that estimate the annual cost of cybercrime to Nigeria at N127 billion annually or 0.08 per cent of GDP.
“Organisations cannot afford to be complacent about their cyber-security and defenses as traditional methods of detection have been rendered obsolete”, the companies said
”The situation has alarmed governments to such levels that billions of dollars have been committed to ensuring cyber-security, and state security apparatus at the highest levels are addressing these issues.”
With the growing frequency and intensity of threats, the companies say the need to pro-actively address cyber-security threats has become critically important to most enterprises
”This looming threat has been decried by Nigeria’s leading security operatives, including the National Security Adviser, Babagana Munguno who lamented the cost of cyber-crime to government, economic activities, security and vital infrastructure.
”Advocates for improved e-security in the country have called on policy makers and government agencies to ensure that data is better protected with focus on the institutions in sensitive sectors including government, financial, oil and gas, and telecommunications”MainOne says noting that threats to financial institutions appear to be higher than others
According to a recent report from Websense Security Labs Nigerian banks lost over N165 billion via electronic fraud and cyber-crime and findings found that attacks against financial services institutions are four times higher than that of companies in other industries which is the highest of any sector.
“DDoS attackers attempt to overwhelm online financial services with malicious traffic from multiple sources, with the aim of making such services unavailable and these attacks continue to evolve with cyber-criminals targeting government and corporate systems with a frightening level of sophistication and frequency.”
MainOne says it will host an Enterprise Workshop with Radware in August for CEOs, CTOs and other IT decision makers, as part of its plans to launch the DDoS protection service.