OPINION

  • All
  • Opinion
will-ai-replace-software-developers

Will AI replace software developers?

byTechnology Times Contributor
16/03/2023
0
101

financial-success-how-traders-can-step-up-games

How small businesses, traders can up their game for financial success

byTechnology Times Contributor
24/02/2023
0
105

why-change-management-matters-in-workplace

Why change management matters in evolving workspaces

byTechnology Times Contributor
24/02/2023
0
106

business-cybersecurity-strategy

Why humans should lead your business cybersecurity strategy

byTechnology Times Contributor
22/02/2023
0
123

chinenyen-mba-uzoukwu-convocation-lecture

Finding the Boundaries of the Possible, Venturing Beyond | UNILAG Convovocation Lecture by Chinenye Mba-Uzoukwu

byTechnology Times Contributor
21/02/2023
0
125

how-to-spot-online-romance-scams

From dating to defrauding: Online romance scams surge as criminals cash in on lonely hearts

byTechnology Times Contributor
08/02/2023
0
111

malware-cybercrime-trends-2023-emmanuel-asika

Rise of ₦7,000 malware kits and cybercrime trends coming our way in 2023

byTechnology Times Contributor
02/02/2023
0
118

cloud-security-whose-fault-is-it

Cloud Security: Whose fault is it? 

byTechnology Times Contributor
31/01/2023
0
112

ryan-mer-on-fraud-trends-2023

‘It’s easier to hack people than to hack machines’ and other frauds trends every CFO should know 

byTechnology Times Contributor
31/01/2023
0
111

kaspersky-chatgpt-will-influence-cybersecurity

Kaspersky: How ChatGPT will influence cybersecurity

byTechnology Times Contributor
25/01/2023
0
116

technology-bolster-africas-growth-moses-muthui

How technology can bolster Africa’s growth and competitiveness

byTechnology Times Contributor
25/10/2022
0
113

cloud-services-bring-automation-to-printing

Cloud services can bring the benefits of automation to every print business

byTechnology Times Contributor
12/10/2022
0
132

Load More
  • Home
  • BIG STORY
  • Digital Transformation Series
  • ARTICLE SECTIONS
    • Tech News
    • Consumer Tech
    • Opinion
    • Interviews
    • Tech Market Updates
    • Promoted
Friday, March 24, 2023
No Result
View All Result
  • Login
Technology Times
Technology Times
No Result
View All Result
Home Opinion

Rise of ₦7,000 malware kits and cybercrime trends coming our way in 2023

Technology Times ContributorbyTechnology Times Contributor
02/02/2023
in Opinion
Reading Time: 5 mins read
2 0
A A
0
malware-cybercrime-trends-2023-emmanuel-asika

Emmanuel Asika, Country Head for Nigeria, at HP.

ADVERTISEMENT
Share on FacebookShare on TwitterShare on LinkedinShare on WhatsAppShare on Telegram

With lessons learnt from 2022, Emmanuel Asika, Country Head for Nigeria, at HP reviews the evolving threat landscape and top cybercrime trends to watch out for in 2023:

The cyber threat landscape continued to evolve last year, with malevolent players joining forces more than ever before, exchanging access to networks and systems, sharing malware and sharpening their attack methods. Such heightened collaboration, coupled with the low cost of malware – three-quarters of malware kits cost less than ₦7,000 – are further triggering cybercrime to be more accessible. The implication being that more devices and end-users will be vulnerable to being under attack in 2023, and as cyber criminals intensify attempts to access enterprises – these systems, PCs and printers will be at the forefront. 

These challenges, for cyber-security experts, will be intensified by the growing economic slump and uncertainties. As cybersecurity spending is set to increase by 13.2% in 2023, cost projections will be under critical observation, with emphasis on the most important cybersecurity demands.  

With tough impending decisions, below are four cybersecurity trends that institutions must plan for in 2023:  

Related Articles

Will AI replace software developers?

How small businesses, traders can up their game for financial success

Why change management matters in evolving workspaces

Why humans should lead your business cybersecurity strategy

Finding the Boundaries of the Possible, Venturing Beyond | UNILAG Convovocation Lecture by Chinenye Mba-Uzoukwu

Load More

Increasing costs can prompt an inflow of cyber hustlers and money mules, powering the cybercrime economy and leaving users at risk 

The increase in the cybercrime gig economy, with its swing to platform-based business models, has made cybercrime simpler, affordable, and more dynamic. Cybercrime devices and mentoring services are readily available at low costs, luring cyber hustlers –  adherents with little technical skill – to access needed information to make gains. With an impending global downturn, easy access to cybercrime tools and skills could enhance the number of scam SMS messages and emails filling our inboxes. Lured by the potential of quick money, there is a likelihood of seeing more recruits into money-muling schemes, unintentionally encouraging the cybercrime ecosystem as enablers of fraudulent transactions, money laundering, and perhaps ransoms payments. 

The interrelated nature of the cybercrime gig economy means that threat actors can easily make money from email compromise attacks. If they find a victim and succeed by compromising an enterprise device, they can market that access to bigger ransomware gangs. This gives structured groups of hackers more reach, hence feeding into the cybercrime ecosystem.  

Lured by the potential of quick money, there is a likelihood of seeing more recruits into money-muling schemes, unintentionally encouraging the cybercrime ecosystem as enablers of fraudulent transactions, money laundering, and perhaps ransoms payments.

Emmanuel Asika, Country Head for Nigeria, at HP.

With increasing attacks against users, embedding security in all devices from the hardware will be significant to prevent, detect and recover from attacks. Adopting a robust security culture is key for building resilience, however, only when combined with technology that decreases an organization’s attack interface. A whole group of threats can be eradicated without relying on detection by isolating risky activities like malicious emails. Threat containment technologies in this case ensure that if a user opens a malicious link or attachment, the malware can’t infect any data. With this model, businesses reduce the propensity of malicious attacks and protect employee interests without compromising their workflows. 

Notorious hackers will invest in more attacks below the operating system

Until recently, firmware attacks were only used by sophisticated threat groups and countries. However, just last year, early signs revealed an increased interest and development of attacks below the operating system – from tools to hack BIOS passwords, to rootkits and trojans targeting device’s firmware. Today, we now see firmware rootkits advertised relatively cheaply on cybercrime marketplaces. 

As one would expect, sophisticated threat actors are always looking to stay one step ahead in terms of their attack capabilities. Unfortunately, firmware security is frequently disregarded by organizations, giving room for adversaries to attack and exploit. Access to the firmware level allows attackers to gain persistent control and hide below the operating system, making them very hard to detect – let alone remove and remediate. 

As such, organizations and individuals must ensure they understand industry best practices and standards for device hardware and firmware security. Additionally, organizations must further endeavour to understand and evaluate the latest technology readily available to protect, detect and recover from firmware attacks. 

Remote access equipment will be on the forefront for attacks  

Session hijacking is anticipated. The year will witness a growth in popularity – where an attacker hijacks a remote access session to obtain an organisation’s sensitive data and systems. The user is characteristically unsuspecting that anything malicious has happened and takes milliseconds to inject key sequences and issue commands that generate an alternative gateway for persistent access. It works even if Privileged Access Management (PAM) systems employ Multi-Factor Authentication (MFA), such as smart cards.   

When a malicious attack links to Operational Technology (OT) and Industrial Control Systems (ICS) running factories and industrial plants, there could also be a noticeable impact on operational readiness and safety – possibly cutting off access to energy or communication for entire areas. The only way of preventing these kinds of attacks is breaking the attack chain and strong isolation technology, either through using a physically separate system, like a Privileged Access Workstation (PAW), or virtual separation, via hypervisor-based approaches. 

Neglect print security at your risk in 2023 

Presently, print security is endangered by the constant tendency to be a neglected factor of the total cybersecurity environment and with more printers connected to corporate networks due to hybrid working, the risks keep increasing. Institutions need to structure security policies and processes for monitoring and protecting print gadgets from attacks, at home and in the workplace.  

The challenge is the risk telemetry coming from end points, including printers, is growing by the day. Consequently, we will see institutions concentrate investments on solutions and services delivery that provide functional intelligence rather than merely delivering more security data. 

Tackling increasing threats 

This year, organisations must be intentional with their security approaches. Often, security glitches start at the endpoint, hence, by embedding protection in these devices, businesses can lessen the burden on their security unit. 

Regardless of the threats institutions face in 2023, it is apparent that the tactics we deploy to protect devices and data has to change. The key consideration here is strategic resource allocation, and the security teams need to recognise the specific areas of the business that are most susceptible to threats, and that would be most impacted in the event of a breach. It is also vital to have a layered approach to security which will allow institutions to execute isolation, gain actionable intelligence, isolation and more, whilst helping to lessen their attack surface and maintain safety of key data. 

About author: Emmanuel Asika is Country Head for Nigeria at HP.

Share21Tweet13Share4SendShare

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
ADVERTISEMENT
Technology Times Contributor

Technology Times Contributor

Related Articles

will-ai-replace-software-developers
Opinion

Will AI replace software developers?

byTechnology Times Contributor
16/03/2023
0
101

Since its launch in November last year, the artificial intelligence (AI)...

Read more

How small businesses, traders can up their game for financial success

Why change management matters in evolving workspaces

Why humans should lead your business cybersecurity strategy

Finding the Boundaries of the Possible, Venturing Beyond | UNILAG Convovocation Lecture by Chinenye Mba-Uzoukwu

From dating to defrauding: Online romance scams surge as criminals cash in on lonely hearts

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

5 + 13 =

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

LATEST ARTICLES

5g-airtel-makes-5g-growth-drivers-league

5G: Airtel makes league to drive market growth to $792.7b

23/03/2023
identity-and-access-management-market

Identity and Access Management market to reach $53.1b by 2032

23/03/2023
aws-fintech-africa-accelerator-opens

AWS FinTech Africa Accelerator opens, targets African talents

23/03/2023
nigeria-cyber-attacks-peak-during-guber-polls

Minister: Cyber attacks crossed 3.8m during Guber polls

22/03/2023
ixpn-lowers-bandwidth-cost-nigeria

NCC: IXPN now drives higher bandwidth at lower cost in Nigeria

22/03/2023
ADVERTISEMENT
ADVERTISEMENT

Popular News

  • inec-suffered-cyber-attack-nigeria-computer-society

    Presidential Election 2023: INEC server suffered cyber attack, was not robust, Nigeria Computer Society says

    101 shares
    Share 40 Tweet 25
  • PC: How to spot symptoms of CPU failure

    134 shares
    Share 54 Tweet 34
  • Elon Musk bows to NCC order to charge Starlink Nigeria subscribers in Naira

    86 shares
    Share 34 Tweet 22
  • Nigeria General Election 2023: Buhari sets up cybersecurity team as 622 hotline goes live

    61 shares
    Share 24 Tweet 15
  • NCC: Nigeria lost 9m phone lines over Minister’s SIM registration order 

    59 shares
    Share 24 Tweet 15

Recommended

  • Tech News
nigeria-cyber-attacks-peak-during-guber-polls

Minister: Cyber attacks crossed 3.8m during Guber polls

22/03/2023
106
ixpn-lowers-bandwidth-cost-nigeria

NCC: IXPN now drives higher bandwidth at lower cost in Nigeria

22/03/2023
103
harmonised-short-codes-nigeria

Harmonised Short Codes: Mobile operators get May 17 deadline

22/03/2023
101
mba-uzoukwu-inec-sowed-tech-distrust-nigeria

Mba-Uzoukwu: With 2023 General Election, INEC sowed seeds of technology distrust in Nigerians  

20/03/2023
110
nigeria-hit-by-cyber-threats-election-day

Minister: Nigeria hit by 6,997,277 cyber threats on Presidential election day

15/03/2023
107
starlink-nigeria-under-mtn-nigeria-watch-ceo

Starlink: MTN Nigeria places new ‘competitor’ under close watch, CEO says  

14/03/2023
106
Load More
ADVERTISEMENT
Facebook Twitter Youtube LinkedIn RSS

ABOUT TECHNOLOGY TIMES

Technology Times

Nigeria Technology Media Group

Founded in 2004, Technology Times’ trusted technology news, market intelligence, views and business services reach readers and partners across Nigeria, Africa and beyond.

Contct Us

LEGAL & COMPLIANCE

Home

Privacy Policy

Terms & Conditions

Disclaimer

Guest Post Guidelines

 

TOP ARTICLES

  • oswald-guobadia-on-nigerian-startup-act-2022

    Guobadia, President’s Digital Transformation SSA, says new Nigerian Startup Act 2022 is ‘welcome initiative that will address japa 100%’

    149 shares
    Share 60 Tweet 37
  • PC: How to spot symptoms of CPU failure

    134 shares
    Share 54 Tweet 34
  • LAGOS | Website to verify vehicle numbers now live

    123 shares
    Share 49 Tweet 31
  • WhatsApp users in Nigeria ‘hit by new virus spreading across Africa’

    106 shares
    Share 42 Tweet 27
  • Presidential Election 2023: INEC server suffered cyber attack, was not robust, Nigeria Computer Society says

    101 shares
    Share 40 Tweet 25

ITU PP-22: Watch Ministers from Nigeria, 99 Member States deliver policy statements

w

©2022 Technology Times is powered by Digital Transformation Media Limited, Nigeria.

No Result
View All Result
  • Home
  • Offline with Shina Badaru
  • Analysis
  • Interviews
  • Big Story
  • Columns
  • Tech @ Work
  • Digital Transformation Series

©2022 Technology Times is powered by Digital Transformation Media Limited, Nigeria.

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Go to mobile version