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Danger ahead as Corporate Cyberattacks Continues to rise

Izunna Okpala

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security

securityTerms like cyber espionage and corporate hacktivists are being thrown around over many boardroom tables these days, with decision makers expressing massive concern.

security

Cyberattacks targeted at the corporate world continue to be on the increase. Terms like cyber espionage and corporate hacktivists are being thrown around over many boardroom tables these days, with decision makers expressing massive concern. The reality is that the cybercriminal world is evolving at a fast pace, however businesses are struggling to keep up.

While the boardroom has become aware of the importance of strong cyber approaches, often (and painfully) more effective cyber strategies are only looked into after an event has already occurred. In fact, the 2015 KPMG Global CEO Outlook study noted that nearly a third of CEOs list cyber security as the issue that has the biggest impact on their company today, yet only half feel prepared for a cyber-attack.

It has become evident that at a time when attackers are moving swiftly, the traditional approaches to IT security is no longer sufficient. A new way of thinking is needed. In fact, a change in approach and mind-set to effective IT security for today’s business is both necessary and long overdue.

The first step in developing a changed mind-set as a business owner is to understand the mind of the cybercriminal and of course, how they operate. The cybercriminal operating in this century can be considered a ruthless and resourceful entrepreneur with an end goal of financial gain. These cybercriminals are not just your ‘average Joe’ operating underground who can cause minimal damage. These criminals work off clearly defined and effective business models – aimed at causing damage.

This has resulted in the need for businesses to not only protect company data and network infrastructures, but to develop cyber defense strategies that extend beyond the prevention of systems breaches only, to incorporate a wider range of IT security measures aimed at making it much harder and more expensive for the criminals to use the information they procure or trade. Businesses should hold this view: the more precious the data – whether it’s retail customers’ payment details or customers’ intellectual property – the more urgent the need to protect it.

Furthermore, businesses need their cyber security divisions to be as creative and agile as the cyber attackers. This means not only using technology and software together for effective protection, but to also remain aware of the cybercriminal landscape, the movements and changes in this industry and trends at any given time. Given the pace of research and development in the cyber economy, businesses today need to place a focus on harnessing innovative technologies and approaches to effective IT security – to ensure that the approaches implemented today are as effective against the cybercriminal tactics used tomorrow and in the future.

Lastly, while most businesses are riding the technology and innovation train, considering the opportunities being digital creates (driving efficiencies, serving customers better and increasing profits), it must be noted that with the use of innovative technology comes the element of digital risk. Businesses need to consider the risk the digital world brings, when looking at a cyber defense strategy, and  must develop a digital business model that is resilient to cyber-attacks and that can evolve with the business overtime, to remain relevant and of course, effective in the prevention of future cyber-attacks.

Considering all these important elements within cyber that needs business attention, perhaps soon we will be seeing more organisations bring together a variety of cyber security functions to better serve an organisation and its cyber needs as a whole. Moreover, also putting an end to treating cyber security as just being about the protection of corporate IT systems in a world where boundaries are clearly vanishing. Effective protection today is about understanding what a cyber defense strategy needs to look like and what it should be made up of – to not only react to cyber threats, but more importantly to predict and prevent them.

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Database Security

The proliferation of Digital currencies in Africa calls for stronger security measures

Izunna Okpala

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The advantages of cryptocurrencies in Africa are also being exploited as cyber criminals become increasingly technically skilled.

Virtual currency related crime has increased in Africa especially in South Africa, with hackers using peoples’ phones according to mine cryptocurrencies. As the popularity of crypto-assets such as bitcoin grows, various agencies have begun the process of reviewing the consumer impact of the crypto-sector and the impact on personal financial security.

Paxful handles more than 50,000 trades a day with three million wallets worldwide, with South Africa being one of its top markets. The fluctuating value of the most popular digital currency in the world has not dissuaded South Africans either as this month Paxful reported a huge 2800 percent increase in South African trades compared to October 2018. Johannesburg, Pretoria, and Cape Town are the country’s three cities contributing to the number of users. Overall, Paxful also noticed that, when compared to the same period, the number of trades across the African continent has risen by 64 percent.

Importance and transparency of increased security

While the vast majority of cryptocurrency trades are secure, the market has not been entirely resistant to scams and fraudulent transactions in recent years. Scammers prey on users who lack the appropriate awareness in this space with the cryptocurrency industry still quite new.

Marius Reitz, South Africa country manager for cryptocurrency wallet Luno, said while cryptocurrencies like Bitcoin were used for illicit activity, the situation is improving as law enforcement agencies get better at tracking transactions, but online scams are still common.

The most popular form of digital currency scams is through phishing, wherein the criminals use a legitimate-looking (but fake) website, email or SMS to trick you into providing password or detailed information said Reitz.

“Bitcoin is secure, but sometimes it’s dangerous how users use it. The users must treat Bitcoin as cash and protect our personal information and passwords just as we do when we use an ATM or shop online. It’s irreversible when your bitcoin is in the possession of hackers and scammers, so it’s important to have the required safeguards in place. “adds Ray Youssef, Paxful’s co-founderand CEO.

On Paxful, users are safe and secured from scammers through various security measures including the escrow service from Paxful which keeps the bitcoin safe until a transaction is completed.

Protecting Your Cryptocurrency Assets

Youssef concludes: “P2P finance is their only hope of financial inclusion and empowerment for more and more people around the world. While the risk of crypto fraud and theft can not be completely eliminated, you can significantly reduce your chances of becoming a target by following Paxful’s top tips for safe trading and taking a few simple precautions.”

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Network Security

Seychelles’ Intelvision is investing US$-25M in 5G Network

Izunna Okpala

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The mobile operator of Seychelles Intelvision says it will launch the 5G network of the country next year at a cost of US$ 25 million.

The company said with the help of China’s Huawei Technologies, it will roll out the network in June 2020.

Intelvision creator Mukesh Valabihji said the 5G network is going to cover 95% of the island nation, unlike the current 4 G network that only covers 50% of the region.

Valabihji added that the network would initially be launched in the capital city of Victoria and at the international airport, and later on.

He said that integrating state-of the-art technology, 5G should provide networks that are multitudes faster than current country connections with average download speeds of about 1Gbps. The company holds 65% of the residential internet users market in the country, according to Valabihji.

Valabihji was quoted by the local Seychelles Nation newspaper as saying “For Seychelles, what is more important is the after-service. Huawei has over 200 technicians based in Mauritius and many more in South Africa and so if there is a problem, someone can be here within 24 hours. And that is the agreement we have with them. It is a turkey project so they will do everything from start to finish until they hand over the whole system to us.”

Commenting on the development, Andrew Makanya, a telecom analyst at Computer Association of Zambia said the deployment of 5G network in Africa is becoming unstoppable and inevitable.

“Africa is moving faster in deploying the 5G network than industry experts thought or expected. Plans for the 5G network are already advanced in Zambia, Nigeria among other countries and now it’s Seychelles. South Africa already has the network in some places,” Makanya said.

A recent survey by GSMA Intelligence revealed that the adoption of 5G networks in Sub-Saharan Africa is inevitable as it will be part of the future digital landscape.

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Programming

Reasons Why Website Design is Important For Your Company

Izunna Okpala

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web design

Why is it important to have a website design for your company you may think? One of the key things is that it can promote your business to a wide audience and therefore generate lots more business. Read on for more reasons to consider web design sites for your company.

One important reason to get a website for your company is that you can promote the services to a global audience. Being without a website may get you business in the community, but ultimately it can be very frustrating if people hear of your services by word of mouth and then are not able to access any information about them.

In this busy day and age, people don’t always want to or have the time to call and make inquiries as they often have to go through voice mail and leave a message and then when the business gets back to them it isn’t always at a convenient time. In the end they may give up and lose business.

Having a website allows them to read all about you twenty four hours a day and seven days each week so they may browse when the kids are in bed and decide that they want to use your services.

Having a site gives your company a professional, polished look and enables potential clients to see your services at a glance. Websites that are well designed and maintained will reflect a similar level of service and give the impression that you are highly efficient and competent.

If possible you should consult with a professional website designer who can translate your requirements and preferences into a compatible website. This can be functional too enabling you to add people to mailing lists and pay for products online. It is a great way to build customers and advertise your services. A website is a must have.

We offer promo from now till December.. rush now and get the best website that’ll give you the best push.. contact us via +2348154511448 or email us at info@informationstash.com, you can contact the Web Developer directly via this link

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