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Sophos reveals more organisations in Africa threatened by Ransomware

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Sophos

Despite the innovations by different organizations to avoid the activities of cybercriminals, the Global leader in innovating and delivering next-generation cybersecurity as a service, Sophos, has revealed that ransomware remains one of the greatest cybercrime threats to organizations.

The firm disclosed the information in a recent Threat Report.

The report details how the cyber threat landscape has reached a new level of commercialization and convenience for would-be attackers, with nearly all barriers to entry for committing cybercrime removed through the expansion of cybercrime-as-a-service.

The report said: “Criminal underground marketplaces like Genesis have long made it possible to buy malware and malware deployment services “malware-as-a-service”, as well as to sell stolen credentials and other data in bulk. Over the last decade, with the increasing popularity of ransomware, an entire “ransomware-as-a-service” economy sprung up.

“Now, in 2022, this “as-a-service” model has expanded, and nearly every aspect of the cybercrime toolkit, from initial infection to ways to avoid detection, is available for purchase.

“With the expansion of the “as-a-service” economy, underground cybercriminal marketplaces are also becoming increasingly commodified and are operating like mainstream businesses. “Cybercrime sellers are not just advertising their services but are also listing job offers to recruit attackers with distinct skills.

“Some marketplaces now have dedicated help-wanted pages and recruiting staff, while job seekers are posting summaries of their skills and qualifications.

“As the cybercrime infrastructure has expanded, ransomware has remained highly popular and profitable.

“Over the past year, ransomware operators have worked on expanding their potential attack service by targeting platforms other than Windows while also adopting new languages like Rust and Go to avoid detection. Some groups, most notably Lockbit 3.0, have been diversifying their operations and creating more “innovative” ways to extort victims.

“The evolving economics of the underground has not only incentivized the growth of ransomware and the “as-a-service” industry, but also increased the demand for credential theft.

“With the expansion of web services, various types of credentials, especially cookies, can be used in numerous ways to gain a deeper foothold in networks. Credential theft also remains one of the easiest ways for novice criminals to gain access to underground marketplaces and begin their “career.”

The trends:

*The war in Ukraine had global repercussions for the cyber threat landscape. Immediately following the invasion, there was an explosion of financially motivated scams, while nationalism led to a shake-up of criminal alliances between Ukrainians and Russians, particularly among ransomware affiliates.

*Criminals continue to exploit legitimate executables and utilize “living off the land binaries” (LOLBins) to launch various types of attacks, including ransomware. In some cases, attackers deploy legitimate but vulnerable system drivers in “bring your own driver” attacks to attempt to shut down endpoint detection and response products to evade detection.

*Mobile devices are now at the center of new types of cybercrimes. Not only are attackers still using fake applications to deliver malware injectors, spyware, and banking-associated malware, but newer forms of cyber fraud have been growing in popularity.

Nigeria Breaking News

EFCC arrests 10 suspected illegal miners in Oyo

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Financial Crimes Commission

Operatives of the Economic and Financial Crimes Commission on Monday arrested ten suspected illegal miners in Ogbomoso, Oyo State. The suspects are Yunusa Adisa, Ganiyu Kazeem, Muideen Babayemi, Sulaiman Usman, Adeleke Waliu, Tiamiyu Rokeeb, Olusola Sunday, Oyedokun Oluwagbemiga, Sulaimon Ishiaq, and Olufimihan Eniola.

A statement on Monday by the EFCC’s spokesperson, Dele Oyewale, said the suspects were arrested with six trucks fully loaded with lithium.

He added that the suspects would be arraigned in court after an investigation into the matter. Oyewale said, “Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission have arrested ten suspected illegal miners in Ogbomoso, Oyo State.

“The arrests followed credible intelligence on their suspected involvement in the illegal extraction of solid mineral resources in the state, especially lithium, and their evacuation to unknown destinations. The suspects will be charged to court upon the conclusion of investigations

Source: Dailypost

In other news – My friend warned me against investing in Nigeria – Aliko Dangote

President of the Dangote Group, Aliko Dangote has said a wealthy friend of his, who had previously warned him against investing in Nigeria is now laughing at him for ignoring his advice.

 

Aliko Dangote

He made this disclosure following reports that the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, criticized the quality of diesel from the Dangote Refinery. Read more

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Nigeria Breaking News

Senate and NCWS want domestic staff included in minimum wage

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Senate

The Nigerian Senate and the National Council of Women Society, NCWS on Monday advocated for the inclusion of domestic servants in Nigeria in the proposed N70,000 minimum wage when it comes into effect. The call was at the National Assembly in Abuja during a public hearing on a bill seeking an Act to provide for the Domestication and Registration of domestic workers and Employers in Nigeria,

The public hearing on the bill sponsored by Senator Babangida Hussaini representing Jigawa North West, was organized by the Senate Committee on Employment, Labour and Productivity chaired by Senator Diket Plang.  The Senate’s call for the inclusion of domestic servants in the National Minimum Wage Scheme, especially came from Senator Osita Izunaso representing Imo West, during his remarks at the public hearing.

He said: “As a member of this committee, I feel strongly that part of the provisions to be included in this bill, is to include the domestic workers be it housemaids or servants, in the proposed N70,000 National Minimum wage law. As N70,000 is being planned to be the lowest wage for the lowest public workers, so should be the case for least domestic workers. We are going to put it in the bill for implementation by all employers.”

He, however, suggested that instead of domestication and protection of domestic workers and employers, the intent of the bill should be changed to registration and protection of domestic workers and their employers. In a similar call, the Acting National President of NCWS, Mrs Geraldeen Etuk, argued for the inclusion of domestic servants in the proposed National Minimum Wage law.

However, during an interview at the sideline of the event, the sponsor of the bill, Senator Babangida Hussaini said although he was elated by the general support the bill got from the various stakeholders, the practical implementation of the additional scope of inclusion of domestic workers in the national minimum wage is what is somewhat doubtful.

” There is no point in making a law that cannot be implemented but I’m happy that the generality of stakeholders at the public hearing supported the bill and by extension, the proposed law.

Earlier in his remarks during the session, the Chairman of the Committee, Senator Diket Plang, said an agency will surely be set up for the implementation of the proposed law, but the Ministry of Labour and Productivity will drive the operation from the onset.

Source: Dailypost

In other news – Senate to investigate economic sabotage in petroleum sector, inaugurates Ad-hoc committee

In a bid to tackle saboteurs in the petroleum sector, the Nigerian Senate on Monday inaugurated the Ad-hoc committee to investigate the alleged economic sabotage in the petroleum sector.

 

Nigerian Senate

Senate President, Godswill Obot Akpabio while reading riot act to saboteurs, said, the nation cannot afford to tolerate any form of economic sabotage at this time, even as the petroleum sector is the backbone of Nigeria’s economy. Read more

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Nigeria Breaking News

Senate to investigate economic sabotage in petroleum sector, inaugurates Ad-hoc committee

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Nigerian Senate

In a bid to tackle saboteurs in the petroleum sector, the Nigerian Senate on Monday inaugurated the Ad-hoc committee to investigate the alleged economic sabotage in the petroleum sector. Senate President, Godswill Obot Akpabio while reading riot act to saboteurs, said, the nation cannot afford to tolerate any form of economic sabotage at this time, even as the petroleum sector is the backbone of Nigeria’s economy.

He said any threat to the sector was a direct threat to the economic survival of the country and no government in power would tolerate compromise in the integrity of the petroleum industry.Akpabio lamented the age-long economic sabotage in the petroleum industry, particularly the pipeline vandalisation, which was the main reason the Committee was being inaugurated to investigate and turn in reports for further legislative activities.

Akpabio said: “This industry, without a doubt, is the backbone of Nigeria’s economy, and any threat to its integrity is a direct threat to the economic survival of our beloved nation.

“The petroleum sector has been the lifeblood of our economy, providing the revenue that funds our infrastructure, education, healthcare, and numerous other vital sectors. However, the shadow of economic sabotage looms large, threatening to destabilize this critical industry and, by extension, our nation’s financial stability.

“Over the past few years, we have witnessed a concerning trend of alleged malpractices and economic sabotage within the petroleum sector. These allegations range from illegal bunkering, pipeline vandalism, oil theft, and other nefarious activities that have collectively bled our economy dry. The impact of these actions has been devastating, contributing significantly to our current economic downturn.

“Revenue losses from these illegal activities have deprived our nation of the funds needed for development and growth. They have undermined investor confidence, distorted market operations, and exacerbated our economic challenges. It is not just a financial issue; it is a matter of national security and sovereignty. If left unchecked, these acts of sabotage could cripple our economy and hinder our progress for generations to come.”

The Senate President said the upper legislative chamber would act decisively and urgently too, to deal with criminal acts by identifying those behind the ugly trend and bring them to account for their actions.

He charged the Committee to collaborate with relevant agencies, industry experts, and stakeholders to uncover the root causes of the economic sabotage activities. Identify the perpetrators, their methods, and their networks. Senate Leader, Michael Bamidele Opeyemi is the Chairman of the Ad-hoc Committee investigating economic saboteurs in the petroleum sector.

Source: dailypost

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