Tuesday, June 15,
2021 / 04:00 PM / Sponsored Post by ruth albert / Image Header Credit: ruth albert
The Coronavirus pandemic has sped up
digitalization globally as most of the economy has been forced to move online,
thus increasing cybersecurity threats in Nigeria.
Due to rapid digitalization, hackers
have exploited this opportunity to attack the digital infrastructure of
Nigeria. Nigeria, including other South African states, lag when it comes to
digital security, thus making them a favorite target for cybercriminals across
the globe.
These threats are not only at the
national level but also at the individual level in Nigeria. Here are the top 6
major cybersecurity risks facing the Nigerian economy in 2021 and beyond.
1.
Cloud
Vulnerability
Cloud vulnerability is
a significant cybersecurity threat facing Nigeria and is also one of the major
concerns for Nigerian companies. Most businesses have moved to the cloud to
store their data, and daily business operations, primarily as employees work
from home. Cloud makes a tempting target for hackers.
Some of the top cloud security threats
include insider threats, data breaches, API, and DDoS attacks. One way to
strengthen your security is to use a VPN to encrypt your traffic, making it
untraceable for the hacker. You can use any premium
VPN service that works in Nigeria to secure your online traffic.
2.
IoT
Attacks
IoT (Internet of
Things) devices are multiplying, with billions of devices already connected to
the internet. IoT devices include everything from desktops and laptops to
routers, tablets, webcams, security systems, printing machines, and more. The
more the devices connected online, the higher the security risk for companies
in Nigeria.
There are various cybersecurity
issues with IoT devices. Once a hacker gets
access to one device, it can tap into confidential company data and overleaf
the entire network. Hackers also lockdown company access and demand ransomware
in return for access to data. Companies can protect their networks by using a
VPN to encrypt traffic which makes it impossible for the hacker to track.
1.
Remote
Work Challenges
With so many
organizations in Nigeria moving towards Work From Home (WFH), it has become
necessary for employees to access company information remotely – thus leading
to significant cybersecurity threats. It has caused companies to take a step
further for protecting and ensuring safe access to official resources remotely.
Studies have shown that
80%
of the data breaches are caused due to weak passwords because they are predictable and can be easily cracked. Therefore,
companies are moving towards multi-factor authentication and virtual private
networks to secure confidential data.
2.
5G-to-Wi-Fi
Vulnerabilities
Cyberattacks are also
continuing to become more and more advanced. Cybercriminals are now trying to find
ways to attack a 5G-to-Wi-Fi handover.
As 5G is being adapted
more and more, more calls and data to Wi-Fi networks are being assigned by
wireless networks to conserve bandwidth. Due to the rapid adoption of 5G, the
technology used to safeguard the handover is not yet fully developed to secure
the transition. Because of this, cybercriminals get a lot of opportunities to
hack and compromise devices. One way to safeguard against it is to use a VPN to
encrypt online traffic.
3.
Ransomware
Attacks
Ransomware attacks have
troubled countless businesses for many years now. If successful, these attacks
can cost companies billions of dollars. This alone serves as encouragement to
hackers so that they can keep refining these attacks.
The process through
which these hackers buy ransomware kits on the dark web is getting easier and
easier these days. Ironically the ransomware itself is becoming more and more
complex with each passing day. It is also reported that ransomware will break
into small but more powerful ransomware that will work together.
By doing this,
attackers are becoming more dangerous and pose a more significant threat than
ever before. Even a minor attack from this ransomware can cause companies
considerable downtime.
4.
Weak
Passwords, Password manager, and Two-factor Authentication
Another common threat
faced by businesses is employees using a weak password. Many companies are
using various online services that require different accounts. Usually, these
services hold sensitive data and information. Using a password that can be
easily guessed or using the same password for multiple accounts can compromise
data.
To guarantee that
workers are using strong passwords, businesses need to adopt password
management technology or start using two-factor authentication on their
accounts. Password management technology will help employees handle the
passwords and suggest stronger passwords for the accounts. Two-factor
authentication technology will implement various verification methods, such as
sending a verification code or notification via email at the designated
destination to add an extra layer of security to the accounts.
Conclusion
The year 2021 will
prove to be very challenging for Nigerian cybersecurity. According to last
year’s statistics, it seems like security will be a significant concern for
Nigeria. Considering the current situation, companies need to beef up their
cybersecurity measures and use online
privacy tools like VPNs to secure company data from
hackers. It is time to take proactive steps to manage cybersecurity risks as
most businesses cannot afford an attack.
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