60% of Firms suffering from Cyberattack every year in Nigeria

In Nigeria, the organisations suffering from cyberattack is continuing to increase, as 60% of firms have been suffering from cyberattack every year, as per a recent survey carried out jointly by Sidmach Technologies and Sophos Nigeria Limited.

According to Mr. Jimi Falaiye, Sophos Nigeria's Country Manager, businesses were often worried about data security, however unfortunately 95% of the security breaches have been caused due to human error.

Most of the antivirus were reactive in nature and protects organisations or people from classic dangers, such as known viruses, worms, and Trojans. Known viruses, worms, and Trojans meant that this threat has been seen by the antivirus software in the past. Nathanael Odofin, the Market Intelligence as well as Research Analyst of Sidmach Technologies Nigeria Limited, said that "a study has found that a typical antivirus will only stop 30-50% of new malware when it first appears. Unless the antivirus software has seen a particular threat in the past, it won't necessarily protect your computer". He also added that an organisations takes on average 191 days for identifying the data breaches.

Odofin said that "cyber-criminals and hackers will infiltrate your company through your weakest link, which is almost never known in the Information Technology (IT) department". He further told that 92.4% of malwares were delivered through email, even as the total cost on cybercrime committed globally was more than $1 trillion in the year 2018.

Sharing more facts related to cybercrimes, particularly as the ransomware affects the SMBs (Small and Medium Businesses) in Nigeria, Odofin said that 22% of organisations required to immediately cease their business operations due to ransomware.

Referring to the Investigation Report of Verizon Data Breach, Odofin reminded the businesses in Nigeria that more than half of all the cyber breaches in the year 2017 included use of malware. He described the malware activities as spreading spam, stealing details of credit card and revealing passwords.

"This is why the fortification of antivirus merely is not enough. You need to bolster this layer of defence with another layer of an anti-malware," Odofin, the Market Intelligence as well as Research Analyst, added.

» SPAMfighter News - 3/26/2019