- Cyber Hunt in Africa - September 3, 2023
- FraudGPT: Phishing AI - September 2, 2023
- Five Years in Jail for Making Viruses and Assisting a Prohibited Group - September 1, 2023
Cyber crime in Africa is increasingly focused on the financial sector, with 18% of successful attacks targeting financial organizations, according to research by Positive Technologies. Telecom companies follow as the second most targeted sector at 13%, with government agencies, retail, and industrial organizations also facing cyber threats.
African Cyber Threats: Unique Challenges & Solutions
The African cyber threat landscape has its unique characteristics, with telecoms and commerce among the top five most attacked industries, especially due to serving a large customer base across the continent. Cyber criminals aim not only to disrupt companies for extortion but also to steal user data.
Positive Technologies’ research shows that 68% of successful attacks were targeted, focusing on specific organizations, individuals, or industries. Attackers mainly targeted computers, servers, and network equipment (85%) and web resources (15%) using DDoS attacks. Government and financial institutions frequently experience DDoS attacks from hacktivists, damaging critical infrastructure.
Confidential information is the primary target for 38% of attacks, while 35% of incidents disrupt organizations’ main activities, and 7% result in direct financial losses.
Encryption attackers pose a significant threat, with one-third of attacks using VPOs to exploit network vulnerabilities. Additionally, shadow forums are selling access to large companies’ networks in Africa, including government and financial institutions, raising serious concerns.
Positive Technologies stresses the importance of developing and implementing cyber security measures to combat the growing cyber threats in the region. The lack of adequate cyber security measures, limited legislative framework, and low awareness among the population contribute to the surge in cyber attacks, causing significant damage to the region’s countries.
The organization recommends states to create national information security policies and strategies, enact laws for personal data protection, safeguard critical information infrastructure, and establish national cyber incident response teams to improve cyber security across the African region.