Assessing Africa’s cyber threat landscape

Cyber threats and cyber criminals continue to pose a significant challenge in Africa, mirroring the global trend as companies prioritize digital transformation in their growth strategies. David Emm, Principal Security Researcher at Kaspersky, highlighted the increasing cyber targets on CNBC Africa's interview with Julius Bizimungu. Emm emphasized that cyber crime is a worldwide phenomenon affecting both consumers and businesses. In 2020, the global malware encounter rate was around 10%, similar to North America and Europe, indicating cyber criminals' interest in targeting individuals in Africa as well. Financial institutions are prime targets for cyber criminals, raising concerns about the magnitude of cyber threats on the African continent. While sophisticated targeted attacks like APTs are less prevalent in Africa compared to other regions, threats such as banking trojans, financial attacks, and ransomware pose significant risks to businesses and individuals across the continent. Emm highlighted the vulnerability of any computer-connected system, making them potential targets for cyber criminals. The COVID-19 pandemic has amplified cyber threats globally, with attackers exploiting the crisis to launch phishing attacks and install malicious codes on systems. The prolonged nature of the pandemic has provided cyber criminals with a persistent hook to deceive individuals and organizations. The surge in ransomware attacks, especially in South Africa, underscores the importance of businesses bolstering their cybersecurity measures to mitigate potential risks. Emm emphasized the need for organizations, especially financial institutions, to enhance their cybersecurity posture by raising awareness among staff about potential threats and tactics used by cyber attackers. Implementing robust endpoint protection, monitoring network activities, and promptly detecting any unusual behavior are crucial in safeguarding against cyber threats. Organizations must stay vigilant and proactive in addressing the evolving cyber landscape to prevent financial trojans, ransomware, and other malicious activities. While Africa may not be a primary target for complex cyber attacks like APTs, Emm warned that the region is witnessing a growing trend of such attacks by groups like Lazarus and Transparent Tribe. African businesses need to acknowledge the rising threat of sophisticated cyber attacks and prepare accordingly. Emm suggested that Africa should heed the experiences of Europe and North America as a reflection of the potential future cyber threat landscape and take proactive measures to protect their infrastructure and sensitive data.