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Financial Phishing Cyberattacks Increase Significantly in Kenya and Nigeria in Q2 2022

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  According to Kaspersky s Financial Cyberthreats report https bit ly 3BOaiey attacks in the financial sector are becoming increasingly targeted at businesses and away from consumers Data from Kaspersky www Kaspersky co za Security Network shows that the number of financial phishing attempts in African regions increased significantly from the first to the second quarter of 2022 Banks payment systems and merchant websites were attacked electronic Financial phishing is a deceptive way to steal information and is gaining momentum in the region Phishing is a type of online fraud in which the scammer sends fake alerts from banks electronic payment systems and other organizations to trick consumers into sharing their financial data Alerts sent by the scammer may be related to data loss credential update or system failure resulting in the theft of passwords credit card numbers bank account details and other sensitive information According to Kaspersky telemetry a total of 100 192 financial phishing attacks targeting organizations were detected in Kenya in the second quarter of 2022 an increase of 201 compared to the first quarter The majority of attacks targeted e commerce websites 58 followed by banks 21 and payment systems also 21 A total of 61 344 financial phishing attacks targeting organizations were detected in Nigeria during the same period an increase of 79 compared to the first quarter The majority of attacks targeted e commerce websites 52 followed by payment systems 42 and banks 6 A life without the Internet is strange to us So much so that our financial lives are now digital This is the magic of digitization But we must also be aware of an unprecedented wave of challenges Financial threats are one such challenge that is becoming more advanced in exploiting human behavior and will continue to grow Companies trying to stay ahead of these complex and evolving types of cyberattacks must make fraud prevention a central point to control fraudulent transactions eventually reducing future fraud risk and avoiding reputational damage said Emad Haffar chief technical expert at Kaspersky To help companies stay ahead of financial threats and phishing attacks Kaspersky recommends the following Educate employees as they are considered the first line of cyber defense Make it a continuous learning experience and teach them the warning signs to look out for Similarly extend cybersecurity do s and don ts to your customers to protect themselves from falling victim to phishing fraud Use the Kaspersky Fraud Prevention solution which proactively scans and detects if a customer s device is infected with malware in real time Organizations must rely on Kaspersky Threat Intelligence to increase visibility and fuel their security operations with advanced information
Financial Phishing Cyberattacks Increase Significantly in Kenya and Nigeria in Q2 2022

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Financial Cyberthreats

According to Kaspersky‘s Financial Cyberthreats report (https://bit.ly/3BOaiey), attacks in the financial sector are becoming increasingly targeted at businesses and away from consumers.

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Data from Kaspersky (www.Kaspersky.co.za) Security Network shows that the number of financial phishing attempts in African regions increased significantly from the first to the second quarter of 2022.

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Banks, payment systems and merchant websites were attacked electronic.

Financial phishing is a deceptive way to steal information and is gaining momentum in the region.

Phishing is a type of online fraud in which the scammer sends fake alerts from banks, electronic payment systems, and other organizations to trick consumers into sharing their financial data.

Alerts sent by the scammer may be related to data loss, credential update, or system failure, resulting in the theft of passwords, credit card numbers, bank account details, and other sensitive information.

According to Kaspersky telemetry, a total of 100,192 financial phishing attacks targeting organizations were detected in Kenya in the second quarter of 2022, an increase of 201% compared to the first quarter.

The majority of attacks targeted e-commerce websites (58%), followed by banks (21%) and payment systems (also 21%).

A total of 61,344 financial phishing attacks targeting organizations were detected in Nigeria during the same period, an increase of 79% compared to the first quarter.

The majority of attacks targeted e-commerce websites (52%), followed by payment systems (42%) and banks (6%).

“A life without the Internet is strange to us.

So much so that our financial lives are now digital.

This is the magic of digitization.

But we must also be aware of an unprecedented wave of challenges.

Financial threats are one such challenge that is becoming more advanced in exploiting human behavior and will continue to grow.

Companies trying to stay ahead of these complex and evolving types of cyberattacks must make fraud prevention a central point to control fraudulent transactions, eventually reducing future fraud risk and avoiding reputational damage,” said Emad. Haffar, chief technical expert at Kaspersky.

To help companies stay ahead of financial threats and phishing attacks, Kaspersky recommends the following: Educate employees, as they are considered the first line of cyber defense.

Make it a continuous learning experience and teach them the warning signs to look out for.

Similarly, extend cybersecurity do’s and don’ts to your customers to protect themselves from falling victim to phishing fraud.

Use the Kaspersky Fraud Prevention solution, which proactively scans and detects if a customer’s device is infected with malware in real time.

Organizations must rely on Kaspersky Threat Intelligence to increase visibility and fuel their security operations with advanced information.

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