Africa witnessed a spate of cyberattacks in 2023, against African Union Commission (AUC) systems, Kenyan government data systems, and Nigerian election infrastructure among others. The attacks seem to have served as a wake-up call for the African Union (AU), driving its Peace and Security Council (PSC) to make cybersecurity a key agenda point at this […]

Three Nigerian fintechs have lost over N5 billion to hackers in the first 8 months of this year as cases of hacks and frauds increase within the ecosystem. While there are many more incidences involving undisclosed amounts running into billions, Nairametrics gathered that the situation is getting more complicated as some of the heists had […]

Stakeholders in the banking and financial ecosystem, yesterday, decried the surge in cyber fraud as Deposit Money Banks (DMBs) lost N10 billion in the second quarter of 2023, representing almost 300 per cent year-on-year compared to the previous year. At a Mastercard forum convened to tackle fraud and cybersecurity threats in the financial sector, its […]

For the second year in row executives of financial institutions in Africa have put cybersecurity concerns ahead of every risk factor in the financial services sector. 74% of the participants in the 2023 African Financial Industry Barometer survey say cybersecurity regulation needs improvement. According to  the 2023 Africa Financial Industry Barometer, developed in partnership with […]