Tech Top 5 News
NITDA WARNS NIGERIANS OF QR CODE SCAMS
The National Information Technology Development Agency (NITDA) has raised the alarm regarding the escalating risks tied to scanning QR codes, cautioning Nigerians against potentially fraudulent activities orchestrated by scammers exploiting this technology.
QR codes, known as Quick Response codes, are handy two-dimensional codes scannable via smartphones for swift access to information or actions.
NITDA’s statement highlights the alarming trend of scammers leveraging QR codes for phishing scams, payment fraud, data theft, and identity theft. The agency urges users to exercise utmost vigilance and caution while engaging with QR codes to thwart malicious attempts.
“While QR codes offer quick access and convenience, they have unfortunately become a tool for scammers to perpetrate fraudulent activities,” emphasised NITDA, underlining the varying impacts of these codes on users, depending on scammers’ tactics.
NITDA outlined scammers’ methods, including generating QR codes leading to malicious applications or phishing websites, rerouting payments to scammer accounts, and embedding malware or data-stealing scripts within QR codes. These techniques pose severe risks such as unauthorised transactions, private data theft, and identity fraud.
“Scammers exploit QR codes inserted in fake advertisements or surveys to collect users’ personal details like names, addresses, and contact information for identity theft or targeted frauds,” warned NITDA.
To safeguard against QR code-related scams, NITDA advised users to exercise caution when scanning codes from unfamiliar sources, employ reputable QR code scanning apps with robust security features, and keep devices updated with the latest antivirus software and security patches.
By promoting awareness and implementing preventive measures, NITDA aims to empower Nigerians in navigating the digital landscape safely amidst emerging cyber threats associated with QR codes.
ERRANDLR LAUNCHES DIRECT LINK FEATURE, PARTNERS SMARTPARCEL FOR INNOVATION
Nigerian logistics platform, Errandlr has introduced an innovative feature called Errandlr Direct Link, alongside a strategic partnership with SmartParcel locker systems. This move aims to revolutionise the delivery experience for businesses and customers alike.
The Errandlr Direct Link feature is designed to empower vendors by simplifying the delivery process. It generates unique URLs for each vendor or partner, eliminating the need for customers to repeatedly enter destination information when creating waybills. This not only reduces checkout time significantly but also enhances convenience and efficiency in the delivery process, offering customers greater control and transparency.
Moreover, Errandlr has integrated its Direct Link technology with SmartParcel lockers, introducing QR codes that customers can scan using their smartphones. These QR codes enable customers to initiate deliveries, receive unique access codes for lockers, and seamlessly deposit their packages. This integration creates a seamless experience for businesses utilising SmartParcel lockers and their customers.
Benjamin Adeyemo, CEO and co-founder of SmartParcel, expressed determination to deploy digital SmartLockers nationwide, employing the Franchise Model. This initiative invites individuals and corporate entities to invest in SmartLockers, offering guaranteed monthly returns monitored remotely through dashboards.
Additionally, Errandlr Direct Link offers added benefits for businesses using the Paystack online store platform. Vendors can integrate the Direct Link seamlessly into their Paystack store settings, specifically within the “redirect after checkout” field. This integration ensures a smooth transition from purchase to delivery, enhancing the overall customer experience.
SOPHOS REPORT: RANSOMWARE ACCOUNTS FOR 70% OF 2023 CYBERATTACKS
Cybersecurity firm Sophos has released its latest report, revealing a significant rise in ransomware attacks as the primary form of cybercrime targeting businesses in 2023. According to the Sophos Active Adversary Report, ransomware attacks accounted for a staggering 70% of total cyberattacks, marking a concerning trend in the cybersecurity landscape.
The report, which analysed over 150 incident response cases handled by the Sophos X-Ops IR team throughout 2023, also highlighted the persistent threat posed by Network Breach incidents, which maintained a 19% occurrence rate during the same period. Sophos noted that many network breaches were linked to unsuccessful ransomware attacks, indicating a shift in tactics among cybercriminals.
Sophos provided insights into the correlation between ransomware attacks and network breaches across different quarters of the year. Interestingly, during quarters where ransomware attacks were less prevalent, such as in Q2 (67%) and Q3 (62%), network breaches surged above the annual average, reaching 21% in Q2 and 28% in Q3. This data suggests a strategic adaptation by cybercriminals, with unsuccessful ransomware attempts often leading to network breaches.
The report’s findings underscore the growing sophistication and persistence of cyber threats, urging businesses to prioritise robust cybersecurity measures and proactive incident response strategies. Sophos emphasised the need for organisations to stay vigilant and continuously update their defenses to combat evolving cyber threats effectively.
As ransomware attacks continue to dominate the threat landscape, cybersecurity experts stress the importance of comprehensive cybersecurity protocols, employee training, and regular vulnerability assessments to safeguard sensitive data and prevent costly cyber incidents.
MASTERCARD, MONO FORGE ALLIANCE TO REVOLUTIONISE PAYMENTS IN AFRICA
Mastercard, a global payment giant, has joined forces with Mono Technologies Nigeria Limited, a leading open banking infrastructure provider, in a strategic collaboration poised to reshape the payments landscape across Africa.
This groundbreaking partnership leverages Mono’s expertise in open banking and Mastercard Gateway’s cutting-edge payment technology to introduce a secure and efficient account-to-account (A2A) payment solution tailored for businesses in the region. The initiative not only addresses the evolving demands of consumers but also aims to enhance the overall payment experience, setting new standards in the industry.
For Mastercard, this collaboration signifies a significant milestone in its Alternate Payment Methods (APM) strategy in Nigeria and represents a pivotal step towards establishing Mastercard Gateway as a multi-rail gateway, offering diverse payment options.
Folasade Femi-Lawal, Country Manager and Area Business Head at Mastercard, West Africa, emphasised the strategic importance of embedding Mono’s open banking solution within Mastercard Gateway. This move aligns seamlessly with Mastercard’s vision to expand payment methods and improve customer experiences, ultimately driving innovation and financial inclusion in Nigeria and beyond.
Abdul Hassan, CEO and co-founder of Mono, echoed the sentiment, highlighting the collaboration’s significance for Mono, fintech, and Open Banking payments in Africa. This partnership signifies a convergence of Mono’s mission to power the internet economy in Africa with Mastercard’s vision to connect and empower a digital economy benefiting all stakeholders.
The joint efforts of Mastercard and Mono aim to foster an ecosystem that propels the region’s digital economy forward through financial inclusion, innovation, and sustainable growth, paving the way for transformative changes in the payments landscape across Africa.
MICROSOFT UNBUNDLES TEAMS FROM OFFICE GLOBALLY
Microsoft’s latest move to sell its chat and video app, Teams, separately from its Office product globally has stirred discussions within the tech and business sectors. This decision, effective from April 1, 2024, marks a significant shift in the company’s strategy, particularly in response to antitrust concerns.
The decision follows a similar unbundling move made by Microsoft in Europe six months ago. This initial separation was seen as a proactive measure to avoid potential antitrust fines from the European Commission. The recent global rollout of this separation underscores Microsoft’s commitment to addressing regulatory pressures worldwide.
Under the new pricing structure, Office will be available for new customers at rates ranging from $7.75 to $54.75. Meanwhile, Teams will be sold separately as a standalone product for an additional $5.25. These prices may vary depending on the country and currency.
Existing customers with licensing deals inclusive of Teams can choose to retain their current arrangements or migrate to the new offerings. Microsoft emphasises that current suites like Microsoft 365 Business and Frontline with Teams will coexist alongside the new lineup. Customers have the option to select suites with Teams included or opt for versions without Teams, such as Microsoft 365 Business Basic, Microsoft 365 Business Standard, Microsoft 365 Business Premium, Microsoft 365 F1, Office 365 F3, and Microsoft 365 F3.
This strategic move by Microsoft comes in the wake of its history with EU antitrust fines amounting to approximately $2.37 billion over the past decade. The company faces potential charges of up to 10% of its global annual turnover if found guilty of antitrust breaches, making these regulatory considerations crucial in shaping its business decisions moving forward.