Business Hilights
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Banks’, payment companies suffered most cyber attacks in 2nd quarter—Report

Fresh report released by leading financial intelligence group, ThreatMetrix, has inferred that commercial banks and emerging payments management companies were most hit by cyber criminals in the second quarter (Q2) of 2017.

This was contained in the latest report presented by ThreatMetrix, a global cyber security company.

According to the 2017 Q2 Cybercrime Report made available to Business Hilights Economic Research Team (BHERT), weekend, key submission of the report is that the level of global cyber crime attacks since second quarter is surging and becoming unprecedented to comprehend.

It would be recalled that it was within the period that several companies including banks, manufacturing companies were hit by ransomware and other systems virus attacks whose negative impacts are still frustrating several business groups across the world.

A top banking official in one of the Nigerian new generation banks who pleaded anonymity confided in Business Hilights on Sunday, in a telephone interview that there are several unreported hits at many banks in Nigeria within the period under review, but “What happened was that the Nigerian banking industry has a way of shielding such information from the public due to the nature of the economy and the place of the banking industry in Nigeria”.

“Let me tell you, that is why many banks are running to India and South Korea to buy and install the best security software so that they can be safe from related attacks.

“If you check on the level of applications for purchase and use of foreign software by banks and even other strategic conglomerates in Nigeria at the National Information Technology Development Agency (NITDA), you will marvel at the rush.

According to him, “Banks are sourcing for the most rugged anti-attack software because latest set of attacks are becoming more rugged and that is to say that the ThreatMetrix is real, at least here in Nigeria”.