The Cisco 2018 Annual Cybersecurity report released at the weekend revealed that 94 per cent of companies surveyed in the Middle East and Africa suffered cyberattack breaches and that 34 percent of breaches resulted in more than half of systems being impacted.
The report, which identified the evolution of ransomware as one of the most significant threat developments over the past year, also highlighted that malware had become more vicious and harder to combat and that attackers are developing more skill in creating malware that can evade traditional sandboxing. It also revealed that adversaries are increasingly embracing encryption – meant to enhance security – to conceal command-and-control activity and that nearly half of the security risk that organizations face stems from having multiple security vendors and products.
The general manager of Cisco Nigeria, Olakunle Oloruntimilehin, speaking at the presentation of the report at its Nigerian office in Lagos, said Cisco is calling on businesses to adopt security measures and to take a comprehensive approach across people, process, technology and policy to protect their businesses from hackers and cyber criminals warning that cybercrimes has become more rampant and sophisticated.
He said: “Several companies are hit by cyber breaches and attacks every year causing losses in millions of naira and stealing highly classified information. It is therefore imperative that any organization that desires to stay safe and minimize risk or loss address cybersecurity at the top, with executive leadership setting the tone and engender a ‘security-first-always-and-everywhere’ culture that flows throughout the organization.”
The study also indicated that nearly a quarter of organisations in the region manage more than 21 vendors and cite lack of security personnel as one of the biggest obstacles to security. Corroborating the importance of robust cybersecurity practices, Systems Engineer and Security expert at Cisco, Tomi Amao remarked that Cisco researchers observed a two-fold increase in malicious web traffic volume in roughly over 12-months.