₦airaland Forum

einsteine:
Very funny, cyber attacks would be HIGHLY effective against Nigerian banks. The reason they haven't been attacked yet as more to do with the low value of our Naira.

In fact, an old generation bank was recently attacked with a privilege escalation attack that saw them lose up to a billion.

The good news is Nigerian cybercriminals are not technically proficient, even though they are masters of fraud and social engineering.

The bad news is that as less and less targets are being found in developed economies, Eastern European hackers would start concentrating on countries like Nigeria and it would be a trivial exercise to get a ransomware on a bank network in Nigeria, for instance.

dre11:
https://www.dailytrust.com.ng/cyber-attacks-n150bn-depositors-monies-at-risk.html
You already knew when the attack would happen, that means you have hand in it. Now that you know do something to prevent it

AntiWailer:
I doubt the first statement. Bank's don't joke with Cyber Threats.

I am not talking about connivance and frauds. I am not talking about a rogue staff who have access to card information and decide to send it to the guys that can use the information.

Losing 1 Billion to Privilege escalation attack in this time is laughable. That is one of the basic threat proper OTG-AUTHZ-003 Test would have neutralized.

The bolded is also funny. Any bank that falls victim of ransom ware should have the entire Security, Control and Audit team sacked.

einsteine:
If you know anyone who works in IT security at any of the five oldest Nigerian banks, ask them about the recent incident.

I don't think Nigerian banks are more technically advanced than Taiwan banks that were hit by a series of unlimited operations attack last year.

AntiWailer:
I doubt the first statement. Bank's don't joke with Cyber Threats.

I am not talking about connivance and frauds. I am not talking about a rogue staff who have access to card information and decide to send it to the guys that can use the information.

Losing 1 Billion to Privilege escalation attack in this time is laughable. That is one of the basic threat proper OTG-AUTHZ-003 Test would have neutralized.

The bolded is also funny. Any bank that falls victim of ransom ware should have the entire Security, Control and Audit team sacked.

wonlasewonimi:
That guy is right. Nigerian banks would be the easiest to attack if cyber criminals focus attention on them.

If you have critical infra that is Internet facing, you can't escape it. It's your disaster recovery and incident management process that will help you determine how prepared you are. Is it a major naija bank using access database that would withstand cyber attack?

If NHS can be owned. No organisation can escape it.

The amount of splunk alerts I receive everyday sef.

AntiWailer:
Bros forget NHS. How much is NHS spending on defence mechanism ?

And if i may ask, which bank is using Access Database ? I am not talking about Microfinance Bank.

Majority of the banks irrespective of their core banking platform use Oracle Database with the latest Security patch installed from time to time.

Infrastructure on Internet depends on the Architecture adopted.

Servers on the DMZ don't talk to your core infrastructure directly.

deloon:
Exagerrated Numbers

AntiWailer:
I doubt if a Cyber attack can be successful against a Nigerian Bank.

They are highly regulated and they spend too much on IT infrastructure for that to happen.

Bank customers can be tricked to let go of their credentials via phishing but 2 factor authentication can protect to some extent.

The plenty innovative products exposes the customers to a lot of risks too but they make enough money to cover their risk appetite.

Luukasz:
We has a country with all the resources should have advanced past the point where cyber attacks becomes much of an issue.
Countries like china, japan, usa, russia et al are thinking of how to bring in new inventions and tech advancement but here we are thinking of cyber attacks

wonlasewonimi:
How much does NHS spend on security lmao. The whole NHS with the health records of every citizen of the UK.
You will be surprised at how lax the security of major companies are. I'm not going to tell you the bank and its not a microfinance bank.

Most companies/banks networks are not segmented and the ones segmented have done a bad job of it.

All you need to break into anywhere in Nigeria is a good social engineering skills.

Forget about latest patches, zero day exploits nko. Attackers are a step ahead.
Go and read about major breaches on JP Morgan, citibank and so on.

I repeat its not about if they will attacked its a matter of when.

MostBanned:
It works very well with the aid of insiders (some bank staffs)

AntiWailer:
Bank's network security are segmented Bro. Those are basic things required.

I can tell you as a matter of fact that NO BANK uses Access as database for their core banking platform.

AntiWailer:
I doubt if a Cyber attack can be successful against a Nigerian Bank.

They are highly regulated and they spend too much on IT infrastructure for that to happen.

Bank customers can be tricked to let go of their credentials via phishing but 2 factor authentication can protect to some extent.

The plenty innovative products exposes the customers to a lot of risks too but they make enough money to cover their risk appetite.

cosade:
I agree with you absolutely.

However, our banks have been very proactive in customers' awareness in order to reduce the incidence of being tricked to give away their credentials to cyber criminals.

wonlasewonimi:
How much does NHS spend on security lmao. The whole NHS with the health records of every citizen of the UK.
You will be surprised at how lax the security of major companies are. I'm not going to tell you the bank and its not a microfinance bank.

Most companies/banks networks are not segmented and the ones segmented have done a bad job of it.

All you need to break into anywhere in Nigeria is a good social engineering skills.

Forget about latest patches, zero day exploits nko. Attackers are a step ahead.
Go and read about major breaches on JP Morgan, citibank and so on.

I repeat its not about if they will attacked its a matter of when.

AntiWailer:
I doubt if a Cyber attack can be successful against a Nigerian Bank.

They are highly regulated and they spend too much on IT infrastructure for that to happen.

Bank customers can be tricked to let go of their credentials via phishing but 2 factor authentication can protect to some extent.

The plenty innovative products exposes the customers to a lot of risks too but they make enough money to cover their risk appetite.

livebynite:
shut the hell up what do you know?

i spend alot of time on the dark internet and every day in onion forums all i hear are iranian hackers looking for nigerian contacts to get their internet login details to use. why? it is extremely easy to hack nigerian banks if you dont know.
pls close your mouth nexttime if you dont know anything