As digital transformation progresses, robust and resilient cybersecurity is becoming a non-negotiable prerequisite to ensure market integrity. In Africa, however, this remains a significant challenge, with many organizations still unprepared for cyberattacks.
Today, October 17, the deadline imposed by hacker group Karakut before publishing the 102 gigabytes of strategic data it stole from the Senegalese Telecommunications and Posts Regulatory Authority (Artp) is expiring. Last week, the group claimed a cyberattack against the public institution requiring ransom payment to avoid the publication of the stolen strategic data.
The regulator is not the only victim of that group, which claimed attacks on several other companies. Nevertheless, as of October 15, it was still among the few institutions that had refused to negotiate with the hackers.
According to IT consulting firm Accenture, Kakakurt has been active since June 2021. The group targets small and medium-sized organizations. It gradually infiltrates a computer system to extract data but it does not inject potentially destructive malware. After extraction, it switches to ransomware blackmail asking the attacked targets to pay ransom to avoid having their data released to competitors or the public. Accenture explains that the group adapts its attack to the victims’ environments, favoring "Living off the Land (LotL)" attacks that leverage legitimate software and functions on victims’ systems to perform malicious actions (according to cybersecurity firm Kaspersky).
In June 2022, the U.S. Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency (CISA), the Treasury Department, and the Financial Crimes Enforcement Network (FinCEN) issued a joint cybersecurity advisory calling out businesses and organizations about Karakurt's actions. They reported that known ransom demands ranged from US$25,000 to US$13,000,000 in Bitcoin.
In its latest Global Cybersecurity Index report, published in 2020, the International Telecommunication Union (ITU) reported that only 23 African countries had a national cybersecurity strategy. At the same time, only nineteen had a cyber attack alert and response center (CERT) while Only 31 had legislation on illegal access to information systems and six had cybersecurity skills development mechanisms. Only 15 countries had a level of cybersecurity preparedness above the global average with Mauritius remaining the leader on the continent, since 2014.
Muriel Edjo
Over the past two decades, mobile money has grown into a cornerstone of African finance. Driven by i...
It’s a common scene in any Lomé (Togo) market, but it’s telling. A customer hands a 10,000 CFA franc...
• ECOWAS plans a rapid deployment brigade of 260,000 troops costing $2.5bn annually.• The force...
• Yunus Group opens Ivory Coast unit to finance projects, launch Yunus Pay. • Plans Ghana and Nigeri...
Nigeria eyes $671m data center market by 2030, seeks Chinese investors. Rising mobile da...
Kuwait’s Metro Holding eyes investment in Algerian renewables and green hydrogen Europe remains the main market, with 30–40 TWh export target by...
JCR affirms Afreximbank at A-/stable; CCXI keeps AAA/stable rating Bank’s strong capital base and steady profits highlighted by Asian...
Two lithium mines, Goulamina and Bougouni, raise transfer pricing concerns Sales tied to foreign parent companies risk lowering taxable...
Law sets prison sentences of 2–5 years and fines for same-sex relations Foreign offenders face harsher penalties, including expulsion on repeat...
The Mount Nimba Nature Reserve, a true cross-border treasure, stretches across Guinea and Côte d’Ivoire, at the edge of Liberia. It is dominated by an...
• Grand Egyptian Museum to open November 1 near Giza Pyramids• TikTok named official digital partner for live-streamed ceremony• GEM to display 100,000+...