Anglo African weekly news wrap on trending cyber-attacks, to keep you alert

March 28, 2019

Enterprise-grade cyber risk assessment company Sayata Labs has emerged from stealth with $6.5 million in seed funding for its advanced cybersecurity technology, reports Jane Connolly. The Tel Aviv-based company claims to offer insurers and brokers the deepest cyber risk assessment solution in the cyber insurance industry for SMBs, with technology that has never been seen before in the SMB market.

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eCurrency Mint, provider of digital currency security systems for central banks, is now using nCipher nShield hardware security modules (HSMs) to help strengthen the security embedded in its Central Bank Digital Currency (CBDC) solution.There is enormous potential for the eCurrency technology and CBDC eCurrency is based in Dublin, Ireland. It aims to enable central banks to securely and efficiently issue digital fiat currency to operate alongside traditional notes and coins.

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Identity-as-a-service provider Jumio is launching a new, fully-automated AML solution, Jumio Screening, as a result of an integration with ComplyAdvantage, reports David Penn at Finovate. The new solution leverages ComplyAdvantage’s automated watchlist and politically exposed persons (PEPs) screening and monitoring to streamline the compliance process. Chief product officer for Jumio Philipp Pointner highlighted the role of sanctions lists in helping fight financial crime such as money laundering. “This integration equips our clients with market-leading data and best-of-breed digital identity and screening technologies to make the right AML risk decisions with automated customer onboarding and ongoing monitoring,” Pointner says

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IBM has unveiled a global blockchain network, Blockchain World Wire, that will offer near real-time cross-border payment exchange and international settlement. “By creating a network where financial institutions support multiple digital assets, we expect to spur innovation and improve financial inclusion worldwide” Blockchain World Wire can transfer funds in 47 currencies to locations in 72 countries, and the company is calling it the first blockchain network of its kind to integrate payment messaging, clearing and settlement in a single unified network.

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The Magento e-commerce platform could soon face a number of attacks after hackers publicly released code that exploits a critical vulnerability in its systems which could be used to plant payment card skimmers on sites that have not yet been updated. PRODSECBUG-2198 is the name of the SQL injection vulnerability that attackers can exploit without the need for authentication.

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When it comes to cyber-attacks, the most common method of gaining access to your passwords and information may surprise you- it is just by asking for it. Hackers use a method called Spear Phishing to trick users into giving up their data freely. Spear phishing is an email communication or some other type of electronic communications scam that targets individuals, organizations or businesses through content that looks like it is coming from a legitimate source. Cybercriminals use these methods to steal data and information for malicious purposes sometimes by installing malware on computers, but often times tricking people into giving up the information freely as they believe it is coming from a trusted source.

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