• Wednesday, February 21, 2024
businessday logo


Microsoft reinforces cybersecurity commitment to drive business

Cybersecurity (2)

Global technology company, Microsoft has moved to protect the cyberspace by intensifying its investments and commitment to providing a safer and more trusted platform to organisations and businesses in the Middle East and African region.

The company which hosted a media roundtable in Lagos recently said it was prompted to focus more on cyber security after seeing shocking revelations on damaging online threats to businesses in its recently published Security Intelligence Report, which delved into the cybersecurity events that took place in the last one year.

With increase in trends of crypto-currency mining, phishing, ransomware and malware attacks, Microsoft says it is building better security with AI used to detect anomalies and protect against that.

The report identified four key trends that have risen to the forefront in the fight against cyber threats. “From our ongoing research, we found that in the past year ransomware attacks as a vector declined, software supply chains have become a risk, cryptocurrency mining is prevalent, and phishing still remains the preferred attack method,” says Daniel Adeyemo, digital advisor for Microsoft Middle East & Africa.

“While this may indicate progress in blocking ransomware attacks against organisations, it also draws our attention to new avenues now being identified for attacks. These new avenues are very easily ignored by organisations but are a recognisable ‘pathway’ for penetration.”

Although security has always been a focus for Microsoft, the organisation recognises that the digital world requires a new approach on how to protect, detect and respond to security threats.

Analysts estimate that in Nigeria, ministries, departments and agencies continue to lose over N127 billion annually to cybercrime – this amounts to 0.08 per cent of the country’s annual Gross Domestic Product (GDP).

“While there will always be new threats, attacks and technologies, organisations and companies can begin to take action today to address security concerns and improve their security postures. It is critical for companies to strengthen their core security hygiene (across areas like monitoring, antivirus, patch and operating systems), adopt modern platforms and comprehensive identity, security and management solutions, and to leverage features offered within cloud services. It is just as important to create education and awareness across employee populations in order to build and sustain a pervasive security culture,” said Akin Banuso, country manager for Nigeria and Ghana at Microsoft.

“We believe that security is a journey and not a destination. This must be addressed holistically by everyone and not by a single vendor. By working closely with our partners, governments, industry, and the security ecosystem our aim is to ensure consumers and businesses can trust the technology they make use of – not viewing these solutions as barriers to technology adoption,” Adeyemo said.

It is also important that the world starts to prepare in terms of security, for the over 20billion interconnected devices that we would have by the year 2020.

Microsoft’s recently published Security Intelligence Report, which delved into the cybersecurity events that took place over the past year includes an overview of the threat landscape, lessons learned from the field and recommended best practices – this was also unpacked at the event.