Mis/Disinformation in Nigeria’s Financial Institutions

also ft Anonymous Sudan might be Sudanese afterall

October 19, 2024

CybAfriqué is a space for news and analysis on cyber, data, and information security on the African continent.

Hello,

This issue focuses on the commercial angles of mis/disinformation.

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HIGHLIGHTS 

Mis/Disinformation in Nigeria’s Financial Institutions 

The end of information manipulation isn’t always political. Nigerian banks are currently facing regulatory pressures, talent loss, market changes, and tricky fiscal policies, and many of them are not taking it well.

One of Nigeria’s largest banks, GTCO, has been subject to a lot of rumors and online uproar following unexplained downtimes, early closures, and overall malfunction. There have been statements that the bank might have been breached, or might be laundering funds, might be misappropriating customer’s funds, or might be planning on shutting down.

In a press statement, the bank noted that these “false news reports” will face legal procedures “to safeguard its reputation.” According to the bank, it is transitioning its core banking application, which it noted would cause disruptions. However, customers seem to have lost trust in its operations, or there may be unsuspected motives for disinformation.

Many bank runs have been a result of miscommunication or mismanaged information.

Brothers behind Anonymous Sudan face charges 

In what has been center of infosec conversations this month, the U.S. government has indicted two Sudanese brothers, Ahmed Salah Yousif Omer and Alaa Salah Yusuuf Omer for their involvement in the cyber operations of Anonymous Sudan, a hacker group believed to have ties with Russia(actually more like be a Russian group cosplaying as Sudanese). The group claims to target countries and organizations engaging in “anti-Muslim activity” and have collaborated with pro-Russian attack groups like Killnet since 2023. 

In March this year, the FBI disclosed that it got a hold of Anonymous Sudan’s flagship DDoS tool which it has used to carry out over 35,000 attacks. These attacks align with a pro-Russian agenda and they have successfully disrupted websites and services of major organizations like Microsoft, Twitter, PayPal, and Scandinavian Airlines. 

From Olatunji’s perspective, it’s important to remember how intricately tied Anonymous Sudan’s operations have been more Russian than Sudanese. The group has arguably been involved in issues with Russian geopolitical interests while keeping quiet about Sudan’s civil war and shaping international actors. Many of the group’s TTPs are also reflective of Russian actors.

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FEATURES 

  • Russia is using social media platforms to spread false information about US-funded anti malaria treatments and vaccines, claiming they're ineffective or even harmful.

HEADLINES

  • Binance Executive Gambaryan’s Family Laments Bail Denial, Claims Unlawful Detention in Nigeria for Over 230 Days - Arise TV

  • South African AI Association Calls Out LinkedIn For Using Data Without Consent - Tech Labari 

  • TikTok removed 2.1 million videos in Nigeria in Q2 2024- safety report - Technext 

  • MTN claims top spot in South Africa’s network quality report - IOL

  • Starlink Secures One-Year License in Liberia to Boost Internet Access - Regtech Africa

  • Telcos Criticize Starlink’s Unapproved Internet Subscription Hike - Regtech Africa

  • Mali Temporarily Lifts Starlink Ban for 6 Months to Develop New Regulatory Framework - Regtech Africa

  • ICASA Partners with Key Regulators to Strengthen South Africa’s Digital Regulatory Framework - Regtech Africa

  • Nigeria’s Central Bank Urges Banks to Prioritize Cybersecurity Investments - Regtech Africa

  • Kenya to Leverage AI and Machine Learning for Tax Evasion Detection - Regtech Africa

  • Vertiv Launches Modular Integrated Data Center in Kenya - IT News Africa

  • Nigeria Setting Pace in Fight Against Cybercrime in Africa - Arise TV

  • Fight against cybercrime: Mauritanian police announce the creation of a specialized unit - Africa Cybersecurity Magazine 

  • South Africa and Cyberattacks: Are We Ready? - IOL

ACROSS THE WORLD 

OPPORTUNITIES 

2024 NITDA Cybersecurity Training Programme | Nigeria | Deadline: October 22, 2024

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