Brand Times

Top Menu

  • Home
  • Advert Rates
  • Contact us
  • About us
  • Download Magazine

Main Menu

  • Home
  • Brand News
    • What’s New
    • Campaign
    • CSR
  • Business
  • Technology
  • Insights
  • Industry
    • Autobrands
    • Energy
  • Special Report
  • LifeStyle
    • Health
    • Sports
    • Food
    • Movies
    • Music
  • Home
  • Advert Rates
  • Contact us
  • About us
  • Download Magazine

logo

Header Banner

Brand Times

  • Home
  • Brand News
    • What’s New
    • Campaign
    • CSR
  • Business
  • Technology
  • Insights
  • Industry
    • Autobrands
    • Energy
  • Special Report
  • LifeStyle
    • Health
    • Sports
    • Food
    • Movies
    • Music
Insights
Home›Insights›37% of Users in Nigeria Lost Money from an Incident Involving Digital Payments- Kaspersky Survey Reveals

37% of Users in Nigeria Lost Money from an Incident Involving Digital Payments- Kaspersky Survey Reveals

By Brand Times
April 24, 2023
273
0
Share:
Facebook0Tweet0Pin0LinkedIn0

Kaspersky Digital Payment survey, 37% of respondents from Nigeria experienced financial losses associated with threats when using online banking and mobile wallet services. The majority of users (97%) lost up to USD $1,000 equivalent as a result of these incidents, while 3% of the respondents reported a loss of more than USD $1,000 equivalent.

According to the Kaspersky Security Network, 161,272 financial threats were blocked in Nigeria by Kaspersky in 2022. These attacks were aimed at stealing financial information such as credit card numbers and login credentials and usually rely on social engineering tactics to lure victims.

However, the impact of a cyber threat targeting digital payments does not just impose a financial burden on consumers, but also affects them psychologically. For example, 60% of respondents from Nigeria said that they were very anxious about getting their money back. 43% of users reported that they have less trust in digital payment providers. 80% also stated that they became more vigilant after experiencing a cyber incident, and 65% installed security solutions like an antivirus on their infected devices.

“Since the beginning of the pandemic, 64% of users in Nigeria faced at least one incident when using digital payments. That’s why it’s increasingly important to know how to interact securely with any emerging technologies, including online banking and mobile wallet services. And all stakeholders, like government, digital payment providers, users and even cybersecurity companies need to come together to create a sustainable and secure payment ecosystem,” said Emad Haffar, Head of technical experts at Kaspersky.

To help users embrace digital payment technologies securely, Kaspersky experts suggest the following:

Do not share your PIN, password or any other financial information with anyone online or offline.

Avoid using public Wi-Fi to make any online transactions.

Use a separate credit or debit card to make online transactions. Set a spending limit on the card which can help keep a track of financial transactions.

Shop from trusted and official websites.

Use a reliable security solution such as Kaspersky Premium (https://apo-opa.info/3EQxD1D) on all your devices which are used for financial transactions. It helps to detect fraudulent or suspicious activity and check the security of visited websites.

For developers, banks and companies involved in providing digital payment services, Kaspersky recommends:

Invest in holistic cybersecurity solutions that can help detect fraud across multiple levels of online payment processes and consumer touchpoints.

Complex attacks by APT groups on financial institutions are also on a rise. In-depth visibility and threat intelligence are a necessity to keep customers protected and to ensure business continuity. Using the Kaspersky Threat Intelligence (https://apo-opa.info/43V1DnQ) service is helpful to support your IT teams in analysing and mitigating threats.

Conduct cyber awareness training for employees continuously. This will help employees know the red flags to look for when an organisation is under attack and to understand their role in protecting the organisation.

Facebook0Tweet0Pin0LinkedIn0
Tagsdigital paymentsKasperskysurvey
Previous Article

Turu Ugo Lota 2.0: Life Beer Reiterates ...

Next Article

McEnies CEO Shares Insights on Winning Strategy ...

Share:

Related articles More from author

  • Technology

    Kaspersky Experts Give Insight On Cybercrime in 2021

    January 13, 2021
    By Brand Times
  • Insights

    Platform economy of the future is the pathway that will drive growth and jobs across Africa

    October 11, 2017
    By Brand Times
  • Technology

    Kaspersky Provides More Protection for Nigerian Users With Its New Security Solution

    October 10, 2016
    By Brand Times
  • Technology

    Kaspersky Uncovers New Mobile APT Campaign Targeting iOS Devices

    June 2, 2023
    By Brand Times
  • Special Report

    Is your Work From Home Office Harming Your Health?

    January 29, 2022
    By Brand Times
  • Technology

    Over a third of banking malware attacks in 2019 targeted corporate users- Kaspersky Reveals

    April 17, 2020
    By Brand Times

Leave a reply Cancel reply

  • Special Report

    Gemalto Global Study Reveals Security Concerns over Convergence of Personal and Workplace Identities

  • Brand News

    Communication Professionals To Present Research Report On Nigeria’s 2015 Presidential Election

  • Brand NewsWhat's New

    Alpha Mead Raises $1m to Kickstart Rent4Less

Brand Times Magazine

Recent Posts

  • Nigeria International Gospel Music Awards 2023 Calls for Entries September 23, 2023
  • Dentsu Creative, dentsu X Win Creative, Media Awards September 23, 2023
  • YouTube Unveils New Generative AI Products to Enable Creators Reach More Viewers September 22, 2023
  • Lagos NIPR Reelects Nwankwo as Chairman, Unveils Bold Initiatives September 22, 2023
  • Slice Media Boss to Deliver Keynote Address at Legislative Workshop September 22, 2023

Recent Posts

  • Nigeria International Gospel Music Awards 2023 Calls for Entries September 23, 2023
  • Dentsu Creative, dentsu X Win Creative, Media Awards September 23, 2023
  • YouTube Unveils New Generative AI Products to Enable Creators Reach More Viewers September 22, 2023
  • Lagos NIPR Reelects Nwankwo as Chairman, Unveils Bold Initiatives September 22, 2023
  • Slice Media Boss to Deliver Keynote Address at Legislative Workshop September 22, 2023

About us

Brand Times Official Logo

Brandtimes is the number one platform for latest brand news. Brandtimes showcase all the happenings in the brand world. The present, the past and the future are all about time, Brand Times takes the world on a journey of fun, education, information and exclusive brand news.

Follow us