Technological Security Challenges In A Developing Economy

CHAPTER ONE

1.0                                                       INTRODUCTION

1.1                                         BACKGROUND OF THE STUDY

One of the technological challenge of developing country such as Nigeria is poor information technology infrastructure. Information and Communication Technology (ICT) has assumed a critical role in facilitating technological development in many countries. Some countries have taken advantage of the effectiveness and productivity of cyberspace and are in the process of transforming their economies into an information and knowledge based economy. In developing world, ICT is a key component in improving the quality of life and participation in global economic activities.

However, these benefits are being challenged by the increasing sophisticated cyber threats where there is no global consensus on how to regulate cyberspace. Although most developed countries have in place comprehensive ICT and Cyber security policies and plans or are at an advanced stage of implementing them, developing countries are short of the capabilities and infrastructure when it comes to cyber security countermeasures. Most hardware and software products used in the developing world are developed in the western world and without proper measures on how to secure these products, these countries are vulnerable to cyber exploitation due to inherent vulnerabilities on these products.

Cyber security is anyone business and we cannot afford to ignore the growing number of cyber threats. We live in an interconnected world and an attack to one nation could spread to other nations. While we enjoy these technologies they also create vulnerabilities to cyber-­‐based threats. These threats arise from a wide array of sources, from business competitors, corrupt employees, criminal groups, hackers and foreign nations engaged in espionage and information warfare. Their sources vary in terms of capabilities of the actors, their willingness to act, and their motives, which can include monetary gain or political advantage among other. Last year, 5 alleged hackers were charged in the largest cybercrime credit scheme in U.S. history. The Russian and Ukrainian national are believed to have hacked 160 million credit card numbers which facilitated them to steal hundreds of millions of dollars. Other hackvist groups like Anonymous are people who are willing to launch attacks on government, religious, and corporate websites. Anonymous were earlier supporters of the global Occupy movement and the Arab Spring. Last year a group calling themselves Anonymous Africa hacked the Zimbabwe’s defence, and targeted South Africa’s ruling party African National Congress (ANC).

Attack on individual personal data and businesses Intellectual Property could result in identity theft, lower quality counterfeit goods, lost sales or brand name value to businesses and this in return could lower overall economic growth and declining international trade.

According to ITU ICT facts and figures, by 2014, 55% Mobile-­‐broadband subscription are expected to be in the developing world, compared with only 20% in 2008 (ITU Website). ICT dependency in developing nations creates favourable condition for cyber criminals due to poorly secured networks, lack of cyber laws and shortage of ICT security skills. Research studies and surveys show that most computers in these nations are vulnerable and IT security awareness is below any reasonable threshold. In developing world especially most African countries, cyber security is at its earliest stages and very few countries have Computer Incident Response Team (CIRT). There is an urgent need to create a cyber security ecosystems to mesh together these elements to ensure a safer cyberspace.

While developing nations recognize the need for cyber security, many would argue that they have more pressing issues like HIV/AIDs or poverty to tackle. On the other hand if these issues are not addressed these nations could miss out on the economic benefits. Learning from the lessons of the past decade, not acting now could create a digital divide between the rich and poor countries. A global consensus is urgently needed to come up with visible plans for funding and Public-­‐Private-­‐Partnership with enterprises to reach fast growth of the network and the bandwidth, as well as the security level.

Cyber Security is an important part of our life today. The fact that we have interconnectivity of networks means that anything and everything can be exposed. Our critical infrastructure can be violated. Developed countries lacks well-­‐trained cybersecurity experts.  Level of understanding and education in cybersecurity issues among law enforcements agents, judiciary are not up to the standard. Developed world could help train experts who are home grown in cybersecurity.

1.2      PROBLEM STATEMENT

An increase number of cyberattacks on public and private organizations have been performed by exploiting their technological vulnerabilities. Mainly, these attacks aim to obtain illegal profits by extorting organizations, affecting their reputation and normal operation. In order to minimize the impact of these attacks, it is essential that these organizations not only implement preventive actions and efficient security mechanisms, but also continually evaluate the security risks their staff are exposed to when performing their job tasks.

1.3      OBJECTIVES OF THE STUDY

The objectives of this study are:
i.  To assess technological security challenges in a developing economy

1. To study the impact of cyberattack in developing economy

iii. To ascertain the security procedures and risk awareness of cyber attack

1. To provides learners with a baseline understanding of common cyber security threats, vulnerabilities, and risks
2. To help people reduce the vulnerability of their Information and Communication Technology (ICT) systems and networks.
3. To help individuals and institutions develop and nurture a culture of cyber security.

vii. To help understand the current trends in IT/cybercrime, and develop effective solutions.

2. Integrity, which may   include authenticity and non-repudiation

1.4                                                PURPOSE OF THE STUDY

The purpose of this study is to study about technological security challenges thereby creating means of preventing data breaches, identity theft and cyber-attacks as well as risk management in some cases. When an enterprise applies an effective incident response plan and has a strong network security, it is better positioned to mitigate and prevent cyber-attacks. For instance, end user protection guards against theft or loss of information while scanning computer devices for malicious codes. In light of this, organizations and the cyber-security stakeholders must remain up-to-date with the emerging technologies, threat and security intelligence trends in order to design the ideal cyber-security measures.

1.5                                            BENEFIT OF CYBER SECURITY

This helps to ensure that all internet connected assets and information are secured from cyber-threats that take many forms such as;

Ransomware: it is deployed by an attacker in the form of a malware that locks a target’s computer system and files through encryption. The attacker demands a lump sum payment in order to decrypt and unlock the computer systems and files.

Malware: this is any program or file that is deployed with the aim of harming a computer user like; computer virus, worms, spyware and Trojan horses.

Social engineering: this is a new form of cyber-attack that is executed through tricking system users into breaching security procedures to grant the attackers access to sensitive and private business information that is protected.

Phishing: this is a type of cyber fraud that entails sending out fraudulent emails that bear a resemblance to emails from reputable sources. However, the fraudulent emails are designed to steal sensitive user information such as login information and credit card details.

Evidently, upholding cyber-security requires coordination of security efforts within an entire information system that includes; network security, application security, information security, end-user education, operational security and disaster recovery. The major cyber-security challenge is the ever evolving nature of security threats and risks. The traditional cyber-security approach focuses on core system components and preventing the known threats. Meaning that, some of the security components are left undefended and the systems are not fully protected against risks that are deemed to be less dangerous. Fortunately, this is gradually changing as companies and security stakeholders invest more resources on improving cyber security technologies and services.

1.6                             SIGNIFICANCE OF THE STUDY

This study is useful and necessary since it helps the reader to know and be aware of cyber attack and thereby providing a means of securing data from threats.

CONCLUSION AND RECOMMENDATION

This study will be helpful for my readers to improve their knowledge about cyber security and to overcome several security loopholes on their computer operation. Also it helps to spread awareness among normal people about emerging security threats.

As the general population becomes increasingly refined in their understanding and use of computers and as the technologies associated with computing become more powerful, there is a strong possibility that cyber-crimes will become more common. Nigeria is rated as one of the countries with the highest levels of e- crime activities. Cyber security must be addressed seriously as it is affecting the image of the country in the outside world. A combination of sound technical measures tailored to the origin of Spam (the sending ends) in conjunction with legal deterrents will be a good start in the war against cyber criminals. Information attacks can be launched by anyone, from anywhere. The attackers can operate without detection for years and can remain hidden from any counter measures”. This indeed emphasizes the need for the government security agencies to note that there is need to keep up with technological and security advancements. It will always be a losing battle if security professionals are miles behind the cyber criminals. Fighting cybercrime requires a holistic approach to combat this menace in all ramifications. There is need to create a security-aware culture involving the public, the ISPs, cybercafés, government, security agencies and internet users. Also in terms of strategy, it is crucial to thoroughly address issues relating to enforcement. Mishandling of enforcement can backfire.