Endpoint security threats have become more frequent across West Africa, with cybercriminals targeting laptops, mobile devices, and servers to gain entry to crucial data and systems. Attackers exploit weaknesses within an organization’s network in an increasingly sophisticated fashion that makes protection difficult for businesses.

Financial services industries are particularly susceptible to cyber attacks, with cybercriminals seeking to exploit weaknesses in security systems to access sensitive data and funds. West African industry remains undeveloped; therefore, there may not be as much education or resources dedicated to cybersecurity threat prevention, detection and response; and therefore, infiltration is often easier for cybercriminals than elsewhere in the more developed countries of the world.

Below are the most prevalent endpoint security risks facing financial services organizations in West Africa:

Malware Attacks

Malware has emerged as a key threat facing financial services organizations in West Africa. Cybercriminals use malware attacks as one method for accessing sensitive data and systems – sometimes by duping employees into clicking malicious links and attachments that then spread throughout an organization, potentially leading to catastrophic results.

Ransomware Attacks

Ransomware attacks are designed to hold an organization’s data or systems hostage until a ransom payment has been received from cybercriminals, often through sophisticated encryption technologies designed by criminals that render data inaccessible without paying up the ransom demand. Such attacks can have devastating repercussions for financial services firms that rely heavily on data and systems for operation.

Phishing Attacks

Phishing attacks are designed to trick employees into giving away sensitive data such as passwords or login credentials unknowingly and willingly, including bank information or government credentials that appear trustworthy. Cybercriminals then use this data to gain entry to their network and steal sensitive data.

Insider Threats

Insider threats are one of the more difficult endpoint security risks to detect and prevent, since attacks carried out by individuals who possess legitimate access to an organization’s systems or data – such as employees or contractors – are extremely hard to spot and defend against. By exploiting their access, insider threats could gain entry to steal information or cause irreparable harm to an enterprise’s network infrastructure.

Financial services organizations in West Africa must implement stringent endpoint security measures to counter threats such as these. This involves installing antivirus/antimalware software, installing firewalls/intrusion prevention systems, and providing cybersecurity education and training for employees.

Prometheus SHIELD MDR provides managed detection and response service designed to assist financial services organizations in West Africa protect themselves against threats. Our team of security specialists will collaborate closely with your organization in identifying any possible vulnerabilities and create a customized security plan tailored specifically towards meeting your unique requirements.

As is evident by these incidents, endpoint security threats continue to pose a great challenge to West African financial services organizations. With cybercriminals becoming more sophisticated in their attacks against networks and data systems, organizations need effective security measures in place to thwart cyberattacks and protect networks and data systems effectively. At Global Secure Solutions we specialize in protecting organizations against endpoint attacks – contact us now to discover more! We look forward to protecting you!