Stanbic IBTC Marks Cybersecurity Awareness Month, Says A Collective Responsibility

The management of Stanbic IBTC Holdings Plc has urged the public to see cyberspace security as a collective responsibility, which is why it constantly shares tips with customers to identify and avoid possible online scams.

The warning, according to Abumere Igboa, Chief Information Security Officer of the group, follows the popularity of online banking, with cybercrime growing alongside, especially the outbreak of the Coronavirus (Covid-19) pandemic across the globe.

Speaking at a cybersecurity webinar organised to commemorate Global Cybersecurity Awareness Month with the theme “See Yourself in Cyber,” recently, he urged online users to adopt “basic cyber hygiene practices such as updating their apps to the latest version and clicking links from trusted sources only.

Annually, Global Cybersecurity Awareness Month holds every October to build resilience against cyber threats and create awareness about the dangers posed by various cyber criminals to individuals and businesses.

This year’s campaign draws attention to the importance of being responsible for one’s security in cyberspace, especially coming after a recent study by Cybersecurity Ventures predicts that cybercrime globally cost will an estimated $10.5tr yearly in damages by 2025.

This projection, the organisers said in a statement, necessitates individuals to take action to stay safe online, organisations to have a robust cyber workforce, and the government to make policies that safeguard internet users and their data.

According to Igboa, “we also advise internet users to have good strong passwords or use a trusted password manager and enable multi-factor authentication on all sensitive accounts” he added.

The warning, he continued, has become necessary, because Stanbic IBTC prioritises the safety of its customers and ensures the security of its digital platforms with innovative technology to detect, monitor and stop online threats during financial transactions.

“Staying safe and secure online is a shared responsibility that begins with you and me. We collaboratively must support and remain committed to Cybersecurity. Should you notice any suspicious activity on your online platforms, don’t delay – act promptly and reach out to our 24/7 customer support centre,” he advised.

Also speaking at the virtual event, Confidence Staveley, Founder, Cybersecurity Foundation, listed the possible threats combating internet users and how cybercriminals take advantage of the vulnerabilities of their victims.

She also agreed that it is a shared responsibility among all stakeholders to ensure safety during online activities, stressing that in the cyber world, “every individual has a role to play in being knowledgeable about the way hackers operate. Cybercriminals are taking proactive measures to switch from hacking technologies to hacking humans with a deception tool. Therefore, customers must remember that Stanbic IBTC would never request for your account details.”

Cybercriminals, she added, “rely on manipulating the emotions of their victims to make irrational decisions that put them at risk. Customers must remain logical when they notice mails and SMS prompting them to release their details.”