Combating cyberthreats in Africa

As digital transformation continues to revolutionize various sectors, the landscape of cybersecurity is also rapidly evolving. The year 2025 has brought about advanced cyber threats, from AI-powered attacks to the alarming increase in scams like Authorised Push Payment fraud. To delve into the latest trends and outlook in cybersecurity, Rob Woods, Fraud and Identity Director at LexisNexis Risk Solutions, joined CNBC Africa for an insightful discussion. Rob Woods highlighted two major cyber threats facing businesses and consumers in 2025: account takeover fraud and scams such as Authorised Push Payment fraud. These scams come in various forms, including romance scams, purchase scams, and impersonation, with the latter being quite prevalent. Woods emphasized the importance of different strategies for organizations and consumers to combat these threats effectively. The rise of scams and account takeovers can be attributed to the digital innovation that enables instant payments and transactions. With the convenience of on-demand services, consumers are more vulnerable to cyber threats as fraudsters exploit their trust and personal information. In the era of digital transactions, safeguards need to be implemented to protect users from becoming victims of fraudulent activities. When it comes to defending against socially engineered attacks, Woods highlighted the significance of incorporating deep fake detection and digital intelligence into organizational security protocols. Additionally, consumer-facing measures like confirmation of payee can help users verify the legitimacy of transactions and beneficiaries, thus preventing fraudulent payments. Enhanced authentication methods and ongoing education and awareness campaigns are crucial in bolstering cybersecurity defenses. The utilization of generative AI by cybercriminals poses a significant challenge in launching sophisticated attacks, particularly in romance scams where fraudsters conceal their true identities. On the other hand, AI can be harnessed for improving threat detection and response times by analyzing vast amounts of data to verify individuals' identities and potential coercion attempts. Despite the ongoing technological arms race between fraudsters and cybersecurity professionals, AI remains a valuable tool in safeguarding digital assets. Reflecting on the state of cyber readiness in South African institutions, Woods emphasized the continuous need for preparedness as cyber threats evolve rapidly. He underscored the importance of data sharing among organizations to create a collective defense mechanism against cyber threats. Leveraging platforms that facilitate information exchange on fraudulent activities can enhance the industry's resilience and deter cybercriminals. Moreover, addressing the cybersecurity skills gap in Africa requires collaborative efforts between government entities, regulatory bodies, and private industry players. Woods advocated for tapping into the expertise of private sector organizations to accelerate skill development and knowledge sharing. By fostering collaboration and knowledge transfer, the region can build robust cybersecurity capabilities to mitigate emerging threats. In conclusion, Woods highlighted generative AI as a looming threat that could significantly impact the cybersecurity landscape in the coming years. As fraudsters leverage advanced technologies to perpetrate scams, organizations and individuals must remain vigilant and adaptive in their cybersecurity strategies to counter evolving threats effectively. In a rapidly digitizing world, the fight against cyber threats requires a proactive and collaborative approach that combines technological innovation, data sharing, and continuous education to safeguard digital assets and personal information. The evolving cybersecurity landscape demands constant vigilance and adaptation to stay ahead of cybercriminals.