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Over 100 Million Malware Infections Detected on Windows in 2020

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Cyber Security - Investors King

Malware, a malicious software designed to disrupt, damage, or gain unauthorized access to a computer system, is one of the most common cyber threats computer users face today. While malware can affect any operating system, Windows users are among the most vulnerable.

According to the data analyzed by the Atlas VPN team and based on the State of Malware report by Malwarebytes, in 2020 alone, devices with Windows operating systems were affected by over 111 million malware infections.

Out of all of the Windows malware threats detected last year, 83% or nearly 92.3 million were found on consumer devices, while 15% or 16.7 million were discovered on business devices. The remaining 2% of the malware cases were unspecified.

Despite the impressive number of Windows malware detections in 2020, such threats actually dropped by 12% compared to 2019.

Malware infections affecting consumer devices fell by 11%, from 103.5 million in 2019 to 92.3 million in 2020. As workers traded their corporate offices for home ones, business device infections decreased by 24%, from 22 million in 2019 to 16.7 million in 2020.

The decline in malware infections might signify that cybercriminals have found other more effective methods to exploit victims online.

HackTool is the fastest rising malware threat

In 2020, we saw a fall in malware infections affecting Windows operating systems. However, despite a general decline, certain types of malware thrived last year.

HackTool, a type of malware used by hackers to gain unauthorized access to a user’s computer, saw the biggest increase in new cases detected on Windows last year when compared to 2019. Infections with HackTool spiked by 150%, from 7.4 million to 18.4 million in a single year.

Businesses experienced the most significant rise in HackTool detections last year. In total, 2.6 million Windows HackTool infections were found on business devices in 2020 — a 173% growth from 937.9 thousand cases in 2019.

In the meantime, consumer devices were affected by 15.9 million HackTool infections last year. It represents a 147% growth from 6.4 million such cases in 2019.

Other malware types that saw a surge last year include Rogue (117%) and Spyware (28%), which help criminals track and collect information on the victim.

However, the most common Windows malware threat last year was adware —  software that displays unwanted advertisements on people’s computers. It accounted for 32% or 35.5 million Windows malware cases in 2020, a 22% drop from 45.7 million in 2019.

Windows adware threats were the most prevalent on consumer devices, where 31.5 million adware infections were recorded last year. Simultaneously, businesses had close to 4 million infections with adware malware in 2020.

Trojan malware, which disguises itself as legitimate software and helps hackers take control of the infected computer, also continued to plague Windows operating systems in 2020.

In total, 29.9 million Trojan infections were detected on devices running Windows, which made up 27% of all such infections last year. However, compared to 2019, when 38.5 million Trojan cases were discovered, Trojan infections dropped by nearly 23%.

While 23.7 million Trojan infections affected consumers, 6.1 million infections targeted businesses. In fact, Trojan was the most common malware threat faced by businesses last year.

How to guard against malware

Malware is one of the most common threats. As such, it is easy to catch, while its repercussions can be devastating. However, there are a few things you can do that can help you protect your devices from malware.

  1. Keep your software up to date. Updated software contains all the latest security patches making it harder for cybercriminals to exploit system vulnerabilities.
  2. Be careful about your downloads. Downloads are one of the main ways to spread malware. Therefore, before pulling a file from the internet, always ask yourself two questions: do you really need it, and do you trust the website or the person you are about to download the file from.
  3. Do not click on suspicious links. Never click on pop-ups and links you are unsure of. They may lead to malicious websites that can install malware on your device.
  4. Limit file-sharing. Be wary of file sharing sites as they offer little protection against malware, which might be hiding in files, such as movies, games, and other programs.
  5. Use a VPN. Virtual private networks, such as Atlas VPN, have security features in place that block malicious ads and protect you from entering unsafe websites. This way, you have less chance of cashing unwanted viruses while online.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood

Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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