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50m Accounts Affected by Security Breach – Facebook

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Facebook mobile users
  • 50m Accounts Affected by Security Breach – Facebook

Mr Guy Rosen, the Vice President, Product Management of Facebook says 50 million Facebook accounts are been affected by security issue.

Rosen said in a statement on Friday, that in the afternoon of Tuesday, September 25, Facebook’s engineering team discovered a security issue affecting almost 50 million accounts.

He said that the company was taking the issue seriously and wanted to let everyone know what happened, and the immediate action taken to protect people’s security.

According to him, investigation is still in its early stages.

”But it is clear that attackers exploited a vulnerability in Facebook’s code that impacted ”View As”, a feature that lets people see what their own profile looks like to someone else.

”This allowed them to steal Facebook access tokens, which they could then use to take over people’s accounts.

”Access tokens are the equivalent of digital keys that keep people logged in to Facebook, so they don’t need to re-enter their password every time they use the app,” he said.

The vice president said that Facebook had already fixed the vulnerability and informed law enforcement.

He said that the company had reset the access tokens of the almost 50 million accounts in order to protect their security.

Rosen said that Facebook had also taken precautionary step of resetting access tokens for another 40 million accounts that had been subject to a ”View As” look-up in the last year.

He said that as a result, around 90 million people would now have to log back into Facebook, or any of their apps that use Facebook Login.

According to him, After they have logged back in, people will get a notification at the top of their News Feed explaining what happened.

”We are temporarily turning off the ”View As” feature, while we conduct a thorough security review.

”This attack exploited the complex interaction of multiple issues in our code. It stemmed from a change we made to our video uploading feature in July 2017, which impacted ”View As”.

”The attackers not only needed to find this vulnerability and use it to get an access token, they then had to pivot from that account to others to steal more tokens.

”Since we have only just started our investigation, we have yet to determine whether these accounts were misused or any information accessed,” he said.

Rosen said that the company does not know those behind these attacks or where they were based.

He said that Facebook was working hard to better understand these details and would give update when it had more information, or if the facts changed.

The vice president said that if the company found more affected accounts, it would immediately reset their access tokens.

”People’s privacy and security is incredibly important, and we are sorry this happened.

”It is why we have taken immediate action to secure these accounts and let users know what happened.

”There is no need for anyone to change their passwords. But people who are having trouble logging back into Facebook — for example because they have forgotten their password — should visit our Help Center.

”And if anyone wants to take the precautionary action of logging out of Facebook, they should visit the ”Security and Login” section in settings,” he said.

(NAN)

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial market.

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Ecobank Upgrades Mobile App, Launches Cardless Withdrawal Service

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ATM at lagos

Ecobank Launches Cardless Withdrawal Service

In a move to reach the over 100 million unbanked Nigerians and Africans, Ecobank has launched a cardless withdrawal service to allow a large number of people outside the banking sector access bank services.

According to the bank, its mobile application was upgraded to an all-in-one bank account and payment/cash withdrawal tool.

In the statement released on social media, the lender said its ‘Xpress Cash’ functionality allows customers to access their cash ‘cardless’ at any Ecobank Automated Teller Machine (ATM) using only their mobile phone.

Customers can access cash via e-Token generated from their Ecobank mobile application, according to the bank. The innovation is seamless, secure and reliable.

The bank explained that the e-token can also be redeemed at any of its numerous agent locations across the country.

Speaking on the innovation, Ade Ayeyemi, the Chief Executive Officer (CEO), Ecobank, said “Innovating for customer convenience is in our DNA at Ecobank.

He added: “We have developed this fast, convenient and innovative mobile banking solution – cardless Xpress Cash at our ATMs and Agencies to embed our digital platforms within the lifestyle of our customers and improve the uptake of digital financial solutions by both banked and unbanked in Africa.

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9mobile Joins MTN, Launches E-Sim Service 

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9mobile

9mobile Launches E-Sim Service

Nigeria’s mobile network operators have joined the rest of the world in launching E-Sim, an embedded sim.

In July, MTN Nigeria set the ball rolling with the launching of its E-Sim trial. This was followed by 9mobile that launched its E-Sim earlier this month.

E-Sim is a form of an in-built sim that is embedded directly into a device without using a physical Sim.

Speaking on the new E-Sim, the Acting Director of Marketing, 9mobile, Layi Onafowokan, described the latest move as the most excellent experience that advanced technology provides.

According to him, the E-Sim is an in-built sim embedded in mobile devices in order to reduce the possibility of losing or damaging sim and eliminate the stress of dealing with the cutting of sim cards or finding adaptors.

It also enables multiple usage and adaptation of one subscriber profile across a broad range of mobile communication devices, internet of things (IoT) and artificial intelligence (AI) apps including smart commuting, metering, tracking, and surveillance, rather than the restricted single-device use of the conventional SIM card.

Onafowokan said: “Customers can walk into any of our select 9mobile Experience Centres to request E-Sim activation. A QR code will be provided to scan and download E-Sim profile and perform the usual SIM registration.

He added that customers that activate E-Sim service will enjoy up to 7GB data-free while those who want to change to E-Sim will only do a SIM swap at approved centres.

E-Sim is compatible with Google Device like Pixel 3, 3 XL, 4, and Pixel 4 XL. Apple Device like Iphone 11, 11 Pro, 11 Pro Max, Xs, Xs Max and Iphone XR. Samsung S20 Series.

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Financial Institutions Owe Telecoms Over N17b in Unpaid USSD Service -NCC

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Telecoms

Banks Owe Telecommunication Companies Over N17b in Unpaid USSD Service

The Nigerian Communications Commission (NCC) has said financial institutions offering Unstructured Supplementary Service Data (USSD) service owe telecommunication companies over N17 billion.

Prof. Umar Danbatta, the Executive Vice Chairman, NCC, disclosed this on Thursday at a virtual forum organised by the Association of Licensed Telecommunications Operators of Nigeria (ALTON).

In the forum titled ‘Meeting the interests of government, consumers and telecoms companies in the era of Covid-19 and post COVID-19 pandemic for digital economy development’, Danbatta said the debt accumulated after the commission suspended its determination on USSD pricing in 2019.

However, the Chairman said in order to protect the interest of consumers and support the growing telecommunications sector, the commission has decided to revise the 2019 determination on USSD.

Speaking on the suspension of end-user billings Dr. Isa Pantami, the Minister of Communications and Digital Economy, said the decision was to ease customers’ burden and ensure justice across the board.

He said, “USSD is a service to banks and not telecoms consumers, and as such, banks should see themselves as corporate customers of telecoms operators with a duty to pay for using the telecoms networks and infrastructure, including USSD channels extended to them for service delivery to their customers.

According to him, “Mobile Network Operators (MNOs) have no direct relationship with bank customers, and cannot therefore charge directly for usage of USSD channel,” he explained.

The NCC, therefore, asked Mobile Network Operators (MNOs) and financial institutions offering USSD service to reach an agreement on a rate that works for both parties.

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