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CBN’s cyber deception solution yielded results, says official

By Innocent Anoruo
13 August 2022   |   4:02 am
Head of Security Operations Centre at the Central Bank of Nigeria (CBN), Ifeanyi Muonagor, has said that the bank’s deployment of cyber deception solution in 2017 yielded positive results.

CBN

Head of Security Operations Centre at the Central Bank of Nigeria (CBN), Ifeanyi Muonagor, has said that the bank’s deployment of cyber deception solution in 2017 yielded positive results.
  
Speaking virtually at an event in Lagos with the theme, ‘Importance of Deception Technology and Identity Security,’ Muonagor said 80 per cent of system breaches were being linked to compromised credentials.

The event was organised by a Nigerian tech firm, InfoData Professional Services, in collaboration with Attivo Networks. 

According to Muonagor, cyber attack was so easy to conduct, making it hell for security personnel to deal with all the various incidents coming through with security protection mechanism that have not been foolproof.
  
“But with deception solution, it helps the security professional to gain the knowledge of what the attacker was coming to do. In 2017, we (CBN) identified the need for cyber deception technology and we moved with a particular solution.

I will not mention names because I am not campaigning for any particular vendor. But we found out that there were fewer activities because of the deployment model,” he said. 
  
In his presentation, a cyber security expert and Lead System Engineer at Attivo Networks, Osama Al-Shatnawi, said cyber attacks do more damage than conventional warfare.

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