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By Juliet Umeh

Cybervergent, a provider of automated cybersecurity solutions, has issued a stark warning to financial institutions across Africa, urging heightened vigilance and proactive measures to mitigate potential escalating risks.

The warning came as its latest quarterly brief revealed a significant increase in attacks utilizing the Remcos Remote Access Trojan, RAT, in the first quarter of 2024.

Remcos, once marketed as legitimate software, has become a weapon of choice for cybercriminals.

This insidious malware grants attackers a hidden backdoor into victims’ devices, enabling them to steal sensitive data, hijack systems, and establish persistent footholds. Its capabilities extend to disabling security measures and recording user activity, making it a highly versatile and dangerous threat.

Chief Solutions Officer at Cybervergent, Gbolabo Awelewa said: “We have observed a disturbing surge in Remcos RAT attacks, with financial institutions as prime targets due to their valuable data. Organizations must be proactive in their defense.”

The company noted that its cyber operations centre tackles this challenge through meticulous threat analysis. Awelewa said: “We continuously analyze attacker tactics to stay ahead of evolving threats. Our threat intelligence is constantly updated to identify and neutralize the latest threats like Remcos and we deploy robust endpoint security solutions designed to detect, prevent, and eliminate RATs.

“Our mission is to empower clients to operate seamlessly and securely. By proactively addressing emerging threats, we enable businesses to safeguard their assets.”

Looking ahead, CEO of Cybervergent, Adetokunbo Omotosho reiterates the company’s commitment to empowering organizations.

Omotosho said: “Our Assurance and Compliance Team is a leader in the cybersecurity domain, delivering transformative solutions,” he states. ”

We are committed to advancing cybersecurity compliance and building a secure digital future for Africa and beyond.”

He advised: “Don’t become victims of Remcos RAT attacks, contact Cybervergent to learn how our automated cybersecurity solutions can protect your organization.”

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