Bad to worse for Travelex as it faces aggressive ransomware attack

The cyber hacking saga at Travelex continues as media reports now suggest the international foreign currency dealer has fallen prey to a ransomware attack with a group called Sodinokibi claiming responsibility for the incident and demanding a US$6 million payment to restore systems.

It is not clear whether Travelex is considering paying any amount of ransom in order to gain back control of its data and systems. Security experts typically advise that victims not pay ransoms to threat actors

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Travelex hit by New Year’s Eve cyber attack

Travelex, the international foreign currency seller suffered a software virus attack on New Year’s Eve and has been forced to take down its website as a result of the incident. The company has resorted to carrying out transactions manually, providing foreign exchange services over the counter in its branches.

Significant fines can be levied by regulators in Europe on companies viewed as not having sufficient cyber security postures in place in line with the General Data Protection Regulation

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Nhleko steps back as MTN Group chairman

Phuthuma Nhleko, the MTN Group CEO who led the company on an acquisition trail that turned it into an emerging markets powerhouse, has stepped down from its board of directors. Nhleko, who has served as MTN’s chairman since 2015 after relinquishing the CEO role in 2011, resigned this week as non-executive chairman.

Nhleko briefly returned to executive leadership of the group following the exit of former CEO Sifiso Dabengwa, to deal with the fallout from a US$5.2 billion regulatory fine in Nigeria

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Service operators search for revenue boost to match geographic expansion of 5G

Ericsson expects the global number of 5G subscriptions to top 2.6 billion within the next six years, according to its November 2019 edition of the Ericson Mobility Report.

Operators such as Zain Group are hard at work trying to drive 5G economies of scale, having recently announced that its flagship operation in Kuwait had introduced commercial 5G roaming with its counterpart in Saudi Arabia

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Securing “The World’s Greatest Show”

I was recently visiting London and came away surprised by just how far the awareness-raising campaign for Expo 2020 has broken through internationally. Billboards and prime-time television commercial spots communicated the virtues of the upcoming “world’s greatest show,” which at fewer than 50 weeks away, is fast becoming a reality.  

EY forecasts Expo will boost the UAE’s economy by AED 122.6 billion (US$ 33.4 billion) and support 905,200 job-years between 2013 and 2031

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News

Saudi Arabia to double the number of MVNOs with the offer of two new licenses

Saudi Arabia’s Communications and Information Technology Commission (CITC) has tendered two new mobile virtual network operator (MVNO) licenses, which “will likely boost investment opportunities in the telecom industry, support entrepreneurship and enhance the content industry as well as service diversification,” CITC Governor, Mohammed Altamimi is quoted as saying.

Orange inaugurates regional head office in Casablanca

Orange has officially inaugurated its new Middle East and Africa (MEA) operational head office in Casablanca, Morocco from where it will direct activities across its 18 countries of presence in the region. The operator counted a total of 125 million customers in the MEA as of October 30, 2019.

DIFC receives cyber threat intelligence platform

The Dubai Financial Services Authority (DFSA) has announced plans to launch a cyber threat intelligence platform to help firms in the Dubai International Financial Centre (DIFC) implement appropriate safeguards to mitigate cyber risks. The platform is the result of cooperation and collaboration with the Dubai Electronic Security Centre (DESC), the National Computer Emergency Response Team […]

STC refreshes brand across Saudi, Kuwait and Bahrain

Saudi Arabia telco STC has launched a new unified brand identity across Saudi Arabia, Kuwait, and Bahrain to enhance its performance and role as a leading digital enabler in the region. The telco was established in 1998, and its refreshed brand identity marks a transformational new journey in digital services as the telco moves into […]

MTN to resurrect mobile money in January

MTN Group’s mobile money service is set to go live in January 2020 in South Africa, allowing customers to send, receive, save money and pay for goods using their mobile phones.

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