Monday 20th May 2024

Good morning everyone and thank you for joining me for today’s edition of Cyber Daily. This issue focuses on China’s quantum supercomputer which has the potential of breaking Western cyber defences raises, it's raising alarms. A major hack last year targeting US officials underscores the growing threat. Quantum computing could render current encryption obsolete, prompting urgent calls for enhanced cybersecurity measures.

Britain faces increasing challenges from Russian and Chinese disinformation campaigns. A new report advocates for higher salaries for cybersecurity experts and more funding for agencies like GCHQ. The goal is to counter the sophisticated cyber threats undermining UK democracy.

Nigeria’s proposed cybersecurity levy on bank transactions sparked widespread public outrage. Although suspended, the backlash highlights the financial strain on citizens amid various economic policies. Critics urge the government to focus on recovering looted funds and addressing inefficiencies instead.

China's Quantum Supercomputer Raises Cybersecurity Alarms

Concerns are mounting that China has developed a quantum supercomputer capable of breaking through Western cyber defences. The alarm bells rang after a hack on June 15, 2023, by Chinese group Storm-0558, which stole 60,000 emails from US officials, including Commerce Secretary Gina Raimondo.

In response, Microsoft and US cybersecurity agencies launched an investigation, considering 46 potential hypotheses. Among them was the possibility that the hackers used a quantum computer to crack public-key cryptography, though this was deemed "least likely."

Microsoft attributed the breach to "operational errors," suggesting that key material may have inadvertently left a secure environment. Nevertheless, the incident highlights the growing threat quantum computing poses to current encryption methods.

As cyber attacks escalate, Deputy Prime Minister Oliver Dowden and other officials stress the need for robust defences. The UK recently sanctioned China following cyber attacks on its Electoral Commission, underscoring the global urgency to strengthen cybersecurity against advanced threats.

UK Faces Cybersecurity Threat from Russian and Chinese Disinformation

Britain risks losing the cyber war against Russian and Chinese disinformation unless it enhances its cybersecurity measures, according to a forthcoming government-commissioned report by John Woodcock, formally known as Lord Walney. The report, expected on Tuesday, urges ministers to lift strict salary caps on cybersecurity experts to protect UK democracy.

The report highlights the increasing threat from Russia, particularly under President Vladimir Putin, who is accused of sowing discord in the West through hacks and fake news. Agencies like GCHQ need more funding to combat these threats effectively.

Cabinet minister Michael Gove supports the report and is advocating for its recommendations, which include addressing Russia-based groups that spread conspiracies on social media, such as those about the Princess of Wales' health.

The report also touches on broader political violence, suggesting that protest movements like Just Stop Oil and Palestine Action could face bans. It criticises the current pay structure, which requires Treasury approval for salaries over ￡150,000, leading to a brain drain as skilled cyber experts are lured by higher-paying private sector jobs.

Nigerian Cybersecurity Levy Faces Public Backlash

The Federal government's recent proposal for a cybersecurity levy on certain bank transactions, suggested by the Central Bank of Nigeria, has sparked widespread outrage. Although President Bola Tinubu has suspended the policy, the negative reactions from diverse sectors highlight the public's strong opposition.

Prince Chukwukadibia Moneke Jonathan, an industrialist and investment expert, voiced his disapproval at a news conference in Awka. He criticised the policy as excessively burdensome, questioning the role of the National Security Adviser in tax collection. Jonathan also condemned other economic policies of the Tinubu administration, such as the removal of the petroleum subsidy and increased electricity tariffs, which he believes have significantly reduced citizens' disposable income.

Jonathan urged the government to utilize recovered looted funds to address economic challenges instead of imposing additional financial burdens on citizens. He emphasised the need to eliminate corruption and inefficiencies in revenue-generating federal agencies like the NNPC and the Customs Service.