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How to get hacked : The Standard

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We live in an era of botnets and data breaches, which has made it more important than ever to use strong passwords. Yet, how many of us have one or two general passwords that we use for all our accounts? Or the same four-digit PIN for our phone and ATM cards?
There are plenty of ways to crack a password, so try not to make it easier for hackers to get through. One way to do this is by using a password manager, which creates strong passwords and remembers them for you – but you’ll need a strong password for it.
Here are some of the ways hackers break through weak passwords:
1. Dictionary attacks
Avoid consecutive keyboard combinations, like ‘qwerty’ or ‘asdfg’. Don’t use dictionary words, slang terms, common misspellings or words spelled backwards. These cracks rely on software that automatically plugs common words into password fields. Password cracking becomes almost effortless with a tool like John the Ripper.
2. Brute force attack
Similar to the dictionary attack, the brute force attack comes with an added bonus for the hacker. Instead of merely using words, a brute force attack lets them detect non-dictionary words by working through all possible alpha-numeric combinations, from ‘aaa1’ to ‘zzz10’.
It’s not quick, provided your password is more than a handful of characters long, but it will uncover your password eventually. Brute force attacks can be shortened by throwing additional computing horsepower, including harnessing the power of machine numbers, like what online Bitcoin miners do.
3. Spidering
Savvy hackers have realised that many corporate passwords are made up of words that are connected to the business itself. Studying corporate literature, website sales material and even the websites of competitors and listed customers can provide the ammunition to build a custom word list to use in a hack. Really savvy hackers have automated the process and let a spidering application (similar to those employed by leading search engines to identify keywords) collect and collate the lists for them.
4. Cracking security questions
Very many people use first names as passwords, usually the names of spouses, children, other relatives or pets, all of which can be deduced with a little research. When you click a ‘forgot password’ link, you’re often asked to answer a question or series of questions. These answers can often be found on your social media profile, which is how US politician Sarah Palin’s Yahoo account was hacked.
5. Phishing
Why bother going to the trouble of cracking a password when the user will happily give it you? A phishing email leads an unsuspecting reader to a faked log-in page associated with whatever service it is the hacker wants to access, requesting the user to put right some problem with their security by inputting their user name and password.
6. Simple passwords
Don’t use personal information, like your age, birth date or favourite colour, as a password, and don’t keep it simple. When 32 million passwords were exposed in a breach in 2010, almost 1 per cent of victims had ‘123456’ as a password. The next most popular ones were ‘12345’, ‘111111’, ‘princess’ and ‘abc123’.
7. Offline cracking
It’s easy to imagine that passwords are safe when the systems they protect lock out users after three or four wrong guesses. However, most password hacking takes place offline, using a set of hashes in a password file that has been ‘obtained’ from a compromised system. Often the target in question has been compromised via a hack on a third party, which then provides access to the system servers and those all-important user password hash files.
8. Social engineering
An alternative to traditional hacking, this is the act of manipulating others into divulging confidential information. A favourite of the social engineer is to call an office posing as an IT security tech guy and simply ask for access passwords. You’d be amazed at how often this works. 

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Release SME cash now, Central Bank boss tells Treasury: The Standard

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Central Bank of Kenya Governor Patrick Njoroge at a past press briefing in Nairobi, April 30. [Elvis Ogina, Standard]

Business News
. Worry is lifeline unlikely to come before July when the next financial year kicks in

Central Bank of Kenya (CBK) Governor Patrick Njoroge has urged the government to urgently unveil the planned credit guarantee scheme to forestall the death of small businesses.

Briefing the press in Nairobi yesterday, Dr Njoroge noted that micro, small and medium-sized enterprises (MSMEs) have thin buffers, which can barely last them more than two months.
Pointing out that it was still unclear when the scheme would be rolled out, the governor said it had to “be as soon as possible”.
“MSMEs don’t have a lot of buffers. They generally would die quickly,” said Njoroge during the regulator’s post-Monetary Policy Committee (MPC) briefing. He cited a survey which showed that three-quarters of SMEs do not have cash that could last them past two months, with most of them unlikely to survive beyond June.

SEE ALSO: Three-quarters of MSMEs likely to face closure

“They (MSMEs) are on the ropes,” said Njoroge, noting that they needed both financing and other assistance, such as being provided with appropriate solutions and products.
Under the guarantee scheme, the government will pay part of the loans taken by SMEs, thus enabling banks to extend more loans to small businesses at lower rates.
However, it looks like the fund might be implemented in the next financial year that starts in July, way past next month when Njoroge noted most SMEs are expected to buckle under the weight of the Covid-19 pandemic. 
As part of his Sh53.7 billion eight-point economic stimulus programme that he unveiled on Saturday, President Uhuru Kenyatta noted that the government will inject Sh3 billion as seed capital for the SME Credit Guarantee Scheme.
“The intention here is to provide affordable credit to small and micro-enterprises and to do so in an efficient and structured manner, borrowing from the professional standards and practices of private sector credit arrangements,” said President Kenyatta.

SEE ALSO: Why CBK wants no more delays in rollout of SMEs credit scheme

The National Treasury and a number of International Finance Institutions (IFIs), including the World Bank, are working on modalities of the scheme.
Having a credit guarantee scheme in place will ensure that banks lend to risky borrowers, including SMEs without fearing default.
In his last press briefing, Njoroge was, however, quick to clarify that such a scheme was likely to have less moral hazard where borrowers default knowing that they are guaranteed, a situation that would hit the government coffers. “This will ensure that SMEs borrow at rates that are affordable. Work is ongoing in that area and will come into fruition in the near future,” he said.
To support financial sector lending to MSMEs, the World Bank has proposed the enhancement of de-risking instruments such as payment/credit guarantees for small enterprises.
Credit to the private sector in May grew by nine per cent in the 12 months to April, with manufacturing registering the highest jump at 20.1 per cent.

SEE ALSO: Government payments, support from CBK lift lenders’ liquidity

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Credit growth to trade grew by 10.3 per cent, transport and communication (9.1 per cent), building and construction (7.7 per cent) and consumer durables (19.6 per cent).
CBK on Wednesday retained its benchmark lending rate – the Central Bank Rate (CBR) – at seven per cent, signalling cheaper loans for borrowers distressed by the Covid-19 pandemic.
Following the outbreak, the repayment period of personal/household loans amounting to Sh102.5 billion, or 13.1 per cent of the banking sector personal/household gross loans, had been extended by the end of April.
For other sectors, a total of Sh170.6 billion had been restructured, with beneficiaries being trade, manufacturing, tourism and real estate. This pushed the total loans restructured to Sh273.1 billion. The retention of CBR came at a time when banks are swimming in cash, with the interbank rate, or the rate at which banks lend to each other, dropping to a low of 3.4 per cent by the end of yesterday. The interbank rate, which is critical for banks under a cash crunch, was at 3.92 per cent on Tuesday.
This year, the economy is expected to register a slower growth than in 2019 when the gross domestic product (GDP) expanded by 5.4 per cent. Most forecasters expect real GDP to expand by less than three per cent.

SEE ALSO: Ex-MP stares at bankruptcy over Sh6 million debt

However, banks have also been forced to set aside billions as insurance against possible loan defaults.
With prudential rules requiring any loans to be put under watch even before they become non-performing (not serviced for more than three months), banks have been provisioning for loan-loss even for accounts whose loans have been restructured.
Banks have also been recalling dividends just in case they are faced with a liquidity crisis, a move that Njoroge supported.
He said in case banks need additional liquidity, they will still need shareholders’ funds. “It is important; in the end if they need additional liquidity it should come from shareholders,” said Njoroge.
Bad loans, those which have gone for more than three months without being serviced, as a share of gross loans increased to 13.1 per cent in April, compared to 12.5 per cent in March.

SEE ALSO: Why Kenya is not begging rich nations for debt relief even as coffers run empty

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Portland Cement in fresh round of employee layoffs

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Portland Cement in fresh round of employee layoffs

Stephen Nthei
EAPCC acting managing director Stephen Nthei. FILE PHOTO | NMG 

East African Portland Cement Company (EAPCC) #ticker:PORT has announced further job cuts through a voluntary retirement scheme that targets all employees in the wake of Covid-19 related hardships.

Acting managing director Stephen Nthei said Thursday the early retirement scheme is open to all workers with applications expected between Thursday and June 15, 2020.

He added that the move is intended to keep the loss-making cement maker afloat as it grapples with declining production and revenues.

The move comes barely four months after EAPCC terminated contracts of an estimated 150 employees in administrative roles as the firm eyed to cut its work-force by a quarter from 800.

“We remain focused on managing our cost base and affirm that the restructuring will not have any negative impact on the services and products we offer,” said Mr Nthei Thursday in a statement.

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The cash-strapped firm has been shedding jobs over the years as performance waned. At the close of June 2017, it had 1,265 employees.

EAPCC in its half-year report for the period ended December last year disclosed that it spent Sh281.9 million to pay off the sacked employees.

Mr Nthei, however, said the sacked staff were eligible to apply for the merged jobs but on a 40 percent salary cut from their previous pay.

The firm had declared intentions to dismiss the junior staff upon the sale of its two parcels of land comprising 2,000 acres as it eyed reducing its staff count from 800 employees.

EAPCC’s net loss widened to Sh1.5 billion in the six months to last December from Sh1.2 billion in a similar period in 2018.

The cement maker’s staff costs stood at Sh4 billion last year, meaning that employee expenses consumed 80 percent of its sales.

The cement maker’s sales have declined sharply over the years from Sh9 billion in the period ended June 2014 to Sh5 billion in 2018 in a period that has seen rivals eat into the company’s market share, which currently stands at 11 percent, down from about 30 percent a decade ago.

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EDITORIAL: Fight Covid-19 in slums

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EDITORIAL: Fight Covid-19 in slums

Mathare slum
A section of the Mathare slum in Nairobi. FILE PHOTO | NMG 

The rising number of Covid-19 cases in slums should draw attention of the policymakers to the potential that the crisis could escalate faster and affect more people than has been projected.

Recently, health authorities said that the number of cases will increase and peak in September, but with the disease situation in slums getting worse this could change. The peak could come later and with even more cases than projected.

That could mean having well over 300 cases per day as opposed to the slightly over 200 cases projected to be reported daily for September. And then the problem could go on for longer and spread faster.

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One of the reasons for the spread in the slums are the cramped conditions in which the dwellers live: There is hardly any space to ensure social distancing and there is shortage of water and other sanitary facilities. Again people are either not wearing masking while in public spaces or have them on but are not wearing them appropriately.

The situation calls for increased vigilance, including providing ample water coupled with teaching the public the need to raise their hygiene standards. Further, the slum dwellers should be encouraged to use masks properly in public places and to ensure that they do not share their masks. One major way for the State to convince residents that it cares for their welfare is by dispensing the masks for free.

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