The Middle East is home to some of the fastest growing economies in the world, has made positive inputs into technology adoption but is still vulnerable to cyber attacks, according to experts. Protection against external attackers was assessed as extremely low for 43 per cent of companies, which may facilitate a rise in attacks, according to a report released by Kaspersky Lab.
The survey, which evaluates data collected from Middle East enterprises until the end of 2017, reveals that three-quarters (73 per cent) of successful perimeter breaches were achieved by penetrating vulnerable web applications.
“Qualitative implementation of simple security measures like network filtering and password policy would significantly increase the security stance,” said Sergey Okhotin, a senior security analyst of security services at Kaspersky Lab.
The rapid rise in cyber attacks is creating a boom in the area's cybersecurity industry, which is worth $11.4 billion (Dh42bn), and is expected to double in size by 2022.
The danger of these attacks was highlighted in several incidents in the region. The Shamoon virus, it first appeared in Saudi Arabia in 2012, crippled 35,000 computers at Saudi Aramco, the world’s biggest oil producing company.
The same year, a virus was also found in the computer network of Qatar’s RasGas, a producer of liquefied natural gas.
Cyber attacks in 48 per cent of the Middle East and Africa companies resulted in damage of more than $500,000, while 58 per cent of the businesses had to manage an outage of more than five hours due to a breach, according to the Cisco 2018 Security Capabilities Benchmark Study.
Sweat in peace, don’t bleed in war…
Whether you believe it was General Patton, General Shwarzkopf or another historic figure who coined these words – the point it makes has never been more relevant than today in the world of business, as well as in the mindset of the military. Even if the violent imagery doesn’t reflect your business leadership style, please read on, because we all need to consider how strategic neglect can lose business fast - faster than ever in fact. The same impetus that can create business value quickly from nothing can return it to dust with a speed that defies human understanding.read more
Smartphone, Dumb Owner? Strengthen Your Mobile Security
With the growth in the use of smartphones and tablets in the workplace and the increase in personal use for such things as online banking, cybercriminals are turning their nefarious attention to mobile devices. Internet security giant Symantec has revealed that mobile malware variants soared by 54 per cent in 2017 when compared to the previous year.read more
Prepare Against Cyberattacks - There Are Resources Available
It is foolish, in the mostly digital world we now live in, to assume that there is someone available to bail you out. Quite simply the more digitalised we get, the more self-sufficient we need to become. Protecting our assets online has never been such an important aspect of any business. There are a multitude of sites, services and products available to help, Government Agencies, the police, National Cyber Security Centre all willing to help and spraying the internet with great advice.read more
IT Managers Overwhelmed Fighting Cyberattacks - Sophos
A global survey, The Impossible Puzzle of Cybersecurity, carried out by Sophos reveals IT managers are inundated with cyberattacks coming from all directions and are struggling to keep up due to a lack of security expertise, budget and up to date technology.read more