The recent Qatar National Bank data leak came as a reminder to companies and governments alike in the GCC that cybersecurity is no joke (Check if you have been affected by the leak here). Whether it is financial institutions, digital businesses, national infrastructure or plant operators, the risk of being the next target of a major cyberattack is significant these days. The ever increasing connectivity of devices across the board, and the rise of IoT’s and e-gov services in the UAE and Qatar especially gives an unprecedented opportunity for hackers to target anyone, anywhere, and claim large loots as a result.
The last major bank to become a victim of a cyberattack was Bangladesh’s central bank, which was the target of a heist which left the bank almost $1 billion poorer. Cybercriminals managed to compromise the organization’s servers, steal credentials and make a number of rapid transactions. – ZDNet
Cybersecurity is a growing market poised to reach 10 Billion USD in the Middle East alone in 2019. Cyber attacks are on the rise and the cost of breach and cybersecurity negligence run in the millions of dollars for companies in the MENA region. Not only are IT infrastructures vulnerable and not on par with global standards, but the lack of cybersecurity education and training make employees and individuals the weakest link in the cybersecurity chain.
The protection of the critical national infrastructure involving oil, gas, water and electricity in the UAE is lagging. The result is this could cause major disturbances to key services,” Maj Almarashda.
VUL9 Security Solutions is an integrated multi-service cybersecurity startup that not only offers penetration testing, data protection and vulnerabilities patching, but also dedicated training for staff and certification for IT personnel in the client company. Furthermore, their advanced expertise allows them to deploy proprietary cybersecurity software that allows companies to establish stronger primary IT defences focusing on the human factor as the weakest link.
Attacks cost businesses in the region [GCC] up to Dh1.5 billion, with most of the attacks originating from China and Eastern Europe. – The National
It’s time to ensure that your cybersecurity provisions are up to date and able to withstand all sorts of cyber attacks. It’s cheaper to establish strong cyber defences than to bear the large costs of a breach and post-incident remediation. Contact VUL9 Security Solutions for a quote and consultation.
Photo Credit: The National