Ransomware cost Gulf corporations millions of dollars

The seminar hosted by systems integrator and managed security services provider NGN International discussed how ransomware infiltrates computer systems and encrypts data to blackmail the victim.

NGN International recently hosted the fourth and final session of its ‘majlis’ ransomware awareness seminars on the 8th of December at the Arab International Cybersecurity Conference and Exhibition (AICS).

The seminar discussed how ransomware infiltrates computer systems and encrypts data to blackmail the victim, and can extend to more than just data breaches for organizations. The speakers made it clear that ransomware attacks can cost companies millions of dollars and result in longer-term losses, particularly when they have an adverse impact on the company’s reputation and reliability. Ransomware assaults have shown to be a continual threat to cybersecurity, whether it’s major healthcare, retail, or insurance firms.

The ransomware awareness session featured many distinguished panellists who represented NGN’s key partners including Mohamad Hashem, Head of Enterprise – KSA & Bahrain at Kaspersky; Mesut Mert, Software Engineer at Veritas; Rami Kayyali, CTO of The Kernal; Mohamed Abdel Kader, Information Security, Manager at Micro Focus; Anas Shunnag, Regional Manager for Sales Engineering at Forcepoint; and Sammy Elyan MSc CISSP, from the Cyber Security Business Development team at Fortinet. The session was moderated by Esmail Jobran, NGN International’s Director of Sales and Marketing and featured the insights of Ilya Leonov, NGN International’s CTO and Yaqoob Al Awadhi, CEO of the NGN Group.

Mr Al Awadhi reflected on the success of the four-part ransomware series and on NGN’s participation at AICS saying; “NGN is very proud to have put on such a successful series of majlis which have provided such crucial insights into the threats posed by ransomware. The panellists who spoke at the fourth session imparted some invaluable advice concerning ransomware best practices which will have helped the audience develop their knowledge of this particularly complex form of cyberattack.”

“NGN’s participation at the first ever Arab International Cybersecurity Summit has been a resounding success and has enabled us to share our extensive knowledge of forms of cybercrime, network with delegates and develop relationships with other organisations. Our pavilion was the largest at the conference and we were delighted with the engagement of conference attendees who wished to learn more about our services,” concluded Mr Al Awadhi.

A series of four NGN-hosted seminars on ransomware risks and defenses came to a close with the fourth NGN Ransomware Seminar. It fits into the company’s framework of NGN’s beliefs in its role in spreading awareness about the risks of cyberattacks and is a part of its social responsibility.