Latest report from global cyber protection vendor Acronis has revealed a remarkable story of resilience in the United Arab Emirates (UAE) and the broader GCC region. The report showcases Acronis’ Insights into the UAE and GCC cybersecurity landscape, painting a compelling picture of how these regions have stood strong against the tide of ransomware attacks, with threats showing signs of flatlining.
Driven by a steadfast dedication to fortify the digital realm in the region, the all-encompassing Acronis Cyberthreat Report 2023 forecasts a distinct levelling off in monthly ransomware detections throughout Q4 of 2023, down from a 6% jump reported in Q1 2023 over Q4 2022.
Unmasking the Ransomware Landscape in the UAE and GCC
In a landscape fraught with uncertainty, the UAE and GCC region emerge as beacons of cybersecurity strength, according to the insightful Acronis Cyberthreat Report 2023. Here are key highlights:
- Rising cyberattack costs in the Middle East: The Cyberthreat Report reveals that various forms of cyberattacks are increasing in the Middle East, leading to significant financial losses for organizations. These cyberattacks encompass a wide range of threats, including hacking, malware, and data breaches. Notably, data from IBM also indicates that the average cost of a cyberattack on an organization in Saudi Arabia and the UAE was US$6.53 million, which is 69% more than the global average.
- Ransomware Resilience: Despite the rising costs associated with these broader cyberattacks, the UAE and GCC region has shown strong resilience against ransomware attacks, which encrypt a victim’s files and demand a ransom payment. The report suggests that the number of monthly ransomware detections is expected to remain steady until the close of 2023. This underlines the region’s robust cybersecurity measures in dealing specifically with ransomware, emphasizing their remarkable effectiveness in this area.
- Phishing’s Persistent Challenge: While ransomware may be on the wane, phishing remains a persistent challenge. Cybercriminals continue to rely on this tactic to target login credentials, demanding ongoing vigilance from organizations across the region.
- Malware Management: Within the region, the Kingdom of Saudi Arabia and Kuwait have reported an 11% infection rate by May 2023, ranking 25th and 27th globally. The UAE maintains its resilience with a 10% infection rate, securing the 31st global position.
- AI as the Game-Changer: AI has emerged as the ultimate game-changer in the fight against cybercriminals. Over 70% of UAE businesses have adopted AI in their decision-making processes, underscoring its efficacy in countering advanced cyber threats. This commitment to AI technologies highlights the region’s dedication to cybersecurity excellence.
“The Middle East and largely the UAE region, due to its position as the go-to economic hub, both the public and private sector have been key targets for cyber-attacks. Over the last few years, ransomware has remained the leading threat but due to serious and cost-effective interventions in terms of preparedness and solutions by the key stakeholders, the region is steadily succeeding in mitigating the attacks. Sustained education, upskilling and investment in cyber protection by enterprises across all sectors continues to play a pivotal role in making the region cyber fit,” said Ziad Nasr, general manager, Acronis Middle East.
As the UAE and GCC region continue to demonstrate their prowess on the global cybersecurity stage, Acronis stands firmly at the forefront, equipping them with cutting-edge cyber protection tools and strategies to navigate the ever-evolving cyber threat landscape.
Manchester City Legend at GITEX Cybersecurity Extravaganza
In a remarkable demonstration of the surging importance of cyber protection, the Acronis team welcomed Paul Dickov, the celebrated Manchester City legend, to their ranks. Together, they showcased that cybersecurity is not just a tech challenge but a collective endeavor. The event featured captivating live demonstrations, exhilarating gamification activities, and exclusive insights into the latest cybersecurity trends and innovations.
James Slaby, Director of Cyber Protection, will captivating audiences with daily thought leadership presentations. Unveiling the strategies to combat AI-driven cybersecurity threats, building unwavering cyber resilience, navigating the intricate realm of cyber insurance, crafting an incident response plan for unbeatable resilience, and safeguarding the invaluable data of Microsoft 365 and Google Workspace.
While global threats escalate, the UAE and GCC remain steadfast, with ransomware threats expected to flatline in Q4. As the digital battleground evolves, the UAE and GCC are well-equipped to navigate the ever-changing landscape, ensuring the safety of their digital ecosystems with the likes of Acronis continuing to play a pivotal role in bolstering the region’s cybersecurity posture.
To learn more about emerging cybersecurity trends, threats and available solutions, visitors can visit the Acronis booth in the Cyber Valley section, H25 – C50.