The changing face of cybersecurity industry in the Middle East

The changing face of cybersecurity industry in the Middle East

As enterprises in the Middle East explore different approaches to information technology and security, cybercriminals are also constantly evolving their attack vectors. As a result, the region’s cybersecurity landscape is continuously evolving. Several Middle Eastern countries, most notably the UAE and the Saudi Arabia, have achieved significant progress in their digital transformation journeys in recent years, and are also prioritising cybersecurity as an enabler of their digital revolution. Nevertheless, the threat of ransomware and other forms of digital attack are ever-present. In the latest edition of the annual Hi-Tech Crime Trends report, our experts revealed that 150 companies in the Middle East and Africa (MEA) region had their data published by ransomware groups on dedicated leak sites (DLS) in H2 2021 — H1 2022, with 42 of these companies being from GCC countries. MEA companies may make up only 5 per cent of the 2,886 enterprises whose data was published on DLS by ransomware groups in this period, but the financial and reputational damage of even a single ransomware attack can be extensive. Gartner predicted in a recent study that in 2023, spending on products and services related to information security and risk management would grow by 11.3 per cent,