Cisco to sponsor 8th e-Crime Congress in Abu Dhabi
Cisco to address the growing threat of ransomware which nets hackers nearly $34 million annually
Cisco has announced its participation in the 8th e-Crime Congress Abu Dhabi 2016, which will highlight trends, techniques and regulations in electronic data protection, cyber security, fraud and privacy.
As a strategic sponsor of the event, and partnering with Emicorm, Cisco will use the platform to share insights from Cisco's 2016 Mid-year Cybersecurity report (MCR 2016) to help chief information security officers (CISOs) assess the overall security of their digital businesses.
The report revealed that only 45% of organisations worldwide are confident in their security posture as attacks are now more sophisticated. Furthermore, in 2016 ransomware has become the most profitable malware type in history and has the potential to become even more destructive.
Scott Manson, cyber security leader for Middle East and Turkey, Cisco, said: "Cloud, mobility, Internet of Things (IoT) and social media technologies, combined with digital business practices, have helped countless organisations transform how they operate but they have also increased the attack surface. Old methods of cybersecurity that focus on perimeter defence are no longer enough to keep an organisation safe.
"Attackers are going undetected and expanding their time to operate. To close the attackers' windows of opportunity, organisations will require more visibility into their networks and must improve activities, such as patching and retiring ageing infrastructure lacking in advanced security capabilities."
As security continues to become an integral part in businesses, organisations are facing a fundamental problem, the lack of skilled security professionals. The report highlighted that there is currently a deficit of 1 million security practitioners, increasing to 1.5 million by 2019. Globally, 26% of organisations are facing staffing shortages, and 35% are facing expertise shortages with security jobs growing at 12 times the rate of the overall job market, and 3 times the rate of general IT.
"Today, more than ever before, increased collaboration, communication and coordination - both within organisations and across the security industry - are required to effectively combat the cyber threats. Across the board, organisations in the UAE will need to invest in the people, processes and technologies that will enable themselves to become more resilient in the face of new attacks and compete in the new digital age," concluded Manson.