‘Cyber security global storm’
The last year has witnessed an increase in APT, ransomware and phishing against government and commercial entities.
According to Ahmed Baig, founder and CEO of the CISO Council, a non-profit industry body with approximately 4,000 members in the Middle East, the last year has witnessed an increase in APT, ransomware and phishing against government and commercial entities.
“We have seen a significant increase in the volume and sophistication of cyberattacks against both governments and private corporations,” says Baig.
“A couple of years ago we had a lot of APT attacks on different governments, which still continue to happen. But what we have seen recently is that these attacks have gained a lot of traction in the financial sector and [against] other commercial entities,” he adds.
Despite the growing danger of security breaches, most firms in the Middle East are still adopting a ‘reactive’ approach to securing in their digital assets. The immaturity of most corporate security strategies reflects a general ‘service approach’ to IT services within most local businesses.
“Most businesses look at IT as a service provider because it is still only supplying them with support service applications, like ERP… services like that. However, this is increasingly changing in the enterprises in the region, where businesses are in a rush to go ‘digital’,” explains Baig.
“Currently, security breaches will typically result in the loss of data and perhaps corporate reputation. However, “the moment they go digital, the physical and virtual worlds are combined [and] things are going to be a lot more serious,” warns Baig.
Ahmed Baig is participating on two roundtables during the GITEX 2016 Conference. The CISO Council will participate in the CISO Breakfast Briefing on 18th October.