As the global cybersecurity landscape faces increasing turbulence, a recent report from Acronis, a global leader in cyber protection, sheds light on a remarkable story of resilience in the United Arab Emirates (UAE) and the broader Gulf Cooperation Council (GCC) region. Acronis’ “Cyberthreat Report 2023” offers crucial insights into the cybersecurity situation in these regions, highlighting their impressive ability to withstand the surge in ransomware attacks and showing signs of stabilisation.
The report forecasts a distinct levelling off in monthly ransomware detections throughout Q4 of 2023, a stark contrast to the six percent increase reported in Q1 2023 over Q4 2022. This trend is attributed to the relentless dedication to fortify the digital realm in the region, marking a pivotal milestone in their cybersecurity journey.
The key findings from the Acronis report include:
1. Rising cyber-attack costs in the Middle East: The report underscores the increasing financial losses for organisations in the Middle East due to various forms of cyberattacks, including hacking, malware, and data breaches. Notably, data from IBM indicates that the average cost of a cyber-attack on organisations in Saudi Arabia and the UAE is $6.53 million, which is 69 percent higher than the global average.
2. Ransomware resilience: While the costs of broader cyberattacks are escalating, the UAE and GCC region exhibit remarkable resilience against ransomware attacks. The report suggests that the number of monthly ransomware detections will remain stable until the end of 2023, showcasing the region’s effective cybersecurity measures against this specific threat.
3. Persistent phishing challenges: Despite the decline in ransomware attacks, phishing remains an ongoing challenge. Cybercriminals continue to rely on this tactic to target login credentials, emphasising the need for constant vigilance among organisations in the region.
4. Effective malware management: The report highlights that Saudi Arabia and Kuwait reported an 11 percent infection rate by May 2023, ranking 25th and 27th globally. The UAE maintains its resilience with a 10 percent infection rate, securing the 31st global position.
5. AI as the game-changer: Artificial Intelligence (AI) has emerged as a game-changer in the battle against cybercriminals. Over 70 percent of UAE businesses have incorporated AI into their decision-making processes, demonstrating its efficacy in countering advanced cyber threats and underscoring the region’s commitment to cybersecurity excellence.
Ziad Nasr, General Manager of Acronis Middle East, emphasises the region’s success in mitigating cyber threats through education, upskilling, and investment in cyber protection.
“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,” he said.
